News: COL Coles Posts Qtrly Supermarkets Sales Of $8,230 Mln

April 29 (Reuters) - Coles Group Ltd (COL) :

• QTRLY SUPERMARKETS SALES $8,230 MILLION VERSUS $7,232 MILLION
• Q3 TOTAL SALES $9,226 MILLION VERSUS $8,173 MILLION
• Q3 SUPERMARKETS COMPARABLE SALES GROWTH 13.1% VERSUS 2.4%
• COLES ONLINE SALES GROWTH FOR QUARTER SLOWED TO 14%
• LIQUOR COMPARABLE SALES GROWTH OF 7.2% FOR Q3
• LIQUOR NEGATIVELY HIT BY BUSHFIRE SMOG OVER CAPITAL CITIES AND FLOODS IN JAN, FEB BEFORE COVID-19 IMPACT
• IN LATE FEB, SUPERMARKET SALES GROWTH WAS IMPACTED BY CUSTOMER STOCK PILING DUE TO RISING CONCERNS ON COVID-19
• CUSTOMER STOCK PILING DUE TO RISING CONCERNS ON COVID-19 CONTINUED THROUGHOUT MARCH
• IN FIRST 4 WEEKS OF Q4, SUPERMARKETS COMP SALES GROWTH BROADLY TRENDED BACK TOWARD LEVELS IN EARLY Q3
• UNPRECEDENTED DEMAND LED CO TO BEGIN PLACING PRODUCT LIMITS PER CUSTOMER IN CERTAIN CATEGORIES FROM EARLY MARCH
• GROSS OPERATING CAPEX IN FY20 NOW EXPECTED TO BE $750 MILLION TO $850 MILLION
• IN Q4, EXPECTS ELEVATED COST BASE DUE TO ADDITIONAL INVESTMENT AS A RESULT OF COVID-19
• WHILE COLES EXPERIENCED SALES UPLIFT IN LATTER PART OF QUARTER INCREMENTAL COSTS ALSO INCURRED IN CLEANING & SECURITY
• LIQUOR EXPECTED TO CONTINUE TO EXPERIENCE ELEVATED SALES AS LONG AS RESTRICTIONS ON HOTELS,PUBS,CLUBS&LICENSED VENUE OPERATORS CONTINUES
• EXPRESS NOW EXPECTS TO REPORT AN EBIT LOSS, ON A PRE-AASB 16 BASIS, FOR 2020 FY
• RESTRICTIONS PLACED ON NUMBER OF CATEGORIES GRADUALLY BEING LIFTED AS DEMAND REDUCES & SUPPLY IMPROVES

Source: https://bit.ly/2Wc3NNI

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