COL coles group limited.

News: COL UPDATE 1-Australian grocer Coles posts near 11% rise in Q1 sales on Victoria lockdown

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    (Adds details on online sales, Victoria lockdown)

    Oct 28 (Reuters) - Coles Group (COL) , Australia's second-largest grocery chain, on Wednesday posted a 10.5% rise in first-quarter sales, driven by a fresh coronavirus lockdown in the state of Victoria.

    Coles' supermarket business, which accounts for most of the group's earnings, posted a 9.9% rise in sales to A$8.46 billion ($6.03 billion) in the quarter ended Sept. 27.

    Online sales in Victoria, Australia's second-biggest state and home to Melbourne, more than doubled.

    "In the first quarter, Supermarkets comparable sales growth was driven by Victoria, and to a lesser extent New South Wales, as Stage 3 and subsequently Stage 4 restrictions were introduced," the company said.

    However, the company said sales growth in other states were elevated but tapered off in the latter part of the quarter.

    Coles said comparable supermarket sales growth was 9.7%, while total sales climbed to A$9.61 billion from A$8.70 billion a year earlier.

    Larger rival Woolworths (WOW) is set to report results on Nov. 4.

    ($1 = 1.4027 Australian dollars)

 
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