Coles’ convenience sales revenue for the first quarter of FY20 was $264 million, according to the retailer’s latest results.
This, says Coles, is up 3.1 per cent on the prior corresponding period with comparable sales growth of 0.4 per cent.
Coles says the result was largely a result of the Little Shop 2 campaign driving improvements in transaction growth, partially offset by a decline in tobacco sales.
Food-to-go, according to the results, remains the key growth category in store.
Fuel volumes increased by 1.4 per cent during the quarter. Coles explains that this is a “significant improvement” on the 13 per cent decline experienced in FY19. In fact, it represents the first quarter of fuel volume growth in four years. The retailer believes this was driven by more competitive fuel pricing and the benefits of the Little Shop 2 campaign. Comparable fuel volumes increased by 1.9 per cent in the quarter.
Express opened one new site during the quarter, bringing the total network to 715 sites.
