Coles releases 2021 Half Year Results

    Coles Group experienced strong convenience store (c-store) sales driven by local shopping.

    Total sales revenue saw an increase of 10.5% vs pcp, with a total of $632m.

    The sales growth was driven by the drink’s category, supported by recent investments in fridges and targeted range reviews in healthier drink alternatives.

    Improved momentum in Victoria followed the easing of Government imposed Covid-19 restrictions also supported sales growth.

    Average weekly fuel volumes of 55.5ml per week were recorded during the half with volumes improving in the second quarter.

    “The recovery from initial Covid-19 restrictions continued to progress with fuel volumes improving in the second quarter across all states,” says CEO of Coles Group, Steven Cain.

    “As restrictions in Victoria began to ease fuel volumes trended positively in the early part of December prior to the seasonally quieter Christmas period.

    “C-store sales growth was also strong as Express continued to benefit from the shift in customer behaviour towards the convenience channel and avoiding larger, busier stores.

    “The food-to-go and confectionery categories which had been negatively impacted by Covid-19 restrictions continued to recover throughout the half.”

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