Coles Express reported revenue of $2,922 million for the first half, 8.1 per cent lower than the prior corresponding period due to lower fuel volumes.
According to (parent company) Wesfarmers’ half-year report, the ongoing impact of changes to the commercial terms with its Alliance partner and lower fuel volumes resulted in lower earnings for the half.
Total convenience-store sales increased 0.9 per cent for the first half, or 0.4 per cent on a comparable store basis. For the second quarter, convenience-store sales decreased 0.6 per cent, with comparable store sales increasing 0.6 per cent. Wesfarmers says growth in convenience-store sales continued to be driven by strong double-digit growth in the food-to-go category, an increasing Every Day value proposition, and refurbishment of the store network.
Total fuel volumes for the half declined by 18.6 per cent, with comparable volumes declining 19.3 per cent. Total fuel volumes decreased 17 per cent during the second quarter, with comparable volumes down 17.7 per cent on the prior corresponding period. Average weekly fuel volumes achieved during the second quarter were broadly in line with volumes achieved in each of the previous two quarters.
As at December 31, 2017, there were 712 Coles Express sites, with 12 new sites opened and two sites closed during the period.
