COL +8.54%: Shares in the supermarket giant jumped today on a solid FY25 result but more importantly better than expected like-for-like sales growth in FY26 so far.
- Revenue $44.49 billion +1.8% y/y, slightly ahead of the $44.33 billion estimate
- Net income $1.08 billion was in line with consensus
- Final dividend of 32 cents per share, flat y/y
Prior to the result, Coles was trading in line with its historical average valuation, so sales growth of +4.9% in the first 8 weeks of FY26 saw investors piling in.
Capex in their online segment remains a focus into FY26 as they play catch up to Woolies on that front, though it has already been the key driver of their turnaround.
- We still prefer Coles to Woolworths at present as they continue to deliver on digital growth initiatives.
MM remains bullish toward COL
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