COL -7.4%: shares slid the most since March 2020, after the retailer’s trading update showed its supermarket sales underperformed those of main competitor Woolworths.
1H26 Highlights
- Sales revenue $23.62bn, +2.5% YoY.
- Supermarket sales $21.37bn, +3.6% YoY, Bloomberg Consensus Estimate $21.49bn.
- Net income $511mn. -11% YoY.
- Ebit $996mn, -7.9% YoY.
- Supermarkets Ebit $1.23bn, +15% YoY, estimates $1.25bn.
- Interim dividend 41c v 37c YoY.
COL said in the first 7 weeks of the 3Q supermarkets sales revenue had increased by +3.7%. Coles CEO Leah Weckert said, “We have delivered another strong set of results in a highly competitive operating environment, successfully cycling the competitor industrial action disruption in November and December 2024.” – the market didn’t agree today.
MM is neutral towards Coles Group (COL) around $20.50
Add To Hit List
