Price war works for Coles
Last week investors were pleasantly surprised that Woolworths exceeded expectations for sales growth in the September quarter and was tantalised by the prospect it’s rates of growth might be catching up Coles.
Coles put that theory to bed this morning delivering an even stronger sales number.
Putting its other retail brands to the side, Coles supermarkets and liquor business delivered same-store growth of 3.7 per cent in the quarter compared with Woolies food and liquor posting a gain of 2.3 per cent. Sydney Morning Herald – Read more…