Coles growth disappoints investors

Coles supermarkets continued to post strong growth in its core food and liquor business for the first quarter just ended but the market registered disappointment with waning momentum of its supermarket operation against rival Woolworths.
Wesfarmers shares are down 0.1 per cent at $41.98.
The supermarket operator posted a 4.9 per cent increase in food, liquor and convenience sales which reached $8.9 billion in the three months ending in September on Thursday, despite a significant fall in fresh food prices and general discounting.  Sydney Morning Herald – Read more…