‘A tale of two cities’: Supermarket giant Coles sees a split in Australian consumers
Supermarket giant Coles sees a “tale of two cities” emerging among Australian consumers, who are split between those doing it tough and seeking lower prices and those willing to pay more for convenience.
The supermarket said on Monday that its sales grew 2.4 per cent on a comparable basis in the third quarter, driven up by higher fresh food prices and another successful toy giveaway.
Woolworths is expected to deliver third-quarter comparable sales growth of 2.8 per cent.
The result, which was in-line with analysts’ expectations, came as prices ticked up 0.9 per cent – a swing from 0.8 per cent deflation in the same quarter a year ago. Sydney Morning Herald – Read more…