(Reuters) -Australia's Coles Group on Tuesday flagged modest supermarket sales for early fiscal 2024 while posting a 4.8% rise in full-year profit. The ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOS -Australia's Coles Group on Tuesday flagged modest supermarket sales for early fiscal 2024 while posting a 4.8% rise in full-year profit.
The Melbourne-based company also said it expects cost-of-living pressure to remain for Australian households in fiscal 2024. Coles' higher profit comes on the back of higher supermarket sales which help offset flat liquor sales revenue for the year. Total supermarket inflation was 6.7% for the year, significantly higher than 1.7% a year ago, the company said in a statement.
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