Wesfarmers supermarket sales up 4.9 per cent for 3Q

Wesfarmers supermarket sales up 4.9 per cent for 3Q


Cut-price cooked chook, Colgate and Kleenex tissues were Coles' weapons of choice in the third quarter, propelling the supermarket chain's same-store food and liquor sales 4.9 per cent higher and upping the pressure on embattled rival Woolworths.
The Wesfarmers-owned supermarket chain beat analyst expectations and defied soft consumer sentiment to post $7.5 billion in grocery and liquor sales for the third quarter. In the financial year to date, Coles' food and liquor sales are up 5.6 per cent to $24.2 billion, boosted by record trade over Easter.
The result will underscore the need for Woolworths to super-charge its turnaround and convince shoppers it can match Coles on price, range and customer service. Woolworths in February reported comparable food and liquor sales fell 0.8 per cent in the six months to January 3. It is due to release its third-quarter sales on May 3.

Wesfarmers' combined Kmart-Target or "Karget" sales were 11.4 per cent higher, powered by a 15.2 per cent jump in same-store sales at Kmart while Target grew like-for-like sales by just 1.4 per cent.

Read more: http://www.smh.com.au/business/retail/wesfarmers-supermarket-sales-up-49-per-cent-for-3q-20160420-gob9sx.html#ixzz46RAWjgXo
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