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    The Guardian

    Coles reports 8% surge in annual profit to $1.1bn amid cost-of-living crisis

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    The supermarket operator attributed the boost in sales to seasonal campaigns and rising digital revenueSupermarket operator Coles has posted a surge in revenue from its groceries business, underpinning an 8.3% rise in annual profit to $1.1bn even as shoppers grappled with rising household costs.Australia’s second largest supermarket chain significantly expanded its profit margins from its supermarket business to 5.2% from 4.8% a year ago, and recorded a jump in the number of people shopping online as well as those buying its own brand groceries. Continue reading…

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    Source link : https://www.theguardian.com/australia-news/article/2024/aug/27/coles-reports-8-surge-in-annual-profit-to-11bn-amid-cost-of-living-crisis

    Author : Jonathan Barrett

    Publish date : 2024-08-27 01:19:43

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