Australian Supermarket Coles Reports 30 Percent Surge in Online Sales

Australian supermarket Coles has reported a 30 percent growth in online supermarket sales, and 9 percent increase in digital liquor sales. The grocery giant reported a net profit after tax (NPAT) of $1.1 billion (US$646 million) in the 2024 financial year, 2.1 percent higher than 2023. The company’s total group sales revenue from continuing operations rose 5.7 percent to $43.6 billion (pdf). Total supermarket revenue rose 4.3 percent to $39 billion, while liquor revenue climbed 0.5 percent to $3.7 billion. Coles noted that liquor sales were impacted by lower customer discretionary spending, and the transition away from bulk and affiliated sales. Dburing the 2025 financial year, Coles expects to open eight new stores, close five, and renew 50....