Collectables lift Coles’ Q3 sales 2.1%

Coles has lifted third-quarter food and liquor sales 2.1 per cent to $8.0 billion, boosted by its latest kid-focused collectables campaign.

The supermarket giant said Monday its Fresh Stikeez campaign “drove high customer engagement” over the 12 weeks to March 24, mirroring the success of last year’s Little Shop giveaways.

The incentive of earning the food-themed mini figures helped lift Coles’ third-quarter comparable food and liquor sales 2.1 per cent compared to the prior corresponding period – once the timing of New Year’s Eve has been taken into account.

Coles said average basket size grew strongly over the period, underpinned by an increase in items per basket and price inflation in fresh categories.

“We delivered a solid outcome for the third quarter,” chief executive Steven Cain said.

“We know that customer expectations are changing faster than ever, and we are resolutely focused.”

Supermarket revenue rose 2.2 per cent to $7.27 billion, while liquor rose 0.9 per cent.

Total revenue for the group, which spun off from Wesfarmers and listed independently in November, was $8.88 billion.

Coles shares were worth $12.60 before the market open on Monday.

AAP

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