Coles has reported sales revenue rose 10.5 per cent in its first quarter, driven by Victorians stockpiling goods amid coronavirus lockdowns.
The retail giant on Wednesday said its supermarkets, liquor and convenience stores reaped $9.6 billion for the 13 weeks to September 27, a marked improvement on the first quarter of fiscal 2020.
Victorians, who were increasingly confined to their homes due to high COVID-19 infection rates, made the greatest contribution to the 9.8 per cent rise in the supermarkets’ division revenue of $8.46 billion.
Online sales in that state rose by more than 100 per cent.
Across the country, there were more sales of baking mixes, herbs and spices, flour, cleaning goods and dishwashing products.
Customers also appeared to be drinking more. The liquor division’s sales increased by 17.4 per cent to $852 million.
Online sales gained by 80 per cent, while sales at chains such as First Choice Liquor, Liquorland and Vintage Cellars also improved.
The convenience division, Coles Express, had sales improve by 10.3 per cent to $291 million. Higher store sales offset a 19 per cent drop in fuel volume sold to motorists.
The second quarter has started well across all divisions.
The supermarket division’s comparable sales growth was 6.4 per cent, while liquor’s was 16.9 per cent.
Online sales growth was 45 per cent, after Victorians eased their spending as they regained some freedom.
Shares were higher by 2.53 per cent to $17.64 at 1519 AEDT.