Monday, April 22, 2024

Coles 2021 HY Results: e-commerce leads charge

Coles is experiencing success in its e-commerce strategies and proving to satisfy customers further.

Sales revenue increased by 8.1% in comparison to the last period, to a total of $20.4bn.

Comparable sales growth of 7.2% in Supermarkets, 15.1% in Liquor and 9.9% in Express.

A strong Group EBIT and earnings per share growth of 12.1% and 14.5% respectively.

The company is also on track to deliver cost savings in excess of $250m in FY21.

Strategic highlights from the company includes, e-commerce B2C sales growth of 61% with strategic investments made in user experience and capacity leading to significant improvements in Perfect Order Rate and customer satisfaction.

“We have now delivered the first 18 months of our refreshed strategy, whilst ensuring that we support our team members, customers, suppliers and community partners through a volatile and unpredictable Covid-19 year,” says Coles Group CEO, Steven Cain.

“Coles continued to experience elevated sales as a result of Covid-19, which saw the prior trends of basket consolidation and fewer shopping trips persist during the half, however, transactions were supported in December by international border restrictions which saw more Australians stay at home over the Christmas holiday period.

“Total e-commerce sales grew 48% (while B2C e-commerce sales grew 61%) for the half driven by very strong growth in Victoria across Click & Collect and home delivery.”

Mr Cain concludes, “With a strong balance sheet and team, Coles is well placed to continue delivering on our vision of becoming the most trusted retailer in Australia and grow long-term shareholder value.”

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