Coles Express records increase in Q1 revenue

Coles Express sales revenue up in Q1

Coles has revealed its first quarter (Q1) sales revenue for 2019 comprising an increase in sales revenue for its Coles Express line.

Convenience sales revenue for the first quarter was $264 million, up 3.1% on the prior corresponding period with comparable c-store sales growth of 0.4%.

Coles Express records increase in Q1 revenue
Coles Express records increase in Q1 revenue

The result was largely a result of the Little Shop 2 campaign driving improvements in transaction growth, partially offset by a decline in tobacco sales.

Food-to-go remains the key growth category in store.

Fuel volumes increased by 1.4% during the quarter, a significant improvement on the 13.0% decline experienced in FY19 and represents the first quarter of fuel volume growth in four years.

This was driven by more competitive fuel pricing and the benefits of the Little Shop 2 campaign.

Comparable fuel volumes increased by 1.9% in the quarter. Express opened 1 new site during the quarter, bringing the total network to 715 sites.

Coles Group CEO Steven Cain said: “The refreshed strategy we set out to Win in Our Second Century has helped us to deliver a positive set of results for our first quarter. The increased sales momentum we are seeing in the second quarter demonstrates that the changes we are making to Inspire Customers are already making a difference.”

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