The supermarket operator attributed the boost in sales to seasonal campaigns and rising digital revenueSupermarket operator Coles has posted a surge in revenue from its groceries business, underpinning an 8.3% rise in annual profit to $1.1bn even as shoppers grappled with rising household costs.Australia’s second largest supermarket chain significantly expanded its profit margins from its supermarket business to 5.2% from 4.8% a year ago, and recorded a jump in the number of people shopping online as well as those buying its own brand groceries. Continue reading…
Source link : https://www.theguardian.com/australia-news/article/2024/aug/27/coles-reports-8-surge-in-annual-profit-to-11bn-amid-cost-of-living-crisis
Author : Jonathan Barrett
Publish date : 2024-08-26 23:19:43
Copyright for syndicated content belongs to the linked Source.
