Coles Group (COL) - Strong showing
March 11, 2025
Coles Group Limited operates as a retailer in Australia through various supermarkets, which offers fresh food, groceries, general merchandise, and liquor.
The company reported first-half FY25 earnings ahead of market expectations, underpinned by robust sales growth in its food and liquor operations, although the interim dividend fell just short of forecasts.
The No.2 supermarket chain also flagged a positive start to the second half, with sales growth in the first seven weeks slightly ahead of that reported by larger rival Woolworths.
Ord Minnett was impressed by the tight rein on costs and solid revenue growth that allowed Coles to deliver a strong margin performance, with the company outperforming Woolworths in recent periods. We maintain our Accumulate recommendation on Coles, although our target price increases to $21.00 from $19.50.
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