Woolworths Gatecrashes API Party
Shares in API soared more than 16% on Thursday to a high of $1.74 after Woolworths crashed Wesfarmers’ attempt to take control of the company.
Read MoreTag: COL
COL – UBS rates the stock as Sell
Negative view on food retailing forms the basis as to why both main players in the sector are now rated Sell. UBS also notes Woolworths supermarkets continue to outperform. Target $16.50.
Read MoreShop Talk: COL, JBH, API
Not easy to make a dollar in the retail space over the past couple of years. Here’s how three of the majors are faring: Coles Group, JB Hi-Fi, and Australian Pharmaceutical Industries.
Read MoreProfit Briefs: COL, SUL, BAP, VCX
With peak reporting season upon us, here are snippets from the results announced yesterday by some local retailers: Coles, Super Retail Group, Bapcor and mall owner-operator Vicinity Centres.
Read MoreCOL – Morgans rates the stock as Add
The Add rating is maintained and the target is decreased to $17.80 from $18.50.
Read MoreInvestors No Fans of Coles’ Spending Plans
The market didn’t like the news that supermarkets giant Coles plans to boost spending on new facilities – not so much stores – by more than $2.5 billion over the next two years.
Read MoreCOL – Macquarie rates the stock as Upgrade to Outperform
The stock screens attractively on valuation and the broker switches its preference to staples, upgrading to Outperform from Neutral. Target is raised to $18.20 from $17.30.
Read MoreCOL – Credit Suisse rates the stock as Outperform
The broker retains an Outperform rating and $18.19 target.
Read MoreForewarned Market Takes Coles Weakness in Its Stride
After being told to expect weaker earnings well in advance, Coles investors were not surprised when the fall did eventuate in the March quarter, according to the retailer’s update on Wednesday.
Read MoreCashflows Stay Strong During COVID-19
The positive results from core shareholdings for 2021 FY reiterate why Investors Mutual invests in good quality, well-established businesses which produce real cashflows, earnings, and dividends.
Read MoreInvestors Check Out of Coles on Cautious Prognosis
Coles shares lost more than 5% yesterday after the company warned sales could weaken in the June half of 2020 as the COVID-19 sugar hit to the sector wears off.
Read MoreColes Cautious on Prospects
Supermarket giant Coles has become the first retailer to explicitly warn that sales could decline over the remainder of the year as the COVID-19 sugar hit to the sector in the June half of 2020 wears off.
Read MoreCOL – Credit Suisse rates the stock as Outperform
Coles is set for a significant first half, Credit Suisse observes. Sales momentum has been strong and gross margins appear to benefit from lower promotional intensity. Pandemic-related costs have been lower relative to expectations.
Read MoreColes Booms, But A Slowdown Looms
More good news from a leading retailer about the positive impact the COVID-19 pandemic and its outcome continues to have on sales. The now eased lockdown in Victoria and especially Melbourne saw has first-quarter sales at Coles rise by more than 10%.
Read MoreWhy Earning Income from Shares Has Taken on Extra Significance
Looking back over 35 years of investing, I never thought that I would ever see the day in Australia where interest rates are as low as they are today.
Read MoreMoody’s: Record Supermarket Sales To Steady
Credit rating group, Moody’s sees Australia’s major supermarket chains – Woolies and Coles having a solid first half of the 2012-21 financial year, thanks to the continuing threat from COVID-19.
Read MoreWindow Opens On Consumer Trends
Consumers shopped in larger quantities, less frequently and increasingly online during the height of the nationwide lockdowns. The question now is: which trends will persist and which stocks will benefit as restrictions ease?
Read MoreCOL – UBS rates the stock as Neutral
FY20 results were in line with expectations. The main positive was -$250m in cost reductions with a further -$250m expected in FY21.
Read MorePanic Buying Pushes Coles To Bumper Result
As widely expected supermarket chain, Coles Group has had a very profitable COVID-19 crisis and so will its shareholders. Coles’ said on Tuesday that earnings before interest and tax (EBIT), excluding a range of significant items, rose 4.7% to $1.76 billion, much better and stronger than 2018-19’s 8.3% dip (which was complicated by the spin-off from Wesfarmers in November 2018).
Read MoreColes Shares Slip Despite Record Supermarket Sales
Supermarket chain Coles has confirmed that it has been a major beneficiary of the COVID-19 pandemic and lockdowns governments have introduced to control its spread.
Read MoreColes More Than A Short-Term Play On Stockpiling: Airlie
Current sales spikes aside, Airlie Funds Management believes the prospects for Coles are attractive as it continues the operational turnaround that began under Wesfarmers, and the industry emerges from a difficult decade characterised by new entrants, strong competition and price discounting.
Read MoreCash Is King As Wesfarmers Sells Down Coles Stake
Wesfarmers has raised $1.060 billion from another sale of part of its stake in Coles Group. Wesfarmers said it had sold 5.2% of Coles at $15.39 a share.
Read MoreMosaic & Star Stand Down Staff, Wesfarmers Shutters Kmart NZ
Major women’s fashionwear retailer Mosaic Brands has become the latest chain operator to shut stores and stand down staff indefinitely. Casino operator, Star Group has also stood down around 90% of its staff of 9,000 while Wesfarmers has shut its Kmart stores in New Zealand as the coronavirus outbreak continues to escalate.
Read MoreEarly Data Shows Panic Buying Turning Around Retail Sales
Investors have paid no heed to partial figures from the ABS yesterday showing a 0.4% rise in seasonally adjusted retail sales in February. The rise came from the supermarket sector as other parts of retail, particularly associated with tourism or hospitality, are likely to plummet.
Read MorePanic Buying Extends To Supermarket Shares
Shares in Coles, Woolies, and Metcash surged yesterday as investors took heed of the impact of the panic buying will have on sales and earnings for the March quarter at least.
Read MoreCOL – UBS rates the stock as Sell
Coles’ result came in 3% above the company’s pre-announced number earlier in the month, largely due to better than expected cost-outs. UBS is surprised by the solid performance of the supermarket in the face of higher levels of investment by rivals.
Read MoreStaff Underpayments Blot Solid Half From Coles
As Coles Group forecast earlier this month, the country’s second supermarket chain turned in a solid result for the first half of 2019-20.
Read MoreColes Joins Woolies In The Staff Underpayments Club
Coles has now joined rival Woolworths (and a host of other companies, listed and unlisted) in underpaying staff – in this case, some of its salaried managers.
Read MoreColes Hypes Up Sales Growth After Solid Holiday Season
The country’s second-ranked supermarket chain has slipped out a surprise early earnings update which speaks more to corporate spin than anything else.
Read MoreKaufland Exit Sparks Rally In Coles, Woolies Shares
No wonder shares in Coles and Woolworths soared to record highs late yesterday – a major potential rival from Germany has quit before it got around to opening a store in this country.
Read MoreCOL – Morgan Stanley rates the stock as Downgrade to Underweight from Equal-weight
Morgan Stanley observes supermarket industry margins have re-based and this has paid off for the major operators. The broker believes execution will be a differentiator in supermarkets in 2020 and Woolworths has a margin advantage, partially reflecting its scale advantage. This is considered unlikely to be eroded over the medium term.
Read MoreCOL – Morgan Stanley rates the stock as Equal-weight
First-quarter sales were broadly in line with Morgan Stanley’s expectations. Like-for-like sales growth in supermarkets was 0.1%.
Read MoreColes Shares Rally After Q1 Sales Top Analysts Forecasts
Coles shares rebounded yesterday after its first-quarter sales performance was better than expected by analysts.
Read MoreAnalysts Downgrade Coles Ahead Of Q1 Sales Report
Signs of investor worries about the first quarter trading performance of our two biggest retailers – Woolworths and Coles which are both due to update the market this week on how they went in the three months to the end of September.
Read MoreCOL – UBS rates the stock as Sell
The company’s maiden FY19 result was messy, UBS observes, but in line with expectations. Supermarket earnings were 3% ahead of the brokers forecasts.
Read MoreColes Pays Special Dividend Despite Earnings Fall
In the wider retail sector the country’s second major supermarket chain, Coles Group has completed the financial year with OK trading figures, but a one-off surprise for shareholders.
Read MoreCOL – UBS rates the stock as Sell
UBS found two positive surprises from the company’s strategy briefing. Fourth quarter like-for-like sales were ahead of expectations and $1bn of cumulative cost reductions by FY23 were announced.
Read MoreCosts Out Convinces Coles Investors
Coles shares hit an all-time high of $13.69 yesterday after the company revealed its new strategy, the highlight of which was of course cost cuts – $1 billion by 2023.
Read MoreColes Wields The Axe Ahead Of Strategy Update
Meanwhile, Coles, yesterday revealed swingeing cuts at its head office in Melbourne with a reported 450 people departing, including some senior managers.
Read MoreCollectables Help Coles Lift Q3 Sales 2.1%
Coles has lifted its third-quarter food and liquor sales 2.1% to $8 billion, thanks in part to its latest kid-focused collectables campaign.
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