Coles 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 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 MoreThe country’s second-ranked supermarket chain has slipped out a surprise early earnings update which speaks more to corporate spin than anything else.
Read MoreNo 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 MoreColes shares rebounded yesterday after its first-quarter sales performance was better than expected by analysts.
Read MoreSigns 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 MoreThe company’s maiden FY19 result was messy, UBS observes, but in line with expectations. Supermarket earnings were 3% ahead of the brokers forecasts.
Read MoreIn 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 MoreUBS 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 MoreColes 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 MoreMeanwhile, Coles, yesterday revealed swingeing cuts at its head office in Melbourne with a reported 450 people departing, including some senior managers.
Read MoreColes has lifted its third-quarter food and liquor sales 2.1% to $8 billion, thanks in part to its latest kid-focused collectables campaign.
Read MoreThe company has undertaken an exclusive partnership with UK-based online retail group Ocado. This is expected to double the company’s home-delivery capacity and improve online margins.
Read MoreColes’ result fell short of the broker on higher supermarket costs and lost market share in the second quarter. Liquor did well and cash flow was otherwise strong but margins compressed.
Read MoreAn essentially meaningless interim result yesterday from the country’s newest listed retailer, Coles Group thanks to the spin-off from Wesfarmers and the impact on the company’s management, sales, and costs.
Read MoreTougher times for our small listed supermarket sector? Metcash shares took a hit for a second day while the relisted Coles is feeling the pinch as well.
Read MoreColes and Wesfarmers separated yesterday without too much fuss on a day when the volatility could have done anything to the shares with Coles shares returning to the ASX at $12.41 after an 11-year absence.
Read More