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Australia's Wesfarmers says Coles Q4 sales up 3.0 pct y/y
July 25, 2012 / 10:56 PM / 5 years ago

Australia's Wesfarmers says Coles Q4 sales up 3.0 pct y/y

MELBOURNE, July 26 (Reuters) - Australia’s Wesfarmers Ltd said sales growth at its Coles supermarkets rose in its fiscal fourth quarter as higher sales volumes and government handouts offset record price deflation.

The retail-to-coal company said on Thursday same-store food and liquor sales at Coles, which makes up about half of group revenue, rose 3.0 percent in the fourth quarter from a year earlier.

That was a touch below market forecasts for 3.2 percent growth, according to a Reuters survey of five analysts, and compared with growth of 1.3 percent at top rival Woolworths Ltd .

Sales in the three months to June 24 compared with 2.7 percent growth in the third quarter. (Reporting by Miranda Maxwell; Editing by John MairOEC)

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