Wesfarmers Ltd (WES.AX)
13 Dec 2017
SYDNEY Australian supermarket operator Woolworths Ltd said on it on Tuesday it had logged robust quarterly food sales growth, outpacing rival Coles for a third straight quarter on the back of aggressive discounting.
* Woolworths posts 4.9 pct food sales growth vs Coles' 0.3 pct
SYDNEY Australian consumer prices were surprisingly tame last quarter while core inflation stayed below target for almost a second full year, leading investors to pare back the already slim chance of a rate hike for months to come.
SYDNEY Australia's biggest company by revenue, retail-to-coal giant Wesfarmers Ltd , posted sluggish first-quarter supermarket sales growth on Wednesday and said earnings from its newly-acquired British hardware stores had plunged.
* Cash rates seen on hold for a long while yet - economists (Updates with economist comment, Coles earnings, updates A$ level)
* Wesfarmers shares suffer biggest daily fall in 1 yr (Recasts on Coles and UK, adds management, shareholder and stockbroker quotes)
Oct 25 Australian shares pushed higher on Wednesday, led by miners, which rallied on robust metal prices, though a retreat of banking stocks' early gains and a slide in conglomerate Wesfarmers Ltd capped gains.
* Qtrly headline food and liquor sales $7,968 million versus $7,850 million a year ago
* Shares rise as much as 5.6 pct (Adds New Hope MD's comments)
* Coal, hardware, department stores grow; supermarkets down (Recasts throughout, adds CEO quote, broker quote)