David Nielsen

Coles sales up by 4.4% in first quarter

COLES retail sales have increased by 4.4% for the first quarter of the 2014 financial year.

The figure was reported as Wesfarmers Limited announced its retail sales results this morning.

Managing Director Richard Goyder said he was generally pleased with the sales results, in particular the good performances of Coles, Bunnings, Officeworks and Kmart.

"Our continued focus on improving merchandise offers and value for customers was reflected in strong transaction and volume growth achieved across our retail businesses," Mr Goyder said.

"Coles' headline food and liquor sales growth for the quarter was 4.4 per cent.

"Comparable food and liquor sales grew 3.4 per cent, with volume growth remaining strong, particularly in fresh produce. Coles continued to offer customers better value through ongoing investment in lower prices, while making good progress in both product and store format innovation.

"Bunnings recorded strong total store sales growth of 10.4 per cent for the quarter, with store-on-store sales growing 7.1 per cent. Bunnings achieved good growth in both consumer and commercial areas as customers continue to respond well to our strategic initiatives which are creating more value and better customer experiences.

"Officeworks' total sales grew 3 per cent for the quarter, with good transaction growth achieved in both the store network and online, consistent with Officeworks' "every channel" strategy.

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