Coles Group reported a 7% increase in its Q3 sales revenue

Australian supermarket chain Coles Group Ltd (ASX: COL) reported a 7.0% increase in sales revenue for Q3 2023, generating AU$8.6 billion. Gross retail sales of AU$8.9 billion increased by 7.9%, while comparable sales grew by 6.5%. These figures reflect the impact of a new range of Flybuys member pricing, which has increased member numbers and point redemptions. Additionally, Coles’ value campaign 'DROPPED & LOCKED' and MasterChef Cookware continuity program have also helped to support sales growth.

Excluding tobacco, sales revenue increased by 8.2%. The growth in sales is despite logistical disruptions caused by floods in New South Wales and Queensland, and South Australia. Coles' eCommerce division saw a revenue growth of 2.7%, contributing 7.5% to the overall supermarket sales. The revenue growth was partly driven by Click & Collect Rapid and Rapid Delivery, which are now available in more than 460 stores nationwide.

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