Australia's Coles falls on smaller-than-expected supermarkets growth at start of FY27
BUZZ-Australia's Coles falls on smaller-than-expected supermarkets growth at start of FY27 ** Shares of Coles Group COL.AX fall as much as 2.3% to A$22.12, their lowest level since June 5
** Stock set for weakest intra-day trading session since July 13, if current trends hold
** Australia's No.2 grocer said sales growth in its supermarkets division for the first eight weeks of FY2027 in line with Q4 2026
** Q4 2026 logged a 3.7% increase in sales revenue for the supermarkets segment; therefore, growth in the first eight weeks of FY27 fell short of Visible Alpha consensus estimate of a growth of 4.7% for H1 FY27
** Coles posted FY revenue for the Supermarkets segment of A$41.47 bln ($29.67 bln), missing VA consensus estimate of A$41.52 bln
** Stock up 5.9% YTD, including the session's moves
($1 = 1.3978 Australian dollars)
(Reporting by Shivangi Lahiri in Bengaluru)
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Australia's Coles falls on smaller-than-expected supermarkets growth at start of FY27