Australia's Coles plunges as supermarkets sales revenue miss estimates

Woolworths

30/10/2026 24:18

** Shares of Coles Group COL.AX fall as much as 12.8% to A$20.47, their lowest level since May 14
** Stock logs its weakest intraday trading session ever, if current trends hold
** The grocery retailer says supermarket sales growth slowed in first four weeks of Q2 from 3.6% in Q1, missing a Visible Alpha consensus forecast of 5%
** Q1 sales revenue at company's Supermarkets division came in at A$10.32 bln ($7.26 bln), marginally missing VA consensus estimate A$10.39 bln
** Co expects to incur additional fuel-related costs in the first half compared to the prior corresponding period
** Larger peer Woolworths Group WOW.AX shares up as much as 1.6% to A$40.12 by 0015 GMT
** The downgrade appears to be driven by price investment as supermarket sales have clearly been impacted by Woolworths' pricing strategies - Citi
** YTD, stock down 2.8%, including the day's moves


($1 = 1.4221 Australian dollars)

 (Reporting by Tejas Harish in Bengaluru)
 ((tejas.harish@thomsonreuters.com;))