Retail in Asia

In Sectors

Coles slows but beats Woolworths again

Growth at Coles supermarkets has slowed in the third quarter, even as it continues to win customers away from arch-rival Woolworths.

Coles owner Wesfarmers said on Tuesday same-store food and liquor sales at Coles, which makes up about half of group revenue, rose 2.7 percent in the March quarter from a year earlier.

That was just below market forecasts of 2.8 percent growth, but still trounced flat sales in the third quarter at Woolworths, which has declined from double-digit growth over the past four years as Coles revamped its network.