Business · Companies · 2 hrs ago
Coles shares fall 10% after warning of flat first-half profits
Coles shares fell 10% after its latest quarterly results, wiping about $3 billion from the Australian supermarket chain’s market value.
Coles said supermarket sales revenue rose 3.6% to $10.3 billion in the three months to September, helped by online sales.
But customers are seeking value and shopping across retailers, as cost-of-living pressures lead them to use specials and loyalty programs.
The company said stronger competition, including Woolworths’ pricing strategies, had slowed its sales momentum.
Higher fuel costs will add to Coles’ expenses in the coming months.
Coles expects first-half supermarket profits to be flat compared with the same period a year earlier, weaker than market expectations.
The company’s outlook covers the coming months, but it did not give a more specific forecast for what happens after the first half.
Coles shares fell 10 per cent after the supermarket said it expected flat first-half profits.
The share-price drop wiped about $3 billion off Coles’ market value.
Coles said high fuel costs and stronger competition were weighing on its outlook.
Supermarkets sales revenue rose 3.6 per cent to $10.3 billion in the three months to September.
The company said customers were seeking value through specials and loyalty programs.
- Who
- Coles, the Australian supermarket company.
- What
- Its shares fell 10 per cent after it forecast flat first-half profits.
- When
- October 30, 2026.
- Where
- Australia; a specific location for the share-price fall was not stated.
- Why
- Coles cited high fuel costs and stronger competition, while customers remained under cost-of-living pressure.
This story does not have two clearly opposing sides.
Coles’ supermarkets sales revenue grew 3.6 per cent to $10.3 billion.
Coles reported its quarterly results and said it expected flat first-half profits.
Coles shares fell 10 per cent.
- Share-price fall
- 10 per cent
- Market value wiped off
- About $3 billion
- First-half profit outlook
- Flat
- Supermarkets sales revenue
- $10.3 billion, up 3.6 per cent in the three months to September
What people are saying
Customers are really feeling the pressure on their household budgets
They’re really seeking out value now by buying more specials and they’re using their loyalty points. As we come into Christmas...there will be more meals eaten at home, less going out.
The downgrade appears to be driven by price investment as supermarket sales have clearly been impacted by Woolworths’ pricing strategies