Coles has profited from elevated grocery activity due to COVID with the supermarket giant reporting a 10.5 per cent group sales revenue to $9.6 billion throughout the first quarter of FY21. In Victoria, Coles online sales doubled during its Stage 4 lockdown.
Cadence Property Group has purchased an industrial asset in Brisbane’s newest e-commerce industrial and logistics hub next door to Coles’ new automated distribution centre. Australia Post, Northline, Asahi Beverages and Rheinmetall occupy major facilities that neighbour the site.
Coles Group have announced a new State General Manager for Victoria and Tasmania who will be responsible for the operation of more than 230 Coles supermarkets.
Coles, Woolworths, Metcash, Aldi, and other grocery retailers have been approved by the ACCC to continue cooperating together to ensure supply of food and groceries in response to the COVID-19 pandemic.
In the supermarket giant’s full-year results released today, Coles’ has reported profit growth for the first time in four years. Net profit from continuing operations rose 7.1 per cent to $951 million. Coles credits its performance to pop-up distribution centres, stock replenishment system and advanced data analytics.
Coles has just opened a new $43 million-dollar banana ripening facility in Melbourne that uses new ‘tarpless’ ripening technology – a first for Australia.
Supermarket operators including Coles, Woolworths and Aldi, will be able to continue working together until March 2021 to ensure the continued supply of food and groceries during the COVID-19 pandemic, under the ACCC’s draft determination.
Online grocery shopping the next big battleground for supermarket giants. New data has revealed Australians spent $94.6 billion in supermarkets in the year to March 2020, with Woolworths and Coles Group capitalising on 67.5 per cent of that total.
Supermarket giants have reintroduced product buying restrictions following a resurgence in panic buying across stores in Melbourne, ramping up safety measures across Victorian distribution centres. Woolworths doubled its online capacity and Coles repurposed a supermarket in Coburg as a pop-up fulfilment centre.
Charter Hall Retail Management has purchased a $111.8 million or 52 per cent interest in a $215 million high quality purpose-built distribution facility fully leased to Coles for 14.5 years.