Forget the apples, Coles is kicking goals

After rebates that weren’t rebates and fresh bread that wasn’t fresh, Coles is in hot water again over fresh spring apples that went into storage last autumn. It might seem like the Wesfarmers (ASX: WES)-owned retailer can’t take a trick at the moment, but the real truth is revealed at the checkout: in the three months to 30 September, Coles’ food and liquor sales rose a whopping 5.8% from a year earlier, and 4.3% on a like-for-like basis. And it’s unlikely to have been at the expense of margins, with price deflation of just 0.5%. Meanwhile, archrival Woolworths (ASX: WOW)...

After rebates that weren’t rebates and fresh bread that wasn’t fresh, Coles is in hot water again over fresh spring apples that went into storage last autumn. It might seem like the Wesfarmers (ASX: WES)-owned retailer can’t take a trick at the moment, but the real truth is revealed at the checkout: in the three months to 30 September, Coles’ food and liquor sales rose a whopping 5.8% from a year earlier, and 4.3% on a like-for-like basis. And it’s unlikely to have been at the expense of margins, with price deflation of just 0.5%.

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