Coles profit and online orders up
Coles has reported a $1.1 billion profit for the last financial year, and says e-commerce sales leapt by 30 per cent over the period.
Coles reported a major jump in e-commerce sales as it rolled out changes to its app and website to improve and personalise customer experiences.
The supermarket giant announced on Tuesday it had $3.7 billion in e-commerce supermarket sales in the 53 weeks to June 30, up from $2.8b in 2022/23.
Online sales made up 9.4 per cent of all sales, up from 7.5 per cent the year before.
The company said it worked to significantly reduce Click and Collect wait times and added several other new digital features in 2023/24.
Overall, Coles had $39b in annual sales, up 6.2 per cent from the slightly shorter previous financial year, or a rise of 4.3 per cent on a normalised 52-week basis.
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Coles’ profit rose 2.1 per cent to $1.1 billion on a normalised basis.
The company has declared a 32 cents per share fully franked dividend, taking its total dividends to the year to 68 cents per share.
– with AAP
