Coles loses sales to rivals

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Coles loses sales to rivals
Australian retailer Coles Group has lost $A350 mn (US$275mn) in sales from the failed rebadging of its Bi-Lo supermarkets. Stockbroker Citigroup estimated that the rebadging of Bi-Lo to Coles outlets had caused the loss in sales as unhappy customers moved to rivals.

Especially Woolworths and Metcash belong to the beneficiaries of Coles’ mismanagement, Citigroup calculates. Woolworths is thought to have gained about 45 per cent of the sales and Metcash's IGA stores 42 per cent. Woolworths' third-quarter sales, to be released on 17 April 2007, are expected to reflect the increase in customers.
Published 17-04-2007 (13:06) by Pascal Kuipers

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