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UBS reports that Coles has surpassed Woolworths in retail performance for the first time in eight years. Woolworths Group Limited operates across several segments, including Australian Food, B2B, New Zealand Food, BIG W, and other support functions, focusing on the procurement and distribution of food and related products.
Coles has surpassed Woolworths for the first time in eight years, according to UBS. Woolworths Group Limited operates various segments, including Australian Food, Business-to-Business, New Zealand Food, and BIG W, providing a range of products and services to retail and corporate customers across Australia and New Zealand.
The ASX 200 is down 21 points (-0.26%) at 8159, on track to finish October approximately 1.3% lower after a record high of 8384. Retail sales rose only 0.1% in September, indicating cautious consumer behavior, while Woolworths shares fell 2.3% following a profit warning amid cost-of-living pressures. In contrast, Coles reported stable sales growth and avoided a profit warning, though its shares slipped 1.02%.
The ASX 200 has dropped 45 points (-0.55%) to 8203, ending a three-day winning streak after Q3 inflation data indicated no imminent RBA rate cuts, now expected until 2025. The trimmed mean inflation rose by 0.8% quarterly, with annual inflation falling to 3.5%, driven by declines in electricity and fuel prices. Woolworths' shares fell 5.5% following a profit downgrade, reflecting consumer shifts amid cost-of-living pressures.
Woolworths Group Limited
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Coles surpasses Woolworths in retail performance for the first time in eight years
03:10 31.01.2025
coles surpasses woolworths in market performance for the first time in eight years
03:10 31.01.2025
ASX 200 declines amid economic concerns and cautious retail sales data
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