Australia's Coles profit slips as costs offset holiday shopping boom
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 26 2025
0mins
Source: Reuters
Coles Group Profit Decline: Coles Group reported a 3% drop in first-half profit, with net profit after tax at A$576 million, attributed to increased financing costs despite a 4.3% sales growth in its Supermarket unit driven by holiday shopping.
Leadership Change Announcement: The company announced that Chairman James Graham will retire on April 30, to be succeeded by Peter Allen, former CEO of Scentre Group.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
