Coles Shares Fall Most Since 2020 on Rival Promotions
Australias Coles posted its steepest share decline in over six years as aggressive competitor promotions and price-conscious shoppers weighed on sales growth. The supermarket chain missed revenue estimates and expects flat first-half earnings amid rising fuel costs.
Xurve View
Insights:
Xurve View
COLES GROUP LTD shares tumbled 7.7% to A$21.66 on Friday afternoon after intense promotional pressure from rivals squeezed early second-quarter sales across Australia.
