Australia’s No. 2 Grocer Coles Posts 13.7% Rise in Full-Year Profit
- On Tuesday, Coles CEO Leah Weckert announced a 13.7 per cent rise in adjusted net profit to $1.255 billion for fiscal 2026, with total revenue growing 2.8 per cent to $45.6 billion.
- Following Federal Court findings that Coles misled customers with "Down Down" discounts, the Annual Report revealed the board docked Weckert's pay by $414,000 and Chief Operating Officer Matt Swindells' salary by $82,800.
- The company's bottom line absorbed a $235 million provision for historical underpayments in a Fair Work case, while online sales surged 26 per cent and Coles Finest sales grew 9 per cent.
- Coles expanded its FlyBuys program to 10 million members and launched an on-demand delivery partnership with Uber Eats, attributing sales growth to "exclusive to Coles" ranges and increased customer satisfaction.
- Weckert warned of potential inflation in the next 12 months, while the supermarket chain plans to renovate 150 sites and open 45 stores over the next two years.
14 Articles
14 Articles
Coles Profits Up Nearly 14 Percent Despite $235 Million Staff Underpayment Hit
Supermarket giant Coles has returned higher sales and profits despite what group managing director and CEO Leah Weckert calls a “challenging operating environment” The company’s 2026 full-year results (pdf) record a 2.8 percent jump in sales to $45.58 billion and a 9.9 percent rise in earnings before interest and tax (EBIT) to $2.32 billion. However, that’s before an offset of $235 million for underpaying staff. Net profit after tax did even b…
Coles Group grows profit and dividend as Supermarkets shine in FY26
The Coles Group Ltd (ASX: COL) share price will be closely watched today after full-year sales revenue rose 2.8% to $45.6 billion and earnings (EBIT, excluding significant items) jumped 9.9%, led by strong Supermarkets performance. What did Coles Group report? Group sales revenue up 2.8% to $45,580 million EBIT (excluding significant items) up 9.9% to $2,322 million NPAT (excluding significant items) up 13.7% to $1,255 million Fully franked tot…
Sydney Morning Herald
Why Coles won’t copy Woolies’ Ooshies sugar hit
The results of Australia’s second-largest supermarket took a hit from its rival’s wildly popular collectables campaign. But Coles chief Leah Weckert says this was only temporary.
Australia's No. 2 grocer Coles posts 13.7% rise in full-year profit
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