Coles and Woolies have recorded increased sales for the first quarter of the year.
Coles’ sales grew 5.1% in the first three months of 2024, compared to the previous year.
Woolies recorded a 2.8% increase for the quarter.
It comes amid several ongoing inquiries into the two major supermarkets, as they face questions over their conduct and profits during a cost of living crisis.
Context
According to data released this week, Coles reported around $10 billion in sales over the January to March period.
While Woolworths recorded a smaller percentage increase in sales for the quarter (2.8% compared to 5.1%), its boosted sales added up to $16.8 billion in revenue.
Sales results are different to profits, which take into account business expenses such as wages and taxes.
Coles and Woolies’ first quarter results
According to data released this week, Coles reported around $10 billion in sales over the January to March period.
While Woolworths recorded a smaller percentage increase in sales for the quarter (2.8% compared to 5.1%), its boosted sales added up to $16.8 billion in revenue.
Sales results are different to profits, which take into account business expenses such as wages and taxes.
