Coles Group (COL) Q1 2026 earnings summary

Executive summary

• Group sales revenue for the first quarter rose 3.9% year-over-year to $10,963 million, driven by strong Supermarkets performance and 27.9% e-commerce growth.

• Supermarkets delivered 4.8% sales growth (7% excluding tobacco), with comparable sales up 4.6%.

• Liquor sales revenue declined 1.1% amid ongoing market softness and value-focused consumers.

• Focus on value, quality, and customer experience, with major transformation projects and digital initiatives supporting momentum.

• Over 340 new own-brand products and specialty drinks launched for the festive season.

Financial highlights

• Supermarkets sales revenue reached $9,965 million, up 4.8% year-over-year; comparable sales grew 4.6%.

• E-commerce sales in Supermarkets surged 27.9% to $1,321 million, with penetration at 13.3%.

• Liquor sales revenue was $842 million, down 1.1% year-over-year, with comparable sales down 1.4%.

• Tobacco sales dropped 57% due to legislative changes, now stabilized and less than 2% of total sales.

• Other segment revenue was $156 million, primarily from the Product Supply Agreement with Viva Energy.

Outlook and guidance

• Supermarket sales revenue growth has remained steady into the second quarter, with a focus on value, range, and execution for the festive season.

• Expect to complete most Simply Liquorland conversions by year-end.

• Continued emphasis on omnichannel experience and tailored offerings for the festive season.

• Cycling last year’s competitor supply chain industrial action in coming months.