Coles Liquor has reported a return to sales revenue growth in the third quarter of FY23, with the business no longer cycling on-premise restrictions in the prior corresponding period.
Liquor sales revenue of $801 million for the third quarter increased by 2.6%. Gross retail sales of $803 million increased by
2.4% and comparable sales grew by 1.5% on the prior corresponding period.
Sales growth was driven by continued growth in eCommerce of 28.9% as well as growth in the Exclusive Liquor Brands (ELB) portfolio of 15.2% compared to the prior corresponding period.
Liquorland continued to be the strongest performing banner with 39 Black & White renewals completed during the quarter, while RTD remained the strongest performing category.
In the ELB portfolio, 19 new products were added during the quarter including Billson’s Sour Blueberry Vodka Mixed Drink in the RTD category and Muff Gin and Vodka in the Spirits category. 71 ELB awards were also received including a Gold
medal at the Beverage Packaging Design of the Year Award for the Banrock Station Eco Bottle.
Coles Liquor sales revenue was also impacted by inflation as a result of supplier-led cost price increases in the third quarter, following the February excise increase.
“As I hand over the reins of this iconic, and now “essential” 109-year old company to Leah Weckert on Monday, I am proud
of what has been achieved for all our stakeholders over the last five years since demerger,” said departing CEO Steve Cain.
“Customers rate Coles as one of Australia’s most trusted brands, and our millions of direct and indirect shareholders have benefited from upper quartile returns.
“For our team and community, Coles is a more diverse and inclusive organisation, with sustainability credentials
that have been recognised globally. The technology capability of Coles and our partners will continue to accelerate,
with our first automated DC, the biggest single capital investment in Coles’ history, a real milestone. I would like to thank
everyone at Coles Group, including Coles Express, and our various partners, for their support and wish them continued
success. I know that the best is yet to come.”
Categories: Business
