Wesfarmers Ltd says its Coles retailing business had a solid performance in the first quarter of 2009/10 on the back of rising food and liquor sales, and an improvement in consumer confidence.
Coles managing director Ian McLeod will tell an investor briefing in Sydney on Friday that price inflation was flat in the three months ended September 27, according to a slide presentation lodged with the stock exchange.
Coles' food and liquor sales rose 7.3 per cent in the quarter, from the same period a year earlier, and were up 6.1 per cent on a same store basis.
Fuel and convenience sales also grew, by 6.5 per cent and by 1.3 per cent on a like-for-like basis.
© 2009 AAP
