April 28, 2020 / 10:58 PM / a month ago

BRIEF-Coles Posts Qtrly Supermarkets Sales Of $8,230 Mln

April 29 (Reuters) - Coles Group Ltd:

* QTRLY SUPERMARKETS SALES $8,230 MILLION VERSUS $7,232 MILLION

* Q3 TOTAL SALES $9,226 MILLION VERSUS $8,173 MILLION

* Q3 SUPERMARKETS COMPARABLE SALES GROWTH 13.1% VERSUS 2.4%

* LIQUOR COMPARABLE SALES GROWTH OF 7.2% FOR Q3

* LIQUOR NEGATIVELY HIT BY BUSHFIRE SMOG OVER CAPITAL CITIES AND FLOODS IN JAN, FEB BEFORE COVID-19 IMPACT

* IN LATE FEB, SUPERMARKET SALES GROWTH WAS IMPACTED BY CUSTOMER STOCK PILING DUE TO RISING CONCERNS ON COVID-19

* CUSTOMER STOCK PILING DUE TO RISING CONCERNS ON COVID-19 CONTINUED THROUGHOUT MARCH

* IN FIRST 4 WEEKS OF Q4, SUPERMARKETS COMP SALES GROWTH BROADLY TRENDED BACK TOWARD LEVELS IN EARLY Q3

* UNPRECEDENTED DEMAND LED CO TO BEGIN PLACING PRODUCT LIMITS PER CUSTOMER IN CERTAIN CATEGORIES FROM EARLY MARCH

* GROSS OPERATING CAPEX IN FY20 NOW EXPECTED TO BE $750 MILLION TO $850 MILLION

* IN Q4, EXPECTS ELEVATED COST BASE DUE TO ADDITIONAL INVESTMENT AS A RESULT OF COVID-19

* WHILE COLES EXPERIENCED SALES UPLIFT IN LATTER PART OF QUARTER INCREMENTAL COSTS ALSO INCURRED IN CLEANING & SECURITY

* LIQUOR EXPECTED TO CONTINUE TO EXPERIENCE ELEVATED SALES AS LONG AS RESTRICTIONS ON HOTELS,PUBS,CLUBS&LICENSED VENUE OPERATORS CONTINUES

* EXPRESS NOW EXPECTS TO REPORT AN EBIT LOSS, ON A PRE-AASB 16 BASIS, FOR 2020 FY

* RESTRICTIONS PLACED ON NUMBER OF CATEGORIES GRADUALLY BEING LIFTED AS DEMAND REDUCES & SUPPLY IMPROVES Source: bit.ly/2Wc3NNI Further company coverage:

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