June 17, 2019 / 10:05 PM / a month ago

Australia's Coles looks to technology to cut $685 million in costs

June 18 (Reuters) - Coles Group Ltd, Australia’s second-biggest grocery chain, unveiled a planned A$1 billion ($685.40 million) in cost savings by financial year 2023 on Tuesday, as the company looks to technology to cut costs.

The supermarket sector is battling intense competition, squeezed by rising costs and lower consumer spending. ($1 = 1.4590 Australian dollars) (Reporting by Nikhil Kurian Nainan in Bengaluru Editing by Matthew Lewis)

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