19 stories mentioning ASX:COL
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Coles Group's (ASX:COL) shares fell past 2% in recent trading on Monday as investors left defensive stock picks after US President Donald Trump said the US and Iran would sign a peace agreement.Trump said that the US would be ending its blockade of Iran, and the critical Strait of Hormuz would open.
Coles Group's (ASX:COL) proposed acquisition of a leasehold interest in a New South Wales shopping center is under a phase one review by the Australian Competition and Consumer Commission (ACCC), the regulator said Tuesday.Australian private company Minto Marketplace operates Minto Mall, a shopping center that is currently anchored by Woolworths Group (ASX:WOW) and Kmart.The proposed Coles supermarket at the Minto Mall is expected to open on March 1, 2028.The ACCC has launched a consultation on the deal that runs through June 16, and the phase one assessment is due to end by July 21.
Coles Group's (ASX:COL) shares fell marginally in early trading on Friday after the Australian Competition and Consumer Commission (ACCC) said in a statement on Thursday that it was assessing the impact on competition of its proposed acquisition of a lease over a new supermarket site to be constructed within a new mixed-use development in New South Wales.The development is located at 5 Olympic Drive and 14-24 Childs Street in Lidcombe.The regulator asked for submissions or information regarding the assessment by June 12.
Endeavour Group (ASX:EDV) offers scope for market share gains despite near-term earnings uncertainty, according to Citi analyst Sam Teeger, the Australian Financial Review (AFR) reported on Thursday.The new management's focus on price could help it regain share from Coles (ASX:COL) and other competitors, particularly in the retail alcohol space, Teeger said, per the report.He sees any asset sales in the company's wine and vineyard portfolio as a potential positive for execution focus.Citi upgraded Endeavour to buy and lowered the price target by 6% to AU$3.25.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
The Federal Court of Australia partially dismissed proceeding brought by Sahil Verma, a former employee of Coles Group's (ASX:COL) Coles Supermarkets Australia, alleging racial and disability discrimination as well as breaches of the Fair Work Act, noting that they have no reasonable prospects of success, according to a court document on Monday.Verma was employed by Coles Australia as a casual trolley collector from Nov. 22, 2021, until Feb. 9, 2024, when his employment was terminated. He alleged that an employee of Coles made racial comments toward him. The Fair Work Commission (FWC) dismissed Verma's application, finding that it had been made outside the 21 days after the date on which the dismissal took effect, contrary to legal requirements.Coles had submitted that Verma's claim was incompetent because the FWC had not issued a certificate in relation to the dispute before he applied to the court. Verma did not dispute that he had no such certificate.The court said that since Verma could not satisfy the legal requirements, the court did not have jurisdiction to entertain his claims.Verma had also lodged a complaint to the Australian Human Rights Commission (AHRC) on Nov. 10, 2024, alleging that he had been discriminated against because of his disability, a mental illness, and his race.Coles Group's shares fell nearly 1% in recent trading on Monday.
Endeavour Group (ASX:EDV) is facing structural headwinds to alcohol consumption, alongside a challenging consumer spending environment, which explains why management has not provided explicit earnings growth targets, according to a Thursday Jefferies note.Excess inventory is expected to support stock-related profits in fiscal year 2027, and there could also be upside if Coles Group (ASX:COL) exits the large-format liquor retail segment, the note added.Jefferies said that regulatory risk related to gaming operations remains an ongoing concern, and although the valuation appears depressed, the pathway to growing gross profit faster than costs remains unclear.Jefferies kept a hold rating on Endeavour and decreased its price target to AU$3.20 from AU$3.50.
Coles (ASX:COL) and Brownes Foods Operations each paid AU$39,600 in penalties after Australia's competition watchdog issued two infringement notices for separate alleged breaches of the country's mandatory dairy industry code.The Australian Competition and Consumer Commission (ACCC) alleged Coles Supermarkets Australia published two milk supply agreements requiring farmers to supply milk exclusively to Coles while imposing caps on the maximum volume of milk that could be produced, according to a Friday press release.Separately, the ACCC said Brownes published two milk supply agreements that did not clearly specify minimum prices across the full supply period or explain the basis for those prices."Dairy farmers need clear accurate information about supply terms and prices when deciding who they will supply," ACCC Deputy Chair Mick Keogh said."Volume caps in exclusive milk supply agreements are particularly concerning. They can cause significant harm to farmers by limiting milk production while also restricting their ability to supply multiple processors," Keogh added.The action comes a week after Australia's Federal Court found that Coles made false or misleading representations through its "Down Down" discount program in a separate case brought by the Australian Competition and Consumer Commission.The regulator alleged Coles offered illusory discounts on 245 products by temporarily raising prices before promoting the items as discounted.According to an earlier statement, Coles increased prices on selected products before offering them at promotional prices that were equal to or higher than their previous levels, making it harder for consumers to identify genuine discounts.The ACCC said three other dairy processors were also contacted over minor alleged breaches of the code and had taken steps to improve compliance after receiving warnings.Coles purchases about 490 million liters of fresh milk annually across southern Australia and Western Australia, while Brownes purchases about 150 million liters annually from about 50 dairy farmers in Western Australia, according to the ACCC.
Australia's Federal Court ruling against Coles Group (ASX:COL) in a misleading discount pricing case is negative but balanced, as the price increases were commercially justified, Jefferies said in a note on Thursday.According to the judgment, the retailer deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices, in a case first brought by the Australian Competition and Consumer Commission in 2024.However, the court also noted that Coles may have been "competitively disadvantaged" had it not acted as it did and this could influence the decision on penalties and may soften criticism from consumers, the firm said."With minimum price establishment period now set, the field is now level and we expect the industry to remain rational," Jefferies said.It expects major retail chains to benefit from higher inflation but sees margin expansion as limited due to continued political and media scrutiny.Jefferies maintained a buy rating and price target of AU$25.50 on Coles.
Australian shares were flat with positive bias on Thursday as the summit between the US and Chinese Presidents gets underway.The S&P/ASX 200 Index was little changed to close at 8,640.70.US President Donald Trump and Chinese counterpart Xi Jinping met in Beijing. Brent crude oil futures were trading around $105.89 per barrel. Gold fell as the hotter-than-expected US inflation data increased the chances of a tighter monetary policy in the US.On the domestic front, Australia's household spending fell 1.2% in April, reversing a fuel-driven surge in March as lower spending on petrol and public transport weighed on transport and recreation spending, according to the Commonwealth Bank of Australia's Household Spending Insights."The oil shock resulting from the current Middle East conflict has not had the size of impact that was initially expected," the bank's head of Australian Economics, Belinda Allen, said.In company news, Australia's Federal Court ruled Thursday that Coles Group (ASX:COL) deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices. The case against Coles was brought by the Australian Competition and Consumer Commission (ACCC) in 2024, saying Coles increased prices on certain items for a very short period of time before putting them on a discount, making the promotions illusory in nature. Its shares fell 2% on market close.Xero (ASX:XRO) reported Thursday that it swung to a loss of NZ$0.19 per share in the fiscal year 2026 from a profit of NZ$1.47 a year earlier. Total operating revenue for the 12 months ended March 31 was NZ$2.75 billion, compared with NZ$2.1 billion a year earlier. Its shares closed down 9%.Lastly, Megaport (ASX:MP1) said its unit Latitude.sh has secured three major GPU, CPU, network, and storage contracts with a combined total contract value (TCV) of about AU$254 million and annualized recurring revenue (ARR) of about AU$90.6 million. Its shares were up 28% on market close.
(Updates with a statement from Coles in the fifth paragraph and the latest stock move in the last paragraph.)Australia's Federal Court ruled Thursday that Coles Group (ASX:COL) deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices, according to multiple same-day media reports.The case against Coles was brought by the Australian Competition and Consumer Commission (ACCC) in 2024. The consumer watchdog also filed similar allegations against Woolworths Group (ASX:WOW), with that lawsuit still pending a verdict.The ACCC said Coles increased prices on certain items for a very short period of time before putting them on a discount, making the promotions illusory in nature. For example, the price of a dog food product sold for AU$4 for almost a year was briefly raised to AU$6 before being discounted to AU$4.50 as part of its "Down Down" price campaign, according to the reports."13 of the 14 'Down Down' tickets that were the subject of consideration in the joint liability trial were misleading because the relevant products were not sold at the 'was' price stated on the ticket for a reasonable period," Federal Court judge Michael O'Bryan reportedly said in his decision.In a statement, Coles said the court found that all price hikes "resulted from supplier cost price increases and were, therefore, commercially justifiable." The case highlights the "need for clear, practical guidance on minimum price establishment periods to ensure the retail industry can avoid unnecessary litigation in future," the company said, adding that it is reviewing the judgment.The company's shares fell nearly 3% in recent Thursday trade.
Financials stocks led gainers with a rise of about 0.1% in midday trading Thursday.ASX (ASX:ASX) advanced nearly 2% after it appointed Anthony Attia as chief executive, effective Sept. 1.On the flip side, consumer staples stocks shed 2.3% to lead decliners in a broadly lower market.Coles Group (ASX:COL) fell past 3% after Australia's Federal Court ruled that the retailer deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices.
Australia's Federal Court ruled Thursday that Coles Group (ASX:COL) deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices, according to multiple same-day media reports.The case against Coles was brought by the Australian Competition and Consumer Commission (ACCC) in 2024. The consumer watchdog also filed similar allegations against Woolworths Group (ASX:WOW), with that lawsuit still pending a verdict.The ACCC said Coles increased prices on certain items for a very short period of time before putting them on a discount, making the promotions illusory in nature. For example, the price of a dog food product sold for AU$4 for almost a year was briefly raised to AU$6 before being discounted to AU$4.50 as part of its "Down Down" price campaign, according to the reports."13 of the 14 'Down Down' tickets that were the subject of consideration in the joint liability trial were misleading because the relevant products were not sold at the 'was' price stated on the ticket for a reasonable period," Federal Court judge Michael O'Bryan reportedly said in his decision.Coles did not immediately respond to a request for comment from.The company's shares fell 1% in recent Thursday trade.
Coles Group (ASX:COL) Chief Executive Leah Weckert said price hikes for groceries are "inevitable" as the supermarket chain and its suppliers deal with higher fuel costs, Bloomberg reported Monday.Speaking at an Australian Shareholders' Association conference in Melbourne, Weckert said that the trend is showing up in supermarket data, with shoppers opting for beef mince or chicken over steak, while also making fewer trips to stores to cut fuel costs.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Australian shares swung back to positive territory on Friday's close as equities received a boost from earnings season in the US and oil prices eased.The S&P/ASX 200 Index rose 0.74%, or 64 points, to close at 8,729.80.Brent crude oil futures were trading over $111 per barrel. The Strait of Hormuz remained closed, and Iran said it would respond with "long and painful strikes" on US positions if the US renewed attacks.Strong corporate earnings lead to a rally in tech stocks on Wall Street. The US gross domestic product (GDP) increased at a 2% annualized rate last quarter, compared with a 0.5% pace in the fourth quarter, the Commerce Department's Bureau of Economic Analysis said.On the domestic front, Australia's producer prices, excluding exports, increased 0.4% in the March quarter, following a 0.8% rise in the December 2025 quarter, according to data from the Australian Bureau of Statistics.Australia's manufacturing sector returned to expansion in April, though the improvement was outweighed by major supply-chain disruptions and a sharp rise in costs linked to fuel and freight pressures arising from the Middle East conflict, according to a survey by S&P Global.The headline seasonally adjusted S&P Global Australia Manufacturing Purchasing Manager's Index (PMI) rose to 51.3 in April from 49.8 in March.Australia's home value index edged 0.3% higher in April, registering its slowest pace of growth since January 2025 amid declines in Sydney and Melbourne, according to figures from Cotality.In company news, ANZ Group Holdings (ASX:ANZ, NZE:ANZ) reported fiscal first-half cash earnings of AU$1.242 per share, up from AU$1.17 a year earlier. Operating income for the six months ended March 31 was AU$11.2 billion, compared with about AU$11 billion a year earlier. Its shares fell 2% at market close.Coles Group (ASX:COL) sales revenue for the fiscal third quarter was AU$10.7 billion, up from AU$10.38 billion a year earlier. The increase was driven by a 4% growth in the supermarket segment's sales revenue to AU$9.78 billion. Its shares closed up 3%.Lastly, Qantas Airways (ASX:QAN) and its Jetstar unit are set to extend previously disclosed schedule changes across their international and domestic network into the first quarter of fiscal year 2027, aiming to mitigate the impact of significantly higher fuel prices due to the Middle East conflict. Its shares closed up 1%.
Coles Group (ASX:COL) delivered overall "solid" results for the fiscal third quarter as its own-brand sales in the food segment continued to outperform, Jarden said in a Friday note.Supermarket sales increased 4% year over year to about AU$9.8 billion, in line with Jarden's estimates, and are also off to a strong start in the fiscal fourth quarter.However, liquor sales of AU$781 million were down nearly 4% from the prior year and 2% below Jarden's estimate, showing "little sign of any benefit of the re-badge coming through," the equity research firm said.It added that the disappointment in liquor was not unexpected and is not too material.Coles Group flagged earnings pressure in the liquor segment for the fiscal second half, but the company continues to execute well, Jarden said, adding that it expects very modest downgrades to consensus forecasts.Jarden maintained an overweight rating on the company with a target price of AU$21.60.
(Updates to add stock movement in the last paragraph)Coles Group (ASX:COL) sales revenue for the fiscal third quarter was AU$10.7 billion, up from AU$10.38 billion a year earlier, according to a Friday filing with the Australian bourse.The increase was driven by a 4% growth in the supermarket segment's sales revenue to AU$9.78 billion, per the filing. Liquor sales revenue fell 3.9% to AU$781 million.The company noted that supermarket sales have stayed broadly stable in the early fourth quarter despite higher input costs, while weaker consumer sentiment in liquor since March is expected to weigh on second-half earnings through reduced cost absorption.The company's shares rose past 2% in recent Friday trade.
Australian shares are poised to rise on Friday as oil prices eased from earlier four-year highs amid volatile trading driven by escalating US-Iran tensions and fears over potential disruptions to Middle East crude supplies.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1%, 0.9%, and 1.6%, respectively.In the macroeconomy, the Australian manufacturing sector returned to modest growth in April, though the improvement masked growing strain from Middle East-driven supply chain disruptions, surging fuel costs, and continued weakness in orders and production, according to a survey by S&P Global.Australia's home value index edged 0.3% higher in April, registering its slowest pace of growth since January 2025 amid declines in Sydney and Melbourne, according to figures from Cotality.Australia's producer price indexes report is due at 11:30 am Sydney time.In corporate news, ANZ Group Holdings (ASX:ANZ) reported Friday fiscal first-half cash earnings of AU$1.242 per share on operating income of AU$11.2 billion, compared with cash earnings of AU$1.17 on operating income of AU$11 billion a year earlier.ResMed (ASX:RMD) reported Friday fiscal third-quarter non-GAAP earnings of $2.86 per share on revenue of $1.43 billion, compared with earnings of $2.37 on revenue of $1.29 billion a year earlier.Coles Group (ASX:COL) sales revenue for the fiscal third quarter was AU$10.7 billion, up from AU$10.38 billion a year earlier.Australia's benchmark index fell 0.2% or 21.2 points to close at 8,665.80 on Thursday.
Coles Group (ASX:COL) sales revenue for the fiscal third quarter was AU$10.7 billion, up from AU$10.38 billion a year earlier, according to a Friday filing with the Australian bourse.The increase was driven by a 4% growth in the supermarket segment's sales revenue to AU$9.78 billion, per the filing. Liquor sales revenue fell 3.9% to AU$781 million.The company noted that supermarket sales have stayed broadly stable in the early fourth quarter despite higher input costs, while weaker consumer sentiment in liquor since March is expected to weigh on second-half earnings through reduced cost absorption.
Consumer staples stocks were advancing about 0.5% in midday trading Tuesday, posting a very thin lead over gains for information technology shares.Woolworths Group (ASX:WOW) was up nearly 1% and Coles Group (ASX:COL) rose less than 1%.On the flip side, energy stocks were down 1% as oil prices trended lower amid hopes that Iran will join a second round of peace negotiations with the US.Woodside Energy Group (ASX:WDS) was shedding almost 2%, while Santos (ASX:STO) was down more than 1%.