Business
Coles Brand products a hit with customers as supermarket posts $560m profit – NEWS.com.au
Coles Brand products a hit with customers as supermarket posts $560m profit
Coles massive profit jump on the back of shelf-stripping panic buying during the pandemic was driven by the surge in sales of its Coles-branded items. Private-label brands owned by Coles, including Wild Tides tuna, Daley St coffee, Koi soap and Woofin’ Good dog food, accounted for 32 per cent of the supermarket’s sales in the last six months of 2020.
Sales of the Coles-owned brands spiked 10 per cent during the last half of the year which helped boost the supermarket’s retail profit.
The supermarket…
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