Coles shares slump after earnings downgrade as ASX retailers report soft sales
Coles now expects first-half supermarket EBIT of about $1.23bn, a 7% miss, and shares fell as much as 12.7%, per marketindex.com.au.
- published on Newsmetry
- original source published
the same feed is available to bots and dashboards through the api. connect the api →
what happened
Coles now expects first-half Supermarkets EBIT of about $1.23bn, which is flat on the figure it gave and below the $1.32bn analysts had forecast, a miss of around 7%. Its comparable sales rose 2.7% in the first quarter of FY27, short of full-year estimates of 3.4–3.7%. Shares fell as much as 12.7% on Friday, according to marketindex.com.au.
Other retailers also reported a cautious picture. JB Hi-Fi Australia comparable sales fell 1.4%, Wesfarmers said Bunnings growth has moderated, and Woolworths traded about 1% higher. Coles CEO Leah Weckert said household budgets are under pressure.
why it matters
The ASX 200 is holding near a two-month high, but the Consumer Discretionary sector is already down about 10% since August. Woolworths rising while Coles fell suggests the drop is company-specific rather than sector-wide. Investor sentiment, per marketindex.com.au, hit its gloomiest reading in the 18-month survey record.
market impact
Coles: lower EBIT outlook pressures the stock; Woolworths barely affected
- Coles shares pressure down — lower EBIT outlook and soft first-quarter sales
instruments
sources
- Weekend Wrap: Coles cops it, Anthropic's IPO and a very weird market — marketindex.com.au, 31 October 2026 at 21:30 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
alerts on your topics, the morning digest and the api — in your account.
get stories in real time ↗