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Coles pockets $1 billion profit as Smarter Selling pays off

Inside Retail

Coles’ Smarter Selling strategy is paying off for the Australian supermarket giant, with approximately $300 million in extra savings in the bank at the end of FY21. At its full year results announcement on Wednesday morning, Coles revealed that net profit broke the one-billion-dollar mark, rising 2.8 per cent to $1.005 billion.

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Woolworths declares $2bn share buyback as profit hits $2.07bn

Inside Retail

Woolworths has announced a $2 billion share buyback following the demerger of its drinks business Endeavour Group and a strong year at the supermarket checkouts. per cent lift in net profit to $2.07 Physical supermarket sales increased by 2.0 Online penetration for supermarkets is quite interesting – 8.5

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Meijer marks supercenter’s 60th anniversary

Mass Relators

In 1955, one of the small company’s supermarkets added a department to sell general merchandise. Dubbed the “Home Center,” it offered clothing, shoes and accessories, hardware items and housewares, in addition to the supermarket offerings Meijer had always provided. The stores would come to be known as supercenters.