COL - Coles Group

[Miner]

I went to a Coles last night with a craving for liverwurst.
None.
The deli area has been replaced with pre sliced salami etc in fridges.
Over the other side of the shop near yoghurt and fresh juices are the brand names salamis, Don, Hans etc
No liverwurst anywhere but a million different other processed crap stuffs, hot dog franks, salamis, hams etc etc mind boggling the array of stuff between both sections.

So I tried a different Coles today... same deal. No liverwurst.
I asked a staff member who said they don't sell it anymore and pointed to the area on the shelf where she used to place them.... no price tag anymore.

My craving for liverwurst drove me to a Woolworths....
They had some Don brand. They were out of another brand, but the price label was right there next to the other one.

Mmmmmm, Latvian liverwurst.
Yummo.
Mostly, only older people would understand this liking for such an offal product.
Craving satisfied, no thanks to Coles though.
For shame Coles...
?

Did you sell the COL and WOW shares after your visits ? :
What about all racks are out of toilet rolls, no more discounted Digestive biscuits and the useless chocolate ones at premium price.
COVID is a big business opportunity for these super markets under disguise.
IGA has every thing on the stock but they also charging higher price.
So the question is MTS, COL or WOW ?

 

[sptrawler]

Did you sell the COL and WOW shares after your visits ? :
What about all racks are out of toilet rolls, no more discounted Digestive biscuits and the useless chocolate ones at premium price.
COVID is a big business opportunity for these super markets under disguise.
IGA has every thing on the stock but they also charging higher price.
So the question is MTS, COL or WOW ?

I sold WOW and went AFI. ?
Still have some COL, outside the SMSF, but looking to do an OMT into the SMSF as I have plenty of capital losses to offset it.

 

[Dona Ferentes]

I wonder what the cost is?

On Friday, Flybuys emailed a number of members to let them know they had been incorrectly awarded bonus Flybuys points on some of their purchases at Coles due to an administrative error.

Now, I haven't dug too deep but I'd say my flybuys points went up by 2000 = $10 . Multiply by a few million cardholders and it could get expensive.

As a gesture of goodwill, Coles and Flybuys have decided to honour the points for customers who received them in error, and we are working to restore them to member balances as soon as possible.

Always messy when the coding doesn't drop properly.

We apologise to members for the inconvenience and have reviewed our procedures to prevent similar occurrences in future.

.... Of course you do, the alternative would be a bunfight, with ambo chasers shouting from the rooftops.

 

[Dona Ferentes]

nflation

“But as I sit here today, we have got five times as many requests for price increases as we had last year. Five times… And they’re not small amounts. It’s not 2 per cent or 3 per cent being asked for either”
- Stephen Cain, CEO, Coles Group Ltd

 

[Dona Ferentes]

Coles declared an improved final dividend of 30¢ up from 28¢ after growing its 2022 profit 4.3 per cent to $1.05 billion.

• Revenue increased two per cent to $39.75 billion;
• supermarkets were up 2.2 per cent to $34.62 billion and
• liquor lifted 2.5 per cent to $3.6 billion
• with gross margin expansion achieved in both categories, but cost of doing business pressures eroded EBIT margins.
• Express fell 5 per cent to $1.13 billion.

Supermarket earnings before interest and tax was up 0.8 per cent to $1.72 billion, liquor EBIT fell 1.2 per cent to $163 million, and express EBIT sunk 37.3 per cent to $42 million reflecting travel restrictions throughout the economy.

• Costs attributed to COVID-19 were $240 million up from $130 million
• Capex planned for financial 2023 will be $1.2 billion to $1.4 billion.

 

[Dona Ferentes]

New CEO, passing costs through, less impact from Covid . Trading higher

 

[Garpal Gumnut]

Quite a nice result from COL.

A useful divi and getting rid of Coles Express with provide cash which should be tax free given headwinds from supply chain and labour problems which are decreasing.

Liquorland needs a kick in the a**e. It can't be that difficult to make it more competitive.

I'm happy to continue holding

gg

 

[Garpal Gumnut]

Quite a nice result from COL.

A useful divi and getting rid of Coles Express with provide cash which should be tax free given headwinds from supply chain and labour problems which are decreasing.

Liquorland needs a kick in the a**e. It can't be that difficult to make it more competitive.

I'm happy to continue holding

gg

Since this post I exited COL.

The break lower today from the recent descending triangle on the chart seems to validate my decision.



gg

 

[Gringotts Bank]

Coles attempted to steal $115 million in wages from staff. Right up there with BHP's recent wage theft.

None of this is an accounting glitch. It's deliberate, it comes from the top, and it's being going on since Adam was a boy. It will go unpunished, because schemes such as these are plotted with an 'easy out' - computer error. The fact that computer error has never caused over-payment is noteworthy. I'm confident many big corporations would be into this sort of thing. It's just too easy to hide money and threaten any employee who questions it.

Watchdog accuses Coles of underpaying staff by $115m

The Fair Work Ombudsman has accused Coles of hugely underestimating its underpayments of staff and is taking it to court for another $108 million.

www.afr.com

 

[Gringotts Bank]

Wollies too. Unreal. $300 million earlier this year.

Those darned computer malfunctions! Accidental over-payments to the C-suite would be common, I assume. No way to trace it. Might be easier trying to figure out where trillions of USD assigned to defending Ukraine has gone.

 

[Dona Ferentes]

this is a big increase ... 280 ===> 400 mill

Construction cost blowouts at Cole’s delayed customer fulfilment centres projects are now expected to come in around an extra $120 million.

The Victoria and NSW projects, which Coles is developing with UK retail group Ocado, are now expected to cost a further $70 million and $50 million in project capital and operating expenditure, respectively.

“Additional works are required to rectify construction issues with the grid identified during quality control processes for the Victorian [project],” Coles said in a market update on Friday.

Total capital expenditure is now expected to be approximately $400 million.

... and delayed from mid 2024 by 12 months !

 

[divs4ever]

i hold COL , courtesy of the WES spin-off

hmmm i haven't calculated a target price for COL yet

but it looks like it will be below $15 , IF i throw real cash at it

 

[DrBourse]

Hi divs....
Don't panic M8 .... Just ran my slide rule over COL.....
Coles Financials have not changed much in the past 5 years - The only problem Coles have are the "Broker Guesstimates" - they are usually always wrong…

Since Late Sept 2019 to today ( thats 5 years), COL has traded between $15 to $19... cannot see that changing much anytime soon......

We just have to learn to trade the various calls made by our illustrious Brokers, after all, they are the ones who know "every individual business" better than the mob running them - brokers are a joke..... I sound a bit like Donald Thump when I say "Brokers are spreading Fake News".....

Ahhh well the Fake News keeps the Sheep in the game....
Cheers M8.

 

[eskys]

That's reassuring Dr. Bourse. I bought some this afternoon. Didn't get the lowest price, but good enough.

 

[divs4ever]

Hi divs....
Don't panic M8 .... Just ran my slide rule over COL.....

panic ? no

my holding is courtesy of the WES demerger , i added extra WES thinking they would divest Office-Works either as they did with COL or do a separate REIT ala BWP

i am a lot calmer when a holding has no investment cash at risk

 

[DrBourse]

That's reassuring Dr. Bourse. I bought some this afternoon. Didn't get the lowest price, but good enough.

Hi eskys.....
Not enough Indicator Signals for me to jump into COL atm....

Too many Indicators going sideways, or South... maybe in a few trading days time....
Cheers...

 

[eskys]

I don't have indicators, Dr.Bourse. Merely buying in because I sold this morning for a good price (bought yesterday) Having a punt today....doesn't look strong to my naked eye. Trading blind at the moment.

Bought some PXA too, amazing what I can get into some days...late start to the day always have me groping in the dark for the rest of the session.

 

[DrBourse]

eskys.....
The recent Red Candles on COL have formed an incomplete Benchmark Candle Formation (that is, it may grow as the SP drops any further)....
So now COL has several Resistance lines above it's SP, you may need to watch them for any signs that the Sheep baulk at them, may need to bail.....

NOTE the Double Bottom formation on the CCI Indicator, then look back to the last time that occurred, abt early June,
Cheers...

 

[eskys]

Could be wrong, but looks like they're looking for a way out....I'm outta there before i get a kick in the back...can start again tomorrow

 

[Dona Ferentes]

According to Coles’ latest annual report, it has a total of 437,969 shareholders, 341,881 of whom hold less than 1000 shares