Everyday low prices in spotlight

coles, supermarket, down downThe effect of Coles’ recently adopted “everyday low prices” strategy will be on display when the supermarket giant’s parent company releases its quarterly results.

Coles announced in November it would permanently cut prices on a range of grocery staples, rather than relying on short term promotions, in an effort to draw in customers.

Investors will be looking closely at parent company Wesfarmers’ third quarter results on Wednesday for an indication of whether the strategy change has helped or hurt sales.

Coles has easily beaten rival Woolworths in recent times, with its comparable sales growing 4.2 per cent during the first half, compared to just 1.7 per cent for Woolworths.

Wesfarmers owns a string of major retailers, including Bunnings, Target, and Officeworks.

AAP

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