Coles Group Ltd

COL: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$89.40	Lgwh	Hckftkw

Coles: Shoppers Are Migrating Online and Seeking Cheaper Options

Johannes Faul

Oct 26, 2023

We maintain our fair value estimate of AUD 14.50 per share on no-moat Coles. With the revenue tailwind of food price inflation abating, the task of driving top-line sales growth in the Australian supermarket industry is now more reliant on food sales volumes.

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