Coles Group (ASX:COL) shares closed 7.7% lower at A$21.66 on Friday 30 October 2026, the worst performance in the ASX 200, according to ASX data. The supermarket giant’s first-quarter sales growth slowed, and it warned that first-half supermarket earnings would be flat. The shares were down as much as 12.5% during the day.
What Coles reported
According to Coles’ first-quarter sales results for the 13 weeks to 27 September:
| Metric | 1Q FY27 | 1Q FY26 |
|---|---|---|
| Group sales revenue | A$11.21B | A$10.96B |
| Supermarkets sales revenue | A$10.32B | A$9.97B |
| Supermarkets comparable sales growth | 2.7% | 4.6% |
| Supermarkets eCommerce sales | A$1.62B (up 22.9%) | A$1.32B |
| Liquor sales revenue | A$831M | A$842M |
Online sales were a bright spot, with eCommerce now making up 15.7% of supermarket sales, up from 13.3%. Supermarket price inflation was 1.1%, down from 1.6% a year earlier. Other revenue fell 62.8% to A$58 million as Coles’ product supply agreement with Viva Energy winds down before it expires in November 2026.
The profit warning
The bigger worry was the outlook. Coles expects first-half supermarkets EBIT, excluding significant items, to be in line with last year because of higher fuel-related costs. Sales growth in the first four weeks of the December quarter has also moderated.
CEO Leah Weckert said, “we know household budgets are under pressure.”
RBC Capital Markets analyst Michael Toner called it a “disappointing update,” according to ABC News.
Woolworths is pulling ahead
Rival Woolworths reported much stronger growth earlier this week. According to its first-quarter sales results, comparable sales at Woolworths Food Retail rose 6.1%, more than double Coles’ 2.7%. Woolworths’ quarter covered 14 weeks to 4 October and included its Ooshies collectables promotion.
That gap raises a question for investors: is Coles losing market share?
The insider angle
According to CEO Leah Weckert’s latest director’s interest notice, she holds 695,749 shares directly and 42,864 incentive shares indirectly, plus 371,827 performance rights.
Friday’s A$1.80 fall cut the value of her 738,613 shares by about A$1.3 million, to about A$16 million.
Market Index records show no on-market share purchases by Coles directors over the past year. Any buying after this fall would be a signal worth watching. Our Nick Scali report shows how other retailers are feeling the same pressure on households.
What Coles investors should watch
- Christmas trading, which Coles hopes will “deliver improving sales momentum”
- The half-year result in February and whether EBIT is flat as flagged
- Director trades in Appendix 3Y notices after the fall
- Woolworths’ sales for signs of further market share shifts
Bottom line
Coles is still growing, but more slowly than Woolworths, and rising costs mean supermarket profit has stalled. That was enough to make it the ASX 200’s worst performer on Friday. For more on Coles, see our earlier report on its Greencross deal.
