Coles results show steady progress

Coles has released its 2018 full year results with sales up 0.7% to AU$39,009m, but EBIT down 6.8% to AU$1,500m. Food and liquor sales up 2.1% to AU$33,285m Despite price deflation of 1.2% for the year, like-for-like (LFL) food and liquor sales grew 1.1%. Management will be pleased with the…