Coles posts $511m half-year profit
Coles Group has reported a $511 million half-year profit, down 11.3 per cent, as it faces a Federal Court battle over alleged misleading “Down Down” discounts. Amid scrutiny from the consumer watchdog, the supermarket says artificial intelligence will play a central role in reshaping its sales strategy, with executives outlining plans to use AI to better target promotions and rebuild customer trust.
Officeworks Revenue Up 4.7pc, Earnings Slide Amid Major Cost Reset
Officeworks lifted first-half revenue 4.7 per cent to $1.84 billion but posted a 21.8 per cent drop in earnings as transformation costs weighed on profit. The retailer is pushing ahead with a major cost-reset program, expanding own-brand ranges, sharpening its in-store and online offer, and investing further in lower prices as it targets long-term growth, stronger omnichannel performance and a rebound in earnings from FY27.