Coles Group (ASX:COL) Shares Hold Near Flat Over the Year as FY26 Supermarket Earnings Grow and eCommerce Scales

Sonal Goyal

07 October 2026 01:08 AM AEDT

Coles Group (ASX:COL) Shares Hold Near Flat Over the Year as FY26 Supermarket Earnings Grow and eCommerce Scales

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Coles Group Ltd (ASX:COL), one of Australia’s two largest supermarket operators, has recorded a small share price decline over the past year. Coles Group Ltd (ASX:COL) shares were priced at $22.88, down 0.52% in today’s session, and are down 1.68% over the past year. The company released its full-year results for the 52 weeks to 28 June 2026 (FY26) on 25 August 2026.

Business Model and Operational Footprint

Coles operates the Coles Supermarkets chain and a Liquor Business including Liquorland and co-located liquor stores, earning Revenue from grocery and liquor sales across stores and digital channels. It runs a Flybuys loyalty program with 10.3 million active members and sells Exclusive to Coles products, which grew 6.1% in sales. Supermarkets eCommerce sales rose 26.4% to $5.6 billion, equal to 13.6% of supermarket sales, supported by Customer Fulfilment Centres (CFCs) and a Partnership with Uber Eats.

The company is headquartered in Hawthorn East, Victoria. It reported that its CFCs were EBITDA positive in their second year of operation and that it opened 16 new co-located liquor stores. It is also investing in an accelerated store opening and renewal program and in automation, data and technology.

Sector Dynamics

Grocery retail Earnings depend on consumer spending, price competition, Supply chain costs and regulation. Coles describes a challenging operating environment of continued cost-of-living pressures, geopolitical uncertainty and greater regulatory complexity. It cites Market Share gains in Supermarkets, based on Circana shopper panel data to 12 July 2026.

Coles’ 1.68% one-year decline compares with a 22.66% fall for Brambles Ltd (ASX:BXB) and a 3.06% fall for Amcor Plc (ASX:AMC). Within this group of results Coles is one of the ASX-listed names with a small decline over twelve months. Coles is down 0.52% today at $22.88.

Among the 20 ASX-listed companies in this group of results, Coles Group Ltd’s one-year change of down 1.68% ranks 6 of 20, where 1 is the strongest performer over the period.

FY26 Results Release

Group sales revenue rose 2.8% to $45,580 million. Group EBIT excluding significant items rose 9.9% to $2,322 million, and net profit after tax excluding significant items rose 13.7% to $1,255 million. Significant items of $235 million ($165 million after tax) were recorded after a Federal Court judgment in September 2025 in the Fair Work Ombudsman’s proceedings. Reported net profit after tax was $1,090 million, up 1.0%.

Supermarkets EBIT rose 12.2% to $2,365 million, with a Margin expansion of 43 basis points, and Supermarkets EBITDA rose 8.2% to $4,099 million. Liquor sales revenue fell 3.3% to $3,547 million, EBITDA fell 19.1% to $199 million and EBIT fell 47.8% to $59 million. Savings of $311 million were delivered under the Simplify and Save to Invest program.

Total dividends were 78 cents per share, fully franked, up 5.1%, including a fully franked final Dividend of 37 cents per share with a Record Date of 4 September 2026. The CEO said Coles enters FY27 with good momentum and a Balance Sheet it describes as sound, and that it is pursuing a clear strategy to improve the performance of Liquor.

Supermarkets gained market share according to Circana shopper panel data, customer satisfaction improved, and the company increased its use of robotics in CFCs, including grid robotic pick arms and auto bagging. Flybuys active members rose to 10.3 million, and the company expanded its partnership with Uber Eats to provide the largest digital selection of groceries on an on-demand platform in Australia.

Growth Catalysts and Critical Operating Risks

Growth catalysts identified include market share gains in Supermarkets, eCommerce growth and CFC profitability, the Uber Eats partnership, Exclusive to Coles products, automation and an accelerated store opening and renewal program.

Operating risks include the Fair Work Ombudsman proceedings, which produced $235 million of significant items, a decline in Liquor earnings, cost-of-living pressures, regulatory complexity and competition. Reported net profit after tax rose 1.0% compared with 13.7% excluding significant items. Higher Capital Investment in stores, automation and technology will draw on cash flow, and the release does not provide numeric FY27 guidance.

Where Things Stand

Coles reports higher supermarket earnings, eCommerce growth and a 78 cents full-year dividend, while Liquor earnings declined and the shares are slightly lower over twelve months. Reference points ahead include the 4 September 2026 record date and the Liquor performance plan.

FAQs

Q: What did Coles Group Ltd (ASX:COL) report for FY26?

A:Group sales revenue of $45,580 million (up 2.8%), EBIT excluding significant items of $2,322 million (up 9.9%), net profit after tax of $1,090 million and total dividends of 78 cents per share.

Q: What was the significant item in Coles’ FY26 results?

A:Significant items of $235 million ($165 million after tax) related to a Federal Court judgment received in September 2025 in the Fair Work Ombudsman’s proceedings.

Q: How have Coles Group (ASX:COL) shares performed over the past year?

A:Shares are down 1.68% over twelve months and were down 0.52% today at $22.88.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.