Morningstar | Coles Follows Through on Wesfarmers' Promise and Abandons Its Gaming Operations
Coles Group is a food and liquor retailer. The Coles supermarkets segment accounts for most of the group's sales and earnings, and its position as the second-largest Australian grocery retailer comes with near-term competitive advantages due to its sheer size. Coles commands close to 30% of the grocery market and generates equivalent to 80% of the revenue of top dog Woolworths. This scale has enabled Coles to successfully compete, especially after Wesfarmers acquired the group in 2007 and injected AUD 9 billion to freshen-up stores, expand the network, and build an e-commerce platform. But in recent years, competition stepped-up markedly when Woolworths reacted to discounter Aldi's market share grab by dropping prices. Coles followed suit, structurally rebasing its profitability long term, but we don't believe the firm has carved an economic moat.COL Financial Group, Inc. (COL) is a Philippines-based company that provides online financial services. The Company is engaged in the business of broker of securities. It provides stock brokerage services through Internet technology. The Company operates through two segments: Philippines and Hong Kong. It is also engaged in providing financial advice, in the gathering and distribution of financial and investment information, and statistics and in acting as financial, commercial or business representative. It offers various products and services, which include full-service online stock brokerage, selection of mutual funds in a single platform, professional equity advisory services, research support, investor education seminars, market updates and information-driven briefings and customer support. COL provides professional equity advisory services through its agency and advisory groups (AAG) consisted of the private client group (PCG) and the independent financial advisors (IFA).
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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