Report
Johannes Faul
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Coles Shares the Spoils of a Brave New Digital World with Ocado. FVE Unchanged at AUD 12.30

The partnership with online grocery sales specialist and service provider Ocado provides no-moat-rated Coles access to state-of-the-art end-to-end online technology and increases the pressure on Woolworths. However, Coles gives up some of its future online channel earnings in return and we surmise it must also deliver on growth and market share targets to remain Ocado’s exclusive partner in Australia. We expect any material operating margin improvements to be passed on to consumers to compete wi...
Underlying
Coles Group Ltd.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Johannes Faul

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