reports
- Sid Rajeev
- Sid Rajeev
- Sid Rajeev
An unfavourable environment weighs on COLES GROUP, which sees a downgr...
The independent financial analyst theScreener just requalified the general evaluation of COLES GROUP (AU), active in the Broadline Retailers industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date January 4, 2022, the...
- Johannes Faul
Morningstar | Coles Introduces Ambitious Midterm Cost-Out Programme. A...
In large parts we agree with the frank outlook Coles’ management provided at the firm’s inaugural investor day on the challenges awaiting Australian grocery retailers in the near to medium term. Nevertheless, the market looked past those headwinds, welcoming the reiterated dividend payout policy and an ambitious cost-out target. We hadn’t expected a dividend cut and any efficiency gains are likely to be chewed up by cost inflation or passed on to consumers in the form of lower food prices....
- Johannes Faul
Coles Introduces Ambitious Midterm Cost-Out Programme. AUD 12.30 FVE U...
In large parts we agree with the frank outlook Coles’ management provided at the firm’s inaugural investor day on the challenges awaiting Australian grocery retailers in the near to medium term. Nevertheless, the market looked past those headwinds, welcoming the reiterated dividend payout policy and an ambitious cost-out target. We hadn’t expected a dividend cut and any efficiency gains are likely to be chewed up by cost inflation or passed on to consumers in the form of lower food prices....
- Johannes Faul
Morningstar | Economic Cooling Could Lead to Opportunities in Australi...
A much-mooted concern of investors in the Australian retail sector is the potential of a more pronounced decline in consumer spending on account of the weak housing market or perhaps even a wider-spread slowdown in economic activity--such as a recession. Australians have been dodging the bullet for a record-breaking 106 quarters but at some point, this lucky streak must come to an end. We avoid the futile exercise of predicting the timing of the next Australian recession and we aren't forecastin...
- Johannes Faul
Economic Cooling Could Lead to Opportunities in Australian Retail
A much-mooted concern of investors in the Australian retail sector is the potential of a more pronounced decline in consumer spending on account of the weak housing market or perhaps even a wider-spread slowdown in economic activity--such as a recession. Australians have been dodging the bullet for a record-breaking 106 quarters but at some point, this lucky streak must come to an end. We avoid the futile exercise of predicting the timing of the next Australian recession and we aren't forecastin...
- Johannes Faul
Morningstar | Coles' Toy Campaign Delivers Sales Growth but Doesn't Af...
In the third quarter, no-moat-rated Coles’ second promotional campaign of small plastic toys during fiscal 2019 had the desired effect at its supermarkets. We increase our fiscal 2019 headline food sales growth rate following better-than-expected sales, boosted by the Stikeez campaign, to 3.1% from 2.6%. However, the impact on our intrinsic assessment is immaterial, and we maintain our fair estimate at AUD 12.30. At current prices, the shares are screening as slightly overvalued. E-commerce r...
- Johannes Faul
Coles' Toy Campaign Delivers Sales Growth but Doesn't Affect Our AUD 1...
In the third quarter, no-moat-rated Coles’ second promotional campaign of small plastic toys during fiscal 2019 had the desired effect at its supermarkets. We increase our fiscal 2019 headline food sales growth rate following better-than-expected sales, boosted by the Stikeez campaign, to 3.1% from 2.6%. However, the impact on our intrinsic assessment is immaterial, and we maintain our fair estimate at AUD 12.30. At current prices, the shares are screening as slightly overvalued. E-commerce re...
- Johannes Faul
Morningstar | Coles Shares the Spoils of a Brave New Digital World wit...
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 ...
- Johannes Faul
Coles Shares the Spoils of a Brave New Digital World with Ocado. FVE U...
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 ...
- Johannes Faul
Coles Shares the Spoils of a Brave New Digital World with Ocado. FVE U...
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 ...
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