Coles Shares Fall 12% After Sales Disappoint, Fuel Costs Threaten Profits
Coles said supermarket same-store sales rose 2.7% in the 13 weeks through Sept. 27 and warned that rising fuel costs would hurt profits. Its shares fell 12%, putting them on course for their lowest close in five months.
By David WinningSYDNEY--Coles Group's share price falls 12% to be on course for its lowest close in five months after recent sales disappointed and it warned that rising fuel costs would hurt its profits.Coles said same-store sales at its supermarkets rose by 2.7% in the 13 weeks through Sept. 27 c…