Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Coles (ASX:COL) Share Price Rises On New Large Deal

The Coles (ASX: COL) share price is rising after the supermarket business announced a large new deal.

After 10 years being owned by Wesfarmers, Coles Group was split from the broader Wesfarmers conglomerate (which owns Bunnings Warehouse) in November 2018. However, the Coles name has operated in Australia for 100 years. Today Coles is one of the largest retailers in the country, serving 21 million customers per week across its supermarkets, Coles Express, Online, Vintage Choice and others.

Coles’ New International Deal

The Australian supermarket company announced that it has entered into a strategic partnership with UK supermarket business Sainsbury’s (J Sainsbury plc (LON: SBRY)).

Coles will utilise Sainsbury’s supply chain and will receive products to expand Coles’ Own Brand range.

Own Brand already represents 30% of sales at Coles Supermarkets. The first products sourced from this partnership will be added to Coles’ range in the second half of the financial year.

Coles Commercial and Express boss Greg Davis said: “We want to accelerate the introduction of innovative products to Coles Own Brand, and this partnership allows us to do that with a range of food and groceries that are already proven in the international market but not yet available in Australia.”

This is one of several ideas that Coles has made in recent times to improve its offering and try to win market share from Woolworths (ASX: WOW).

For example, Coles recently announced that it was launching a subscription service for food home delivery, it has made an agreement with Ocado so that the Australian supermarket company can gain access to Ocado’s Smart Platform technology and it also signed another deal with technology business Accenture, which has a global strategic relationship with Microsoft and will leverage this relationship to help Coles’ operations become simpler and more efficient.

Coles said it would also work with its suppliers to explore opportunities to sell their products to Sansbury’s through the partnership.

[ls_content_block id=”14945″ para=”paragraphs”]

[ls_content_block id=”18380″ para=”paragraphs”]

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content