Coles posts healthy profits as measures against shoplifters pay off
Coles has reduced the amount of food lost to theft, but retailers in the country continue to face threatening situations as it struggles with theft and organized crime problems throughout the sector.
CEO Leah Weckert said that the company’s loss volumes fell to 2015 levels after offering theft prevention measures such as camera monitoring (“Skip Scan”), automatic security doors (“smart gates”) and “tram dip” technology in hundreds of stores.
Coles reduced theft at a time when other retailers struggled with an industry -wide crisis.Credit: Eamon Gallagher
Weckert said, “In this period, there was no Sunday because we improved the loss,” he said.
“Despite the investments we have made security attempts for our team, we continue to see increases in threatening situations in the store. And certainly the retail crime in Victoria increases more than we saw in other states.”
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Retailers are increasingly theft, saying that theft makes a hole in sales and risks the safety of the workers. Dan Murphy and BWS apply body -worn cameras and augmented technology to help staff training, while Rebel Sport’s margins decreased with permanent thefts.
Coles’s group sales increased by 3.6 percent to 44.35 billion dollars and the underlying net profit increased by 3.1 percent to approximately 1.2 billion dollars. The grocery store said Coles is less, but focused on deeper promotions and locked at a wide range of products throughout the year.
Weckert said that focus on quality, money value, usability and customer experience improves customer experience metrics and causes larger basket dimensions and number of transactions. The Australians also continued to buy more food online, Coles’ e-commerce sales increased by 24.4 percent to $ 4.5 billion.
Investors welcomed the result of the result and sent Coles’ stock price 8.1 percent higher. The rival Woolworths, which should be reported on Wednesday, won 2.4 percent and went on a journey.
