Coles' Five-Year Plan: A Successful Transformation
A decade ago, Coles, the country's second-largest supermarket chain, was struggling. However, thanks to sound execution and mistakes from its rival Woolworths, it is now thriving.
The seeds of Coles' fightback were sown almost five years ago, during the pandemic, when the company started to transform. Initially, investors were not all on board, but now it is clear that the plan hatched by Steven Cain is working.
- Sales in the first quarter of the year rose at more than double the pace of Woolworths.
- Coles' market capitalisation is hovering near that of Woolworths for the first time since its return to the ASX.
No doubt that the plan is working
Author's summary: Coles is now thriving thanks to its successful transformation plan.
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