Sydney, February 25, 2026, 18:16 AEDT — Market wrapped up for the day.
Coles Group Ltd (COL.AX) slipped 0.2% to finish at A$21.82 on Wednesday, bouncing between A$21.69 and A$22.09 through the session. With earnings in sight and a lingering legal issue, the stock edged lower as the week winds down. (Coles Group)
Coles is in a segment where even minor tweaks to prices or promos can quickly hit profits. Supermarket stocks, too, are now a stand-in for household financial health — and for just how far retailers will go on “value” to hang onto shoppers.
The schedule’s tight this week. In just days, the company will brief investors, while a court case runs parallel, both centering on the same question—defining a discount and the way it’s marketed.
Woolworths (WOW.AX) delivered first-half underlying net profit that topped forecasts and upgraded its outlook for full-year earnings, sending shares soaring over 11% in the latest session, according to Reuters. With Coles due to report Friday, “the market will get a much clearer picture of how the grocery wars are actually playing out,” said eToro market analyst Josh Gilbert. (Reuters)
Coles plans to release its interim results for the 2026 financial year on Friday, February 27. An analyst briefing webcast is set for 10:00 a.m. AEDT that day.
IG’s Tony Sycamore said Woolworths’ update has put “firm” pressure back on Coles to perform. Investors are zeroed in on whether Coles can show sales momentum and some margin gains—particularly from its cost and distribution moves. Sycamore highlighted the market is looking for about A$23.77 billion in sales and underlying NPAT (net profit after tax, minus one-offs) in a A$680 million to A$700 million range, with an interim dividend expected at roughly 37 Australian cents, “fully franked” with tax credits. (IG)
Legal pressure mounted Wednesday after the Australian Competition and Consumer Commission (ACCC) accused Coles of deceiving customers with certain “Down Down” promotions, alleging the supermarket bumped some prices up before advertising them as discounts. Justice Michael O’Bryan challenged aspects of the regulator’s logic, even asking whether the case “has to fail.” Coles’ lawyers maintained the discounts were legitimate. The trial is set to continue Thursday. (ABC News)
Traders are uneasy because pricing drives both narratives here. Coles’ commentary on promotions, supplier funding, and costs often carries as much weight as the headline figure itself.
The risk here stands out: deeper discounts to hold onto market share can eat into profits. If management sounds wary about what’s ahead, investors already nervous about “grocery wars” could react fast. Then there’s the court case, which brings headline risk, decision or not.
