Coles Retail Sales Up 81% in July

Highlights

· Coles retail sales increased 81% in July to $344,000, up from $190,000 in June.

· This represents the highest monthly sales result in Coles since launch and exceeds the Company’s internal materiality threshold of 30%.

· The growth was driven by an expanded store footprint, strong sell through rates, and the success of targeted in store promotions.

· The completion of the initial Woolworths pipeline fill in June also contributed to the elevated retail revenue baseline in July.