47-723: Coles Group Limited is an Australian public company operating several retail chains. Its chief operations are primarily concerned with the sale of food and groceries through its flagship supermarket chain Coles Supermarkets , and the sale of liquor through its Coles Liquor outlets. Since its foundation in Collingwood , Victoria in 1914, Coles has grown to become the second-largest retailer in Australia after its principal rival, Woolworths , in terms of revenue. Formerly known as Coles Myer Ltd. from 1986 to 2006, Coles Group
94-517: A Senate Inquiry, Greens Senator Nick McKim , the chair of the committee, highlighted that the actions of Coles and Woolworths resulted in serious harm to the people of Australia, off the profiteering these supermarket chains have done manipulating food prices. One of the key recommendations that was made in this enquiry is to ensure that price gouging will be made illegal. A 2014 Federal Court of Australia case ruled that Coles "threatened harm to suppliers if they didn't meet their demands," and ordered
141-416: A general knowledge quiz show, Coles £3000 Question (later Coles $ 6000 Question and Coles $ 7000 Question ) which aired on Channel 7 . In 2010, Coles launched a new sub-slogan, "Down Down, Prices Are Down", featuring a large red cartoon hand pointing downwards to symbolise the chain's low price policy. The slogan incorporated the tune of " Down Down ", a 1975 hit by British rockers Status Quo . In 2011,
188-474: A guarantee that the deal would go ahead. A second proposal of $ 15.25 per share in October 2006 was rejected for largely the same reasons. In November 2006, long-term senior supermarkets executive Peter Scott was dismissed for an unspecified breach of the company's code of conduct. On 23 February 2007, the company announced a downgrade of expected earnings and that it was considering ownership options, including
235-507: A public company on the Australian Securities Exchange under the trading code COL, debuting at A$ 12.49. At the time of listing, the company included 806 Coles Supermarkets , 712 Coles Express outlets, 894 liquor stores including Liquorland , Vintage Cellars and First Choice Liquor , Coles-branded financial services and 88 Spirit Hotels, as well as joint-ownership of the flybuys loyalty program. Subsidiaries of
282-531: A recognised brand for its fuel offer. In 2002, Coles Myer sold Red Rooster to Western Australian company Australian Fast Foods . On 17 August 2005, Coles Myer announced that within 12 months, it would decide to demerge, divest or retain Myer. Thirteen expressions of interest were made for all or part of Myer. On 13 March 2006, Coles Myer announced it would sell Myer to a consortium controlled by US private equity group Newbridge Capital . The consortium also included
329-534: Is an Australian supermarket, retail and consumer services chain, headquartered in Melbourne as part of Coles Group . Founded in 1914 in the suburb of Collingwood by Sir George Coles , Coles currently operates 846 supermarkets throughout Australia, including several now re-branded Bi-Lo stores. Coles has over 120,000 employees and accounts for around 27 per cent of the Australian market. Coles Online
376-513: Is owned and operated in partnership with broadcaster Nova Entertainment and adopts a hot adult contemporary format, featuring a playlist consisting of pop hits from the 80s, 90s, 00s and current hits. The station has one announcer, Meg Alexander, throughout the workday from 9am-4pm. The station is also available outside stores via Coles' website, the Nova Player app and on DAB+ digital radio, making it accessible in many newer car models. On
423-481: Is the company's online shopping ('click & collect' and home delivery) service. Between 1986 and 2006, Coles Supermarkets was a brand of Coles Myer, later Coles Group , prior to Wesfarmers purchasing Coles Group in 2007. It became a subsidiary of Coles Group again after Wesfarmers spun-off the business in November 2018. In 2020, Coles changed its slogan to "Value the Australian way". George Coles learned
470-667: The Australian Securities Exchange . In August 1985, the Myer Emporium Ltd and GJ Coles & Coy Ltd merged, becoming the largest ever Australian Corporation. The official name change to "Coles Myer Limited" followed in January 1986. The U.S. Kmart Corporation continued to hold shareholding in the merged company until Kmart sold its 21.5% stake in November 1994. A new head office opened in 1987 at Hawthorn East , Melbourne . As of 2022, it remained
517-731: The NYSE (de-listed 6 January 2006), the New Zealand Stock Exchange (de-listed 1989) and the London Stock Exchange . In April 2006, Coles Myer acquired Pharmacy Direct for $ 48 million, controversially using Pharmacy Direct's corporate license to skirt laws restricting ownership of pharmacies to qualified pharmacists. The Pharmacy Guild of Australia brought a case against Coles to the New South Wales Supreme Court . In September 2008,
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#1732791092613564-484: The ACCC was investigating both Coles and Woolworths over accusations that they used improper market practices to force down prices from suppliers. These accusations further intensified on a February 2024 episode of news program Four Corners , which exposed accusations of price gouging between both Coles and Woolworths Supermarkets , which form an alleged duopoly colloquially known as Colesworth. Coles and Woolworths,
611-468: The Court ordered Coles to sell the business, which it did in early 2009. In August 2006, Coles announced that a group of private equity companies led by Kohlberg Kravis Roberts & Co. (KKR) was looking to buy the company, with an initial proposal of $ 14.50 per share. The Coles board rejected the offer stating it significantly undervalued the company, and was conditional on a due diligence process, without
658-568: The DAB+ platform, it is often the number one station nationally. Coles has been accused by suppliers of using heavy-handed tactics when dealing with its suppliers. A 2004 investigation by the Australian Competition & Consumer Commission did not result in any action being brought against Coles and Woolworths . A 2012 investigation in which suppliers were offered anonymity is believed to have uncovered unethical practices. In 2013,
705-418: The Myer family, who held a 5% stake. The sale was completed for A$ 1.4 bn on 2 June 2006. Coles Myer changed its name to "Coles Group Limited" in November 2006. Coles Group Limited also changed its listed code on the Australian Securities Exchange from CML to CGJ, which references back to its first ever registered company name of G.J. Coles & Coy Proprietary Limited. The company has in the past been listed on
752-902: The US. The first store opened in the Melbourne suburb of Burwood in 1969. In 1978, Kresge (Kmart) exchanged its 51% stake in Kmart Australia for a 20% stake in G.J. Coles & Coy Coles, allowing Coles to fully acquire Kmart Australia. By the 1980s, Coles primarily operated supermarkets, whilst Myer operated the department store chains Myer and Grace Bros , as well as the Target discount variety store chain in Australia, and fast food restaurant chain Red Rooster (which it acquired in 1981). Both Coles and Myer grew throughout Australia through growth and acquisitions, and both independently listed on
799-412: The campaign was revised to the fit the tune of Petula Clark's 1964 hit " Downtown ". but reverted to "Down Down" later in the year. In 2012, it used Status Quo, which originally recorded the song in 1975, singing and speaking in the newest ad in the series. In February 2016, Coles updated the "Down Down" campaign again, to the tune of That's Amore ("it's a Down Down"). In May 2017 the "Down Down" campaign
846-529: The chain to pay $ 10 million in penalties. In 2015, the Federal Court of Australia fined Coles $ 2.5 million for making misleading claims in relation to the sale of its par-baked bread products. In September 2024, the Australian Competition and Consumer Commission brought legal action against Coles, accusing the supermarket of misleading customers on discounts through their Down Down promotions. Coles has several generic or private label brands : In
893-406: The company appointed John Fletcher , formerly of Brambles , as chief executive. Fletcher engineered a brief turnaround in the company's fortunes. Fletcher abolished the shareholder discount card, on the basis that it had eroded margins while providing little benefit, and was unpopular with institutional investors. Since their introduction in the early 1990s, the card had induced a tenfold increase in
940-586: The company. From mid 2006, many Bi-Lo supermarkets were badged as Coles Supermarkets. Newmart supermarkets, under which Bi-Lo traded in Western Australia , were badged as Coles Supermarkets in 2002–2003. Newmart stores co-located with Coles in the same area or shopping centre were sold to Foodland and re branded as the now-defunct Action Supermarkets chain. The conversion program was put on hold at Easter 2007. In July 2007, Wesfarmers agreed terms to purchase Coles Group for $ 22 billion. The purchase
987-830: The deal. In May 2020, Coles completed the acquisition of Jewel Fine Foods, one of its suppliers of ready-to-eat meals, after the company went into administration in April 2019. In September 2022, Coles announced that it would sell its Coles Express stations to Viva Energy for $ 300 million. The deal was completed in May 2023. In April 2023, Coles announced its intention to purchase two milk processing plants from Saputo Inc. for $ 105 million. In February 2024, Coles Liquor reached an agreement to acquire 20 9/11 liquor stores in Tasmania from Federal Group . Coles Supermarkets Coles Supermarkets Australia Pty Ltd , doing business as Coles ,
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#17327910926131034-508: The exit of Coles Group from its head office base at Tooronga. The independent expert report published in October 2007, advising shareholders preparatory to the proposed sale was critical of the culture within Coles Group. At a shareholder meeting in Melbourne on 7 November 2007, shareholders voted overwhelmingly with 99.25% approval of the sale of Coles Group to Wesfarmers. The Scheme of Arrangement between Coles Group and its shareholders
1081-536: The first Megamart store, in Coorparoo , Queensland . Harris Technology, a computer hardware and software reseller started by Ron Harris in 1986, was acquired in 1999. By 2001, Coles Myer planned to expand the Megamart chain of furniture and electrical stores, but by 2005 had decided to divest the struggling chain. Six of the nine stores were sold to competitor Harvey Norman , with the remainder closed. In 2001,
1128-520: The first store opening in the Melbourne suburb of Richmond in June 1994. This represented a successful introduction of a " category killer " – by comparison, around the same time Coles unsuccessfully attempted to negate the arrival of Toys "R" Us with the short-lived chain World 4 Kids. In 1996, the operations of Target and Fosseys (earlier "Coles-Fossey") merged and the first Baby Target speciality store
1175-532: The head office for Coles Group and associated subsidiaries. Bi-Lo was acquired by Coles Myer in 1987. It was a major supermarket chain and continued to be owned and operated by Coles Myer in parallel to Coles Supermarkets. Bi-Lo was rebranded to Coles from 2007, the last store rebranded in 2017. The office stationery chain Officeworks , based on the US chain Office Depot , was established in 1993 with
1222-402: The largest take-over bid in Australia. The sale was expected to be completed in October 2007. In August 2007, Wesfarmers foreshadowed its plans for the restructuring of Coles Group following its anticipated takeover, including investment of A$ 5 billion, establishing three separate divisions (including a combined Bunnings /Officeworks "big box" retailing division), the possible sale of Kmart, and
1269-486: The mid-1970s by the "famous five knights", brothers Sir George, Sir Arthur , Sir Edgar, Sir Kenneth and Sir Norman – known by their first initials – GJ, AW, EB, KF, NC. In 1960, the first supermarket was opened in the Melbourne suburb of Balwyn North and in 1973, a Coles store had been established in all capital cities of the country. Kmart Australia Limited was born out of a joint venture between G.J. Coles & Coy (Coles) and S.S. Kresge (later Kmart Corporation ) in
1316-420: The next few years: "Something better every day", "Proudly Australian since 1914" (introduced with its TV sponsorship of the 2008 Summer Olympics ), "Cutting the cost of your shopping", "Quality food costs less at Coles" and "It all counts". The slogan "Good things are happening at Coles" was rolled out in 2018, and its current slogan "Value the Australian way" was employed in 2020. In the 1960s, Coles sponsored
1363-428: The number of Coles Myer's shareholders, with the overwhelming majority owning only small parcels of shares. Fletcher also engineered the acquisition of the retail fuel operations of Shell Australia with the fuel outlets rebranded as Coles Express , allowing Coles Group to counter the success of Woolworths' discount petrol operation. Woolworths subsequently gained entry to part of Caltex Australia's network to provide
1410-501: The possibility of a full sale of the business or restructuring such as a demerger . On 20 March 2007, it deferred its plans to rebrand Kmart under the Coles banner and create supercentres, and subsequently paused its conversion of Bi-Lo stores to Coles Supermarkets given the lack of success of this move. On 23 March, Coles Group stated it planned to sell its businesses as either an entire package, or in three parts (Officeworks, Target and
1457-410: The previous Coles Group such as Kmart, Target and Officeworks remain as subsidiaries of Wesfarmers. In March 2019, Coles and Australian Venue Co. established a joint venture (Queensland Venue Co) where AVC would take over operations of the Coles' Spirit Hotels and receive its profits while Coles would run the group's liquor stores and receive its profits. Coles received $ 200 million from AVC as part of
Coles Group - Misplaced Pages Continue
1504-677: The range. In 2018 Wesfarmers announced its intention to demerge the Coles business, seeking to retain only a 20% interest going forward. In 2018, Steven Cain was appointed as CEO of the Coles Supermarket brand as part of the demerger of Coles from Wesfarmers. Coles deployed its first electric truck in April 2022. The first fully electric delivery vans followed in August 2023. In April 2023, Coles opened its first Witron-powered automated distribution centre in Redbank, Queensland . In
1551-448: The remaining businesses Kmart, Coles, Bi-Lo, Liquorland, Vintage Cellars and First Choice Liquor). On 3 April, Solomon Lew , the former chairman and long-time antagonist of the current board and management team, sold his 5.8% shareholding of the company. A large portion of these shares were bought by Wesfarmers , which was believed to be part of a consortium of bidders including Macquarie Bank , PEP and Permira . The share price at which
1598-503: The retail trade working for his father's 'Coles Store' business from 1910 to 1913. (The store continued operating as "The Original Coles" at Wilmot, Tasmania until it was destroyed by a fire on 24 January 2014. ) Coles itself was founded when George Coles opened the Coles Variety Store on 9 April 1914 on Smith Street in the Melbourne suburb of Collingwood . Further expansion occurred and Coles' interest in food retailing
1645-665: The second half of 2024, two highly-automated 87,000 m (940,000 sq ft) customer fulfilment centres powered by Ocado technology were opened in Truganina, Victoria and Wetherill Park, New South Wales . A second Witron distribution centre was opened in Kemps Creek, New South Wales in August 2024, and construction of a third in Truganina was announced in October 2024. In the same month, Coles deployed their fully electric prime mover truck. Coles' original slogan
1692-623: The stores were rebranded Coles Supermarkets and from 1998, simply as Coles . In 2004, the liquor division office (Coles Liquor Group), was moved from Chullora in Sydney to the company head office in Hawthorn East , Melbourne. With Coles Myer CEO John Fletcher citing the move for better efficiency between the food and liquor departments. It also resulted in Craig Watkins (35-year veteran and director of Coles Liquor) retiring from
1739-459: The transaction took place was reportedly $ 16.47, then 2.2% above the market price. A bid for the entire company at this price would have valued Coles Group at A$ 19.7 billion, well above the two KKR proposals announced in 2006. In May 2007, Coles reported its slowest sales growth in at least seven years with continuing poor performance from Coles Supermarkets and Kmart. In July 2007, Wesfarmers announced it intended to buy Coles Group for $ 22 billion,
1786-417: The two largest supermarket chains in Australia responsible for controlling over 2/3 of the market share, have recently come under fire on accusations of price gouging . They have also been accused of allegedly forcing suppliers to increase their supplies in order to buy goods at lower prices, during a time which the economy is at the brink of entering a recession and people are facing a cost of living crisis. In
1833-417: Was "nothing over 2/6", when it was primarily operating variety stores. The slogan "You'll find the best value is at Coles New World" was used in the 1980s. The red/orange orb was used from 1991 to 2005, although store signs continued to use the orb up until the early 2010s. "Serving you better" was used as a slogan from 1998 to 2003, replaced by "save everyday", endorsed by actress Lisa McCune . A circled tick
1880-487: Was again refreshed with Australian Idol and reality TV contestant Casey Donovan with a new disco version of the advertisement. This was ultimately dropped in March 2018, with Coles commercials (mostly on its in-store radio known as Coles Radio) using Best of My Love by The Emotions, a hit disco song from 1977, instead. Coles Radio is the brand name for the in-store radio station heard across all Coles' supermarkets. It
1927-485: Was approved by the Supreme Court of Victoria on 9 November 2007, the last day Coles Group shares traded on the Australian Securities Exchange . The Scheme was implemented on 23 November 2007, ending Coles Group as a company with its subsidiaries merged into Wesfarmers' business structure. In November 2018, Coles Group Limited was spun-off from Wesfarmers on 21 November 2018, with the company once again listed as
Coles Group - Misplaced Pages Continue
1974-482: Was called the "Coles Variety Store" in Smith Street in the Melbourne suburb of Collingwood . More stores opened and the chain was regarded as the leaders in providing value to Australian shoppers. The building formerly occupied by the original Coles Variety Store is now the location of a Woolworths outlet – the major competitor to Coles. Coles was run in succession by members of the Coles family from 1914 until
2021-623: Was completed in early 2008. In August 2007, as Wesfarmers foreshadowed its plans for the restructuring of Coles Group following its anticipated takeover, it stated that one of three planned divisions would comprise supermarkets, liquor and convenience stores. From 2008 to 2014, Coles was run by UK retailer Ian McLeod . In February 2011, Coles acquired National Australia Bank 's 50 per cent interest in Australia's largest loyalty program Flybuys , giving it 100% ownership. In September 2011, Coles commenced stocking private-label clothing in its stores with several stores receiving refits to accommodate
2068-456: Was opened, followed in 1998 by Target Home. In 1999, regional Fosseys stores were re-badged as Target Country, with metropolitan stores closed. Following Target's operating loss of $ 43m in 2001, the chain's format was repositioned to compete less with Kmart , Woolworths's Big W , Harris Scarfe and The Warehouse , and more with Myer, with a focus on "middle class" quality products, especially clothing and home wares. In 1998, Coles Myer opened
2115-437: Was owned by Wesfarmers from 2007 until 2018, when it was spun-off , with it once again listed as an independent public company on the Australian Securities Exchange , containing Coles Supermarkets, Coles Online , Coles Express , Coles' liquor division , Coles' financial division, and Flybuys . In 1914, the first Coles "variety store" was opened in Melbourne . Coles was founded in 1914 by George Coles when he opened what
2162-848: Was spurred in 1958 when it acquired 54 John Connell Dickins grocery stores. It then acquired the Beilby's chain in South Australia in 1959 and 265 Matthews Thompson grocery stores in New South Wales in 1960. In 1960, the first supermarket (trading under the Dickins name) was opened in the Melbourne suburb of Balwyn North , at the corner of Burke and Doncaster Roads where a modernised version continues to operate. By 1973, Coles had established stores in all Australian capital cities. From 1962, its supermarkets were branded Coles New World with accompanying Space Age-themed imagery. In 1991,
2209-440: Was used as a logo device from 2003 to 2007, replacing the orb as a primary device in 2005. "Save everyday" was later changed to the grammatically-correct "save every day". In 2007, the slogan and circle tick were discontinued with simply the Coles name used in preparation for a new red ball logo to match proposed Coles Group livery, which was shelved later in the year as the business was sold. A number of tag lines were employed in
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