Coles reveals new store format, wants Sunday trading hours flexibility
Wesfarmers Ltd (ASX: WES) subsidiary Coles Supermarket said on Thursday that it is set to open some 100 new format stores within the current financial year, with about 60 new format supermarkets already operating in the whole of Australia, which the company said was integral to the fiver-year recovery blueprint for Coles.
Coles managing director Ian McLeod said that the company has allocated more than $30 million for renovations of its stores located in Western Australia, with four major outlets being eyed for re-configuration works set to be completed before the Christmas season.
Also, Mr McLeod credited the company's promotional collaboration with the hugely popular program MasterChef, claiming that the successful partnership further boosted the supermarket chain's credibility as he stressed that "it's a broad level of endorsement in the progress that we're making."
On the other hand, Coles said that Western Australia's existing retail trading hours was wholly unusual as it allowed some retailers to operate on Sundays while others were being prohibited from doing so.
Mr McLeod described the trading regime as a 'complete farce' that only offered undue advantage to Coles' nearest competitor in the state, the IGA supermarket chain.
The company urged the state government to take a second look on the existing regulation, which it said was in contradiction with customers' present needs and demand, citing that up to 80 percent of Perth residents were inclined to see a more malleable trading rules during Sundays.
Besides, Mr McLeod argued that trading hours currently being enforced in WA were effectively "a decade behind the rest of Australia."