Ruqayyah Snyder
Coles Myer, formerly known as G.J. Coles & Coy. Ltd., was an Australian company that operated several retail chains. It was founded in 1914 and grew to become Australia's largest retailer, with over 1,650 stores and a strong presence in the Australian and New Zealand retail markets. Coles Myer's operations included supermarkets, discount department stores, department stores, clothing stores, liquor stores, fast-food outlets, and more. In 2006, Coles Myer sold its Myer department store business to a consortium including US private equity group Newbridge Capital and the Myer family, marking a shift in the company's structure and focus. Today, Coles Group Limited continues to be a significant player in the Australian retail market, with a diverse range of brands and services catering to the needs of Australian consumers.
| Characteristics | Values |
|---|---|
| Number of stores | 1,650-1,800+ |
| Selling area | Largest in Australia |
| Retail market | Australian and New Zealand |
| Sectors | Supermarkets, discount department stores, department stores, clothing stores, liquor stores, take-away food outlets, and automotive service centers |
| Share of Australian retail sales | 16% |
| Employees | 115,000+ |
| Real estate assets | A$1.43 billion in 1991 |
| Former names | Coles Myer Ltd., G.J. Coles & Coy. Ltd. |
| Former subsidiaries | Myer, Bi-Lo, Red Rooster, Kmart, Target, Fosseys, Grace Bros., Katies, World 4 Kids, Liquorland, Vintage Cellars, Officeworks |
| Former shareholders | U.S. Kmart Corporation, Myer family |
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What You'll Learn
Coles Group is an Australian public company
Coles Group Limited, formerly known as Coles Myer Ltd., is an Australian public company that operates several retail chains. It was founded in Collingwood, Victoria, in 1914 and has since grown to become the second-largest retailer in Australia in terms of revenue, only trailing Woolworths Limited.
Coles Group's 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. The company owns and operates over 2,900 stores across Australia and New Zealand, including supermarkets, discount department stores, department stores, clothing stores, liquor stores, fast-food outlets, and office supplies superstores.
Coles Myer Ltd. was formed in 1985 through the merger of Myer Emporium Ltd. and GJ Coles & Coy Ltd., becoming the largest Australian corporation at the time. In 2006, Coles Myer sold the Myer department store business and changed its name to Coles Group Limited. The company has been listed on various stock exchanges, including the Australian Securities Exchange, the New York Stock Exchange, the New Zealand Stock Exchange, and the London Stock Exchange.
Coles Group Limited was owned by Wesfarmers from 2007 to 2018, when it was spun off and once again listed as an independent public company on the Australian Securities Exchange. The company has a strong presence in the Australian market and has expanded its operations to New Zealand, offering a wide range of products and services to its customers.
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Coles Myer was Australia's largest retailer
Coles Myer, formerly known as G.J. Coles & Coy. Ltd., was Australia's largest retailer in terms of the number of stores and selling area. The company owned and operated over 1,650 stores in most sectors of the Australian and New Zealand retail markets, including supermarkets, discount department stores, department stores, clothing stores, liquor stores, fast-food outlets, and automotive service centers.
The origins of Coles Myer can be traced back to the first G.J. Coles & Coy. Ltd. discount store, which opened in Collingwood, Victoria, on April 9, 1914. The company was founded by George James Coles and sold a variety of items priced at 3d., 6d., and 1/-. Over the years, Coles Myer continued to grow and expand its interests, including acquiring the Red Rooster chain in 1986, which made it the largest Australian-owned fast-food group at the time.
In August 1985, Myer Emporium Ltd. and G.J. Coles & Coy Ltd. merged, becoming the largest Australian corporation at the time. The official name change to "Coles Myer Limited" followed in January 1986. This merger allowed Coles Myer to enter new sectors of the retail market, such as department stores and discount stores, and further solidified its position as Australia's largest retailer.
Coles Myer also owned well-known brands such as Target, Kmart, Liquorland, and Officeworks, and was one of Australia's leading owners and managers of retail property, with real estate assets valued at A$1.43 billion in 1991. However, in 2006, Coles Myer sold its Myer department store business to a consortium led by US private equity group Newbridge Capital, which included the Myer family. This sale marked a significant change for the company, and it changed its name to "Coles Group Limited" in November 2006.
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Coles Myer sold Myer in 2006
Coles Myer, formerly known as G.J. Coles & Coy. Ltd., was founded in 1914 in Collingwood, Victoria. It was Australia's leading retailer in terms of the number of stores and selling area. The company owned and operated stores in most sectors of the Australian and New Zealand retail markets, including supermarkets, discount department stores, department stores, clothing stores, liquor stores, fast-food outlets, and automotive service centers.
In 1985, Myer Emporium and GJ Coles & Coy merged, becoming the largest Australian corporation at the time. The official name change to "Coles Myer Limited" took place in 1986.
In 2002, Coles Myer sold its Red Rooster chain to Western Australian company Australian Fast Foods. In 2004, the company revamped its department store operations, rebranding 27 Grace Bros. stores in New South Wales and the Australian Capital Territory under the Myer name.
On March 13, 2006, Coles Myer announced its decision to sell Myer to a consortium led by US private equity group Newbridge Capital, which included the Myer family with a 5% stake. The sale was finalized on June 2, 2006, for A$1.4 billion. Following this sale, Coles Myer changed its name to "Coles Group Limited" in November 2006 and updated its listed code on the Australian Securities Exchange from CML to CGJ.
In April 2006, Coles Myer acquired Pharmacy Direct for $48 million, sparking controversy as it used Pharmacy Direct's corporate license to bypass laws restricting pharmacy ownership to qualified pharmacists. This led to legal action, and in 2009, Coles was ordered to sell the business.
In August 2006, Coles Group began to rebrand or divest its Bi-Lo stores, but this was halted in 2007 pending the sale of the company. In May 2023, Coles sold its Coles Express stations to Viva Energy, the Australian retailer of Shell.
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Coles Myer owned Red Rooster until 2002
Coles Group Limited, formerly known as Coles Myer Ltd. from 1986 to 2006, is an Australian public company that operates 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.
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Coles Myer was renamed Coles Group Limited in 2006
Coles Group Limited, formerly known as Coles Myer Ltd., is an Australian public company that operates several retail chains. It is the second-largest retailer in Australia after Woolworths, in terms of revenue.
Coles Myer Ltd. was formed in 1985 after a merger between Myer Emporium Ltd. and GJ Coles & Coy Ltd. The official name change to "Coles Myer Limited" followed in January 1986.
In 2006, Coles Myer announced that it would sell Myer to a consortium controlled by US private equity group Newbridge Capital. The sale was completed for A$1.4 billion on 2 June 2006. Following this sale, 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 its first-ever registered company name of G.J. Coles & Coy Proprietary Limited.
Coles Group Limited operates in several sectors of the Australian retail market, including supermarkets (Coles), fuel outlets/convenience stores (Coles Express), discount department stores (Target, Target Country, Kmart), liquor stores (Liquorland, Vintage Cellars, 1st Choice Liquor Super-store, Theo's), office supplies superstores (Officeworks), and electronics stores (Harris Technology). It is one of Australia's largest private employers, with over 2,900 stores.
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Frequently asked questions
Yes, Coles Myer is Australian-owned. It was founded in Collingwood, Victoria, in 1914 and is Australia's second-largest retailer.
Coles Myer is a company that owns and operates stores in most sectors of the Australian and New Zealand retail markets. It has over 1,650 stores and is Australia's largest private employer.
Coles Myer operates a wide range of supermarkets, discount department stores, department stores, clothing stores, liquor stores, fast-food outlets, and office supplies superstores.
Coles Myer was formed in 1985 when Myer Emporium Ltd and GJ Coles & Coy Ltd merged, becoming the largest Australian corporation at the time. In 2006, Coles Myer sold the Myer department store business to a consortium controlled by US private equity group Newbridge Capital and the Myer family for A$1.4 billion. The company changed its name to "Coles Group Limited" in November 2006 and is now an independent public company listed on the Australian Securities Exchange.
