By James Atkinson
Coles opened 41 liquor stores and closed 20 during the financial year ended June 30, Wesfarmers revealed today.
Wesfarmers said the liquor business continued to underperform during the year, but progress was made in targeting offers for customers and more effective management of costs.
"A focus on reshaping the store network and range rationalisation resulted in the closure of a number of underperforming liquor stores and increased clearance of inactive stock during the year," the company said.
Wesfarmer reaffirmed that a $94 million restructuring program was underway to support the transformation of Coles Liquor.
Coles' total food and liquor earnings grew nine per cent in the year to $1.67 billion.