Coles Myer sales up 5.6 per cent

Australian retailer Coles Myer Ltd's first quarter sales rose 5.6 per cent to A$9 billion ($9.79 billion) despite tough retail conditions.

The company said it remains on track to reach its 2005/06 earnings target of A$800 million before capital management.

At the same time, Coles Myer said that about 20 parties had sought the information memorandum on the Myer department store operations and have until early December to submit bids.

- AAP