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“Tipping point”: Why Coles is pumping millions into tech

Coles’ decision to up capital investment in FY22 to $1.4 billion is focused mainly on improving efficiency within the business, primarily through automation. At Coles’ Strategy Day on Thursday, the company said this will account for about 60 per cent of capital expenditure (capex), while 20 per cent will go towards 50 store renewals and 20 new stores.  Chief executive Steven Cain said he remains focused on “increasing the pace of change” as Covid tailwinds turn into “unsightly hea