Supermarket giant Coles lifted its third-quarter sales 5.4 per cent to $7.1 billion, with comparable food and liquor sales up 3.8 per cent.

The result is a slowdown from the 4 per cent comparable sales growth Coles recorded during the previous quarter and follows the launch of the supermarket’s “everyday low prices” strategy.

Coles announced in November it would permanently cut prices on a range of grocery staples, rather than relying on short term promotions, in an effort to draw in customers. It has easily beaten rival Woolworths in recent times, with its comparable sales growing 4.2 per cent during the first half, compared to just 1.7 per cent for Woolworths.

Coles’s parent company Wesfarmers also reported a 11.8 per cent lift in total sales for its Bunnings home improvement chain, while comparable sales rose 9.4 per cent.

Elsewhere, Wesfarmers’ Officeworks business recorded a 9 per cent increase but comparable sales at department store Target fell 3.2 per cent after adjusting for the timing of Easter.