Why Coles, JB Hi-Fi, Novonix, and Wesfarmers shares are falling today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. At the time of writing, the benchmark index is down 0.15% to 8,913.3 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Coles Group Ltd (ASX: COL)

The Coles share price is down almost 3% to $22.06. This follows the release of the supermarket giant's first quarter sales update. For the 13 weeks to 28 September, Coles reported a 3.9% increase in total group sales to $10.96 billion. This was underpinned by a 4.8% lift in supermarket sales, which comfortably outpaced its key rival Woolworths Group Ltd (ASX: WOW). However, taking some of the shine off the result was a 1.1% decline in liquor sales for the three months.

JB Hi-Fi Ltd (ASX: JBH)

The JB Hi-Fi share price is down 4% to $108.81. Investors have been selling the retail giant's shares following the release of a trading update. For the first quarter, the company reported total sales growth of 6% for the JB Hi-Fi Australia business and total sales growth of 2.5% for The Good Guys business. This growth rate may be softer than some investors were expecting.

Novonix Ltd (ASX: NVX)

The Novonix share price is down 10% to 60 cents. This has been driven by the release of the battery materials and technology company's quarterly update. For the three months ended 30 September, Novonix recorded an operating cash outflow of US$9.2 million. This left it with a cash balance of $44.7 million at the end of the period.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is down 5% to $87.85. Investors have been selling this conglomerate's shares following the release of its annual general meeting update. Management spoke positively about its performance so far in FY 2026. It said: "Bunnings' year-to-date sales growth is ahead of the growth recorded in the second half of the 2025 financial year, supported by solid trading in the consumer segment." It added that: "Kmart Group is benefiting from the strong value credentials and quality of its Anko product range, with year-to-date sales growth broadly in line with the second half of the 2025 financial year." One negative was the performance of the Industrial and Safety division. Management notes that "trading conditions remain challenging, with earnings impacted by subdued demand across the mining and resources sectors."

The post Why Coles, JB Hi-Fi, Novonix, and Wesfarmers shares are falling today appeared first on The Motley Fool Australia.

Motley Fool contributor James Mickleboro has positions in Woolworths Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Wesfarmers. The Motley Fool Australia has positions in and has recommended Woolworths Group. The Motley Fool Australia has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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