BELGIUM: Colruyt "gains share" as Q1 sales increase
Colruyt said low-price strategy helped it gain sales
Belgium-based retailer Colruyt has claimed it has gained market share after its sales grew in the first quarter of its financial year.
In the three months to the end of June, Colruyt saw its retail sales increase 3.4% to EUR1.61bn (US$2.13bn). Consolidated revenue was up 2.8% at EUR2.11bn.
Colruyt operates in the wholesale and foodservice channels but generates over three-quarters of its sales from its retail stores, the bulk of which are in Belgium.
It said poor weather and the timing of Easter hit sales but added its market share had grown to its strategy of low prices.
Italian retailer Conad has confirmed its new buying alliance with Swiss grocer Coop, German retail giant Rewe and Belgium's Colruyt will be called Core....
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