BELGIUM: Profit warning from retailer Colruyt
Colruyt saw retail revenues slow during the autumn
Belgium-based retailer Colruyt has warned annual profits will fall after revenues failed to grow as quickly as expected in its third quarter.
The company said its net profit for the year to the end of March would be "slightly lower" than a year earlier. Colruyt's net profit last year was EUR353.7m (US$477.9m), up 31.% on 2012/13.
"In the last months revenue has been increasing less rapidly than in the first six months of this financial year," Colruyt said as it reported its sales results for the nine months to the end of December.
Colruyt's turnover was up 4.5% to EUR6.54bn. However, revenue from its retail stores slowed, rising 4.3%, compared to 4.8% in the first half of the company's fiscal year.
The retailer said a "highly competitive and promotional market developed" during the autumn amid pressure on consumer spending.
Click here for the full statement from Colruyt.
Agricultural Products in Belgium industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The profil...
Introduction Food Retail in Belgium industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The pro......
Fruit & vegetables in Belgium industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2008-12, and forecast to 2017). The profile a...
After a careful 2011, supermarkets, the most successful grocery retail channel in Belgium, still performed well in 2012, both in value terms and in terms of increased investment in the sales area. Del...
- Why Heinz-Kraft merger could herald more deals
- Focus: Can Mars gain share in Indian chocolate?
- The challenges awaiting ConAgra's new CEO
- Analysis: Is Heinz, Kraft merger "a growth story"?
- Where could pure-play Wessanen pounce?
- Mondelez coy on Philadelphia sale rumours
- Aryzta in talks to buy 49% of French grocer Picard
- Innocent to axe veg, noodle pots
- Glanbia quits PZ Cussons Nigeria venture
- Unilever adds butter to Stork to boost UK sales