Colruyt posted growth on "BBQ effect"

Colruyt posted growth on "BBQ effect"

Belgium-based retailer Colruyt has posted an 8.5% increase in sales for its fiscal first quarter on the back of promotions and shoppers seeking barbecue products during the hot weather.

Sales reached EUR1.8bn (US$2.34bn), up on the EUR1.66bn reported in the same period last year.

Colruyt's retail business, which makes up the bulk of turnover, reported 7.1% sales growth to EUR1.38bn.

Its wholesale and foodservice division, meanwhile, grew 11.4% to EUR324m. The growth in the wholesale and food distribution was attributed to its Spar wholesale activity.