Belgian retailer Colruyt has seen its first-half revenue rise by 2.4%, to over €5.6 billion, according to a statement just filed.
The Belgian market leader said that its market share in the country increased by 19 basis points, compared to the same period last year, to now stand at 31.8%.
Gross profit margin at the retailer increased to 25.7%, up from 25.0% last year. Gross profit was up 5.4%, to €1.2 billion.
‘Strong competition and a persistently difficult economic climate continue to characterise the Belgian and French retail market,’ the retailer said in a statement. ‘There were few signs of economic recovery, and consumer confidence remained negative.’
Revenue at Colruyt stores in Belgium and Luxembourg rose in the period, mainly due to price inflation, it added.
‘The Colruyt banner delivers on its brand promise: to offer the lowest prices day after day, for any product at any given time,’ the company added. ‘Price reductions and promotions offered by competitors are immediately integrated in its sales prices. Colruyt's lowest-price guarantee was, again this year, confirmed by consumer organisations and specialised trade-press publications.’
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
