Belgian Colruyt Group saw its turnover grew by 3 % to more than 4.5 billion euros in the first half of the fiscal year 2018/19. Other results were encouraging as well for the market leader: gross profit margin increased from 25.7 % to 26.3 % and market share increased from 31.9 % a year ago to 32.4 % now.
Price pressure is decreasing
The Belgian market was less competitive than last year, when there were more promotions and higher price pressure, the retailer reports. The share of private labels is up as a result of price increases by the national brands. In its press release, Colruyt also points to the negative effects of higher excise duties on alcoholic beverages.
Turnover of the eponymous chain has grown by 1.7 %, partly owing to the opening of three new stores. By 2029, 171 Colruyt stores will be converted into low-energy stores. OKay, Bio-Planet and Cru have realized a combined sales growth of 6.9 %, wholesale sales rose by 4.8 % to 410 million euros. This increase can largely be attributed to Retail Partners Colruyt Group (Spar, Alvo), partly thanks to good summer months. Dreamland and Dreambaby had to face a 7.1 % turnover drop, partly due to the growth of online. Colruyt's turnover in France grew by 11.6 %.