Last week, Colruyt Group went through the worst week ever on the stock exchange, but the Belgian retailer now rises to the occasion and buys back its own shares for half a million euros.
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Belgian Colruyt Group has largely managed to meet expectations for its financial year 2018/19, but operational margins are under pressure from rising costs. The leader in the Belgian supermarket branch has managed to expand its market share, despite tough competition.
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Colruyt subsidiary Bio-Planet expands the share of Belgian products in its organic range, featuring four products based on locally grown soy.
Colruyt wants to shorten its supply chain and make it more transparent by buying beef straight from livestock farmers, who will receive better prices as a result. Meanwhile, competition from foreign meat increases.
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.
Belgium's biggest supermarket chain Colruyt will have a new COO early next year as Frans Colruyt has announced that he will step down from that role on 1 February 2019. However, he will remain a member of the board of directors. The new COO will be current CFO Marc Hofman, who in his turn will be succeeded by Stefaan Vandamme.
Belgian supermarket chain Colruyt is introducing night shifts in its stores early next tear, in order to prepare orders for its click and collect service Collect & Go. The management hopes to get the unions' agreement as soon as possible.
Belgian retailer Colruyt Group has extended its 'till-free' test to three supermarkets of the OKay chain and one of OKay Compact, after having trialled it in Spar shops earlier.
Belgian Colruyt Group had a first with its latest yearly report, as it added a separate sustainability report to its already rather elaborate yearly booklet. Which facts were especially noteworthy? RetailDetail found it all out.
A solid holiday season allowed Belgian Colruyt Group to raise its market share and even keep its profit margins at the same level - contrary to expectations. The company also posted another online growth, meaning online is now worth 370 million euro.
Retail Partners Colruyt Group – Colruyt Group’s entrepreneurial division – is creating an app for Spar which allows customers to use their smartphones to scan and pay for their own groceries.
Dieter Struye, former Brico CEO, has joined Colruyt Group on Monday 12 February. He is now the general director non-food and therefore in charge of Dreamland, Dreambaby and ColliShop’s online activities.
The Belgian Colruyt family has become online pharmacy Newpharma’s majority shareholder. Newpharma is a Belgian online pharmacy active in both Belgium and France.
Colruyt Group’s six-month results clearly show that the increased competition in the Belgian food retail industry is weighing the company down. It is still highly competitive, but its margins are dwindling.
There was one store, located on the Groenplaats in Antwerp, still holding back Ahold and Delhaize’s Belgian merger, but it has now been sold to Colruyt Group, which will turn it into a Spar.
Colruyt Group has seen its turnover grow 3.4 % to 9.493 billion euro in its fiscal year 2016/2017. Thanks to the sale of its French food service business Pro à Pro on 1 February, profits also grew.