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Belgian supermarket chain Colruyt has significantly lowered its profit forecast for the past financial year, from a “stable” net result to one that is “markedly lower” (meaning a decrease of 7 to 12 %).
More competition
Colruyt had previously said that it would match both the operating profit (470 million euros) and the net profit (368 million euros) from its 2023/2024 financial year, but the retailer now has to admit that it will not achieve these targets. The Belgian retailer emphasises that the figures are “preliminary” and “non-audited”, but still found them important enough to issue the “finetuning”.
As an explanation, Colruyt points to a “stronger competitive field” and “lower than initially anticipated” food inflation. As a result, the turnover increase would amount to barely 1 %, which in turn has an impact on profitability. The brief press release did not provide more concrete results: the retailer will not publish the precise annual figures until 17 June.
Colruyt also announced that the total market share of its supermarket chains – Colruyt Lowest Prices, Okay, Spar and Comarkt – has fallen in the past financial year. However, the decline in the second half of the year was smaller than that of the first, and since the start of calendar year 2025, the group’s total market share is even expected to grow again.
