Colruyt’s market share continues to fall, with no turnaround in sight

Colruyt, Okay, and Spar’s combined market share in Belgium continued to decline in the first few months of the current fiscal year, Colruyt Group reported Wednesday evening at its annual shareholders’ meeting. The second half of the year will be even more challenging.

Changing competitive dynamics

The challenges are well known: the expansion of Sunday openings, extended operating hours, and the abolition of the mandatory day off are factors that are changing the competitive dynamics in the Belgian market, says Colruyt Group. As a result, the combined market share of Colruyt, Okay, and Spar continues to decline: during the first five months of the current fiscal year, that market share stood at 28.3%, compared to 28.5% for the full 2025/26 fiscal year.

Although the retailer does not provide too many details, this decline is likely largely, if not entirely, attributable to a downturn at the Colruyt Lowest Prices format, which generates the lion’s share of the group’s food sales. The neighborhood grocery chain Okay was also affected but saw the situation improve starting in early 2026, when the chain began opening all its stores on Sunday mornings as well, the company says. Bio-Planet posted slight growth and maintained its market leadership in the specialized Belgian organic market. The online grocery service Collect&Go and the meal kit service Foodbag grew in line with the expanding e-commerce market. Colruyt did not provide any information regarding changes in Spar’s market share.

Profit warning

The group continues to invest in expanding its store network, with an emphasis on urban presence, extended opening hours, a tailored product range, and stronger online services. A continued focus on efficiency and cost control also remains essential. However, because costs are rising faster than revenue, the second half of the year will be even more challenging, says the retailer, which expects operating profit for the full 2026/27 fiscal year to decline slightly compared to the previous fiscal year.

Unsurprisingly, CEO Stefan Goethaert once again called for a level playing field in the retail sector: “The differences between the joint committees and the increasing flexibility of the market call for a coherent framework that is workable for employees, businesses, and customers.” The retailer had previously emphasized that Sunday openings would not be profitable for its larger supermarkets.