(Reuters) -Belgian supermarket chain Colruyt said on Friday its full-year result would likely miss forecasts due to stronger competition and lower than expected food inflation, leading to slower revenue growth.
The company, which will publish its 2024-25 full-year results on June 17, said it expects an increase in consolidated revenue of about 1% for the year based on preliminary non-audited figures.
WHY IT’S IMPORTANT
The supermarket chain said last June it was aiming for a flat operating profit and net result year-on-year for 2024/25.
But the group missed estimates in the first half and posted a 0.5% revenue drop in December.
BY THE NUMBERS
Colruyt now expects its operational result to decrease slightly and its net result to decline more markedly, it said.
In 2023-24, the company achieved an operating result of 470 million euros ($532 million) and a net result of 368 million euros.
Colruyt said the combined market share of its brands Colruyt Lowest Prices, Okay, Spar and Comarkt declined over the year, but the drop was lower in the second half and some losses had reversed since the beginning of 2025.
SHARE REACTION
Shares in the company were down 12.5% in early Friday trading.
($1 = 0.8828 euros)
(Reporting by Alessandro Parodi in Gdansk. Editing by Mark Potter)
