The Colruyt group has revised its profit forecast for the fiscal year ending in March, warning of a significantly lower net result compared to its previous expectation of stable performance.
The warning caused investors to sharply sell off the stock and Colruyt's shares plunged on the Brussels stock exchange, losing over 17% within the first 20 minutes of trading. However, despite this drop, the share price has not yet reached its lowest point of the year, which occurred in mid-January.
In December, the listed retail group had aimed to match an operating profit of €470 million and a net profit of €368 million for the 2023/2024 fiscal year. Although full-year results will not be disclosed until 17 June, the company has already indicated it will not meet these targets.
Colruyt attributes the shortfall to intense competition and lower-than-expected food inflation, which will result in reduced revenue. Consequently, the operating result is anticipated to decrease slightly, while the net result is expected to drop significantly compared to the previous year.
According to Colruyt, the combined market share of its supermarkets—Colruyt, Okay, Spar, and Comarkt—has decreased over the past fiscal year. However, the decline in market share slowed in the second half, and the group is confident that its market share has been increasing since the beginning of 2025.
