Colruyt, Belgium’s largest supermarket chain, has lost market share and seen its profits decline over the past financial year.
The group’s combined market share, including its subsidiaries Okay, Spar, and Comarkt, fell from 28.8% six months ago to 28.5% today.
Colruyt warned that its market share will remain under pressure in the coming year.
The retailer attributed the drop to changes at its competition, including Sunday openings, extended hours, and the removal of mandatory rest days.
Colruyt has begun opening its Okay stores on Sunday mornings, but its traditional supermarkets remain closed on Sundays. Many competitors, including discounters ALDI and Lidl, are increasingly adopting Sunday openings.
Despite these challenges, Colruyt managed to increase its annual revenue by 3.1%, reaching €10.6 billion.
However, the group’s operating profit fell by 0.9% to €465 million, while net profit dropped 4.3% to €337 million.
