Belgian retailer Colruyt Group sees its margins evaporating as a result of increasing price competition and rising costs. The retailer does gain some market share, but pays a high price for this. Its profits fell by a third, and will be even lower this year.
Under the bar
Although Colruyt Group’s revenue rose slightly in the financial year 2021-2022 (+ 1.2 %), its operating profit fell by a whopping 28,3 %. The margin drops from 5.3 % to 3.7 %: this is mainly due to the weaker performance of the group’s food chains.
