Belgian retailer Colruyt recorded a 2.8% rise in its revenues in the period from 1st April to 30th September 2019, according to ESM. With turnover reaching €4.7 million, Colruyt now holds almost a third (32.5%) of Belgium’s retail market. The chain operates stores under the Colruyt Lowest Prices, OKay and Spar banners. Its core Colruyt business in Belgium and Luxembourg recorded a 1.4% rise in revenue, thanks to new store openings and store expansions, as well as a focus on the rollout of electronic price labelling. Colruyt’s French operations also saw an increase in revenues, of 11.9%.
In its press release, Colruyt states that the firm does
“not anticipate a significant upturn in the economic climate for the consumer in Belgium in the short term. Colruyt Group expects consumer confidence to remain slightly positive in France.”