Colruyt falls after profit warning at AGM
BUZZ-Colruyt falls after profit warning at AGM ** Shares in Colruyt COLR.BR slump 10%, set for their worst day in 1-1/2 years after the company issued a profit warning at its AGM
** The Belgian retailer cut its FY guidance, now expecting a limited decrease in operating result for FY 2026/27 (vs. 'at least the same level' previously)
** J.P. Morgan assumes a 4-7% decrease in company's FY 2026/27 operating result against a consensus that assumes y/y growth
** JPM notes that low food inflation, combined with higher overall inflation, is causing costs to rise more rapidly than revenue
** "We think Colruyt has lost its status as a safe haven among investors, given its heightened earnings volatility resulting in a mixed track record and meaningful value destruction," adds JPM
** Including Thursday's losses, the stock is up 12% YTD