Colruyt falls as H1 sales miss estimates

Colruyt NV

11/12/2024 08:45

** Shares in Colruyt  COLR.BR  are down 6.8%, hitting lowest
price in a year, after company's H1 comparable sales came in
below expectations
    ** The Belgian supermarket chain reported a slight decline
in its H1 sales at 5.43 billion euros ($5.70 billion), missing
KBC Securities' estimate of EUR 5.72 bln
    ** "The decline was mainly driven by the Colruyt banner due
to unfavourable weather conditions, lower food inflation and
declining market share," says KBC in a note
    ** The company also reiterated its FY 2024/2025 guidance
    ** Stock is set for worst day in 2 years


($1 = 0.9526 euros)

 (Reporting by Clement Martinot)
 ((Clement.Martinot@thomsonreuters.com;))