Colruyt falls on 'cautious' 2024/25 guidance
12/06/2024 09:09
** Shares in Colruyt COLR.BR fall 4.5% after the Belgian
supermarket chain said it aimed at flat operating profit and net
result yoy for 2024/25
** J.P. Morgan ("overweight") says the outlook comes
"despite such a strong run rate"
** "We note mgmt. tends to guide conservatively at this
stage of the year, but consider Colruyt to be implementing the
right strategy nonetheless," JPM adds
** KBC ("hold") says the group is "prudent", notes that the
firm sees increasing competition and promotion pressure since
the start of 2024 and a narrowing difference between sales and
cost price inflation
** Degroof Petercam ("hold") deems the group's 2024/25
guidance "cautious"
** The group posted an FY operating profit (EBIT) up 67% at
470 million euros, beating Visible Alpha consensus by 6.6%
according to ING ("hold")
** Shares are on track for their worst day in six months
(Reporting by Olivier Cherfan)
((olivier.cherfan@thomsonreuters.com))