Belgian discount retailer Colruyt has reported an increase in salesfor the first fiscal quarter of the year, up 14.7 per cent to €1.56bnfrom €1.36bn the previous year.
Sales from retail business activities had risen 13.2 per cent to €1.1bn, while wholesale and foodservice operations also grew 14.5 per cent to €260.5m as a result of strong SPAR retail and French activities.
Thegroup attributed the sales upturn to its low pricing strategy, whichappeals to consumers during times of high inflation, and in turn hasled to an increase in market share in the country.
Comparatively,Delhaize saw sales growth in Belgium of just 0.4 per cent during theApril-June quarter of the year, while Carrefour's sales in the countryactually fell by 4.4 per cent.
