Snow fails to thwart Belgian Colruyt's targetsThis article was originally published in Foodnews
THE snow and icy weather in December failed to dent Colruyt's confidence and the Belgian retailer is sticking to its full-year targets. Colruyt recorded a 7% rise in sales to EUR1.94 billion (USD2.64 billion) for the third quarter, in line with its forecasts and despite harsh weather conditions and weak consumer confidence. Total sales for the nine-month period rose 8% to EUR5.5 billion (USD2.6 billion), boosted by a 5.0% rise at its Wholesale & Foodservice arm to EUR947.4 million. Colruyt, which is due to report full-year results on 27 June, also said it continues to focus on a low-price strategy.