The action of Colruyt supermarkets lost more than 15% at the opening of the Brussels Stock Exchange on Thursday. At 9:30 a.m., it plummeted 17.79% to 23.71 euros. In September 2021, it was moving above 45 euros.
On Wednesday, the company warned that a sharp decline in profits was to be expected. The group’s chairman, Jef Colruyt, pointed to inflationary pressure, falling volumes in grocery stores and his company’s low-price policy which does not allow him to fully pass on price inflation to the customer.
