Colruyt Reports Underwhelming FY19 as Competition Intensifies; Shares Down 15% but Still Rich
No-moat Colruyt issued fiscal 2019 results, with revenue at 4.5% growth versus the year-ago period, broadly in line with our expectations. Colruyt said it expects price and promotional pressure to intensify in a challenging Belgian retail market. We maintain our no-moat rating and do not anticipate altering our FVE of EUR 35.50 as we roll our model forward to account for fiscal 2019 results.Operating income was in line with our estimates but lower than consensus. EBIT was down 0.7% to EUR 485 m...
Etablissements FR Colruyt is engaged in wholesale, food service, distribution of fuels, production of electricity and digital printing. Co. has three operating segments: retail, which relates to stores under Co.'s own management which directly sell to retail customers and bulk consumers; wholesale and foodservice, which supplies to wholesalers, commercial customers and affiliated independent merchants; and other activities, which operates gas stations, engaged in printing and document management and provides alternative energy.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.