There was still a contraction throughout 2022 (-0.9 percent), although the final quarter already promised improvement (+3.4 percent). The initiatives of the Belgian management have borne fruit in the first quarter, Carrefour reports Tuesday after close of trading in a press release. There is “strong growth, especially in the hypermarkets” and an increase in market share after stabilizing in the second half of 2022.
The entire Carrefour group saw turnover in the January-March period grow on a comparable basis by 12.3 percent to 22.07 billion euros.
In a context of very high food inflation, Carrefour remains on track and maintains “strong commercial momentum”, with stable market share in all key countries, CEO Alexandre Bompard said. The retailer reports, among other things, a strong increase in the sale of private label products.