Carrefour grows in France and Brazil, lags behind in rest of Europe
Carrefour says it is rather pleased with its financial results in the second quarter and first half of the year, despite challenging conditions in Europe. Growth was driven by its core markets, France and Brazil.
The French retailer confirms its financial targets for 2024 and “enters the second half of the year with confidence”, a press release states. In a mixed economic environment, the group had a very good performance in its two main countries, France and Brazil, CEO Alexandre Bompard said. Elsewhere in Europe, the group claims to have suffered from the weather.
In France, the group increased its footprint with the acquisition of 23 former Casino stores and the integration of 175 Cora and Match supermarkets. It also added a record number of new franchisees with 166 convenience stores. Market share in the home market thus reached its highest level since 2012. However, comparable sales fell 2 % in the first half of the year, according to the group this was caused by lower prices following the inflation peak.
Carrefour’s sales rose 10.8 % like-for-like in the second quarter, and 12.1 % over the first half of the full year. EBITDA grew 3.4 % to 1.92 billion euros, while recurring operating profit rose 6.2 % to 743 million euros. Operating margin improved 11 basis points to 1.8 %. E-commerce grew significantly by 28 % in the second quarter and 30 % in the first half of the year. In Brazil, gross trade volume even increased by 46 %. Profits actually halved in Europe (excluding France) over the first half of the year, from 164 million euros in 2023 to 84 million euros today.
Carrefour expects to end 2024 with more profits. The Paris Olympics, where the retailer is a major sponsor, should provide greater visibility and promote the group’s values.
Retail Detail
Related news
Carrefour sells Italian branch to NewPrinces Group
Carrefour has entered into a binding agreement with NewPrinces Group…
Read more >Albert Heijn discloses methane emissions in “world first” move
The grocery chain revealed its methane emissions accounted for approximately…
Read more >More than a million people have signed a petition against a law reintroducing a pesticide
A petition calling for the repeal of a law that…
Read more >Related news
The Hungarian Central Statistical Office (KSH) reported better-than-expected GDP data
In Q2 2025, Hungary’s GDP figures published by the HCSO…
Read more >Beer producers are hoping for a hot August
After nearly three percent growth last year, domestic beer consumption…
Read more >Gergely Gulyás: the government is expanding the support program for small-town grocery stores
The government is expanding the grocery store support program launched…
Read more >