Carrefour sees sales rising thanks to encouraging evolutions in consumer behaviour, but price investments in France are weighing on revenues, while in Belgium Sunday openings at Delhaize are worrying the retailer.
Price investments
With comparable sales growth of 8.8 % in the third quarter, Carrefour has just beaten expectations. The group said that consumer confidence is now at its highest level since the start of the inflation crisis, leading to a rebound in volumes in most European countries. Sales of organic products and national brands are also on the rise again.
In the French home market, comparable sales fell 3 % due to heavy price investments. At the same time, market share there did increase due to the integration of the acquired shops of Cora and Match.
Increased competition on Sundays
In Belgium, the retailer sees a mixed picture: turnover fell by 2.2 % to 1.1 billion euros. “After an encouraging first half of the year, not all indicators show an upward trend in the third quarter”, the company admits. “This is despite ongoing investments in customers’ purchasing power, in shops and the development of the range”, it added.
“Changes in market competition, with many stores opening on Sundays, are having a significant impact on sales.” However, customer satisfaction continues to rise and the retailer is continuing on the same momentum with the aim of closing this year on a positive note.
