FX.co ★ Carrefour Q3 Sales Up 1.5%

Carrefour Group, a prominent French retailer, announced on Thursday that its third-quarter group sales, prior to adjustments for IAS 29, reached 23.983 billion euros. This represents an increase of 1.5% at current exchange rates and 12.9% when measured at constant exchange rates.

After accounting for IAS 29 adjustments, the group's sales for the quarter totaled 23.998 billion euros.

In France, sales rose by 8.3% to 11.662 billion euros, while sales in Europe saw a slight decline, settling at 6.509 billion euros. Meanwhile, sales in Latin America experienced an 8.0% decrease.

Alexandre Bompard, Chairman and CEO, remarked, "Carrefour had an eventful third quarter, most notably with the integration of Cora and Match in France. Our sustained investment in enhancing competitiveness in France and Europe has yielded satisfactory outcomes, notably a significant boost in customer satisfaction and a favorable trend in market share. Concurrently, the Group has noticed initial signs of improvement in consumer behavior. In Brazil, Carrefour continues to exhibit positive sales momentum, reinforcing its market leadership. Given this context, the Group reaffirms its financial objectives for the full year 2024. Additionally, Carrefour played a pivotal role in the outstanding success of the Paris 2024 Olympic and Paralympic Games and initiated the second phase of the Act for Food action plan, emphasizing the affordability and accessibility of healthy and sustainable products."