Carrefour: growth slows, but ambitions remain intact

Carrefour posted comparable sales growth of 2.1% in the third quarter. Although this was lower than in the previous quarter, the French supermarket group confirms that it is on track to meet its full-year expectations.

Slowdown within limits

Total sales amounted to €22.5 billion, representing comparable sales growth of 2.1% or 1.2% growth at constant exchange rates. This is a slowdown compared to the 4.4% growth in the second quarter, but exactly in line with market expectations. There was also a slowdown in growth in the French home market: 0.7% growth to €11.6 billion, mainly due to the integration of the former Cora and Match stores. Excluding Cora and Match, French sales rose by 1.6%.