[Analysis] Can Carrefour Belgium avoid a sale?

The management of Carrefour Belgium is trying to calm things down now that it appears the country is no longer a priority for the group. But isn’t the sole purpose of improving performance in the country to drive up the selling price?

Will the door remain ajar?

Despite slightly better figures for 2025 – modest growth of 0.8% on an annual basis and a “sustainable recovery in profitability,” whatever that may mean – CEO Alexander Bompard no longer sees a major role for Carrefour Belgium in his new strategic plan for the group: he needs all the resources he can get to improve the market position in France, Spain, and Brazil. According to the press release, this means that all options are open for the non-core countries (including Poland and Argentina): a full or partial sale, or “growth.”