RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Subscribe
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
thumb
Written by Pauline Neerman
In this article
  • Companies Carrefour
  • Topics Financial results
  • Geography BelgiumFrance
Share article
  • facebook
  • instagram
  • twitter
  • linkedin
  • email

Belgium spoils excellent Carrefour results

icon
Food28 July, 2022
Carrefour hypermarkt Hasselt
Shutterstock.com

Carrefour has had a solid first half of the year and gains market share in all of its core markets. However, Belgium is the ugly duckling: sales have dropped there and the French supermarket group is losing money on its investments.

Turnover falls in Belgium

Carrefour’s overall sales rose by 17.2 % in the second quarter, or 7.3 % on a like-for-like basis. The entire first half of the year saw a growth of 13.2 % (or 5.4 % like-for-like). The supermarket group says it is gaining market share in all of its key markets.

Belgium is clearly not one of them, though, as the Belgian branch casts a dark shadow on Carrefour’s otherwise solid quarterly results. In the second quarter, Belgian sales fell by 4.8 %, following a 7 % decline in the first quarter. The quarterly sales amounted to 1.1 billion euro.

In Belgium, Carrefour had to cope with strikes in the warehouse of a logistics partner in Nivelles, but the chain has also been struggling for some time with the sharp competition among supermarkets. Striking: the fact that the recurring operational income (Ebit) in Europe fell by 63 million euros to 163 million is due to the Belgian activities. Elsewhere, the return was stable, says Carrefour itself.

New strategic plan

At group level, recurring revenues in the first half of the year increased by 10 % to 814 million euros, with a margin of 2.1 %. Excluding currency effects, however, only 1.6 % of that growth remained. Carrefour says it was able to save more costs than anticipated and now wants to save one billion euros over the whole year. E-commerce is also accelerating: in the second quarter, online volumes rose by 22 %, compared to + 10 % in the first quarter.

In November, CEO Alexandre Bompard will unveil a new strategic plan. He will announce objectives for the next four years, until 2026.

Stay up-to-date

Receive our free newsletters and do not miss out on the latest retail news.

Subscribe
logo
Carrefour hypermarkt Hasselt

Carrefour has grown in its key markets, as solid half-year results prove. The Belgian branch, however, is a big exception.

More on Food
See more
  • icon
    Food22 September, 2023
    Lidl profits under pressure

    Lidl has seen its net profit fall by a quarter to 1.64 billion euros last year. To make matters worse, rising interest rates seem to make any speedy improvement impossible as well.

  • icon
    Food22 September, 2023
    Game, set, (S)Match: Colruyt buys 57 stores, redundancy procedure started for remainder

    Belgian retail chains Match and Smatch are coming to an end. Having already sold their stores abroad earlier this year, they now also disappear from their home market. Colruyt Group acquires 57 stores, while closure looms over the almost thirty other stores (and supporting services).

  • icon
    Food21 September, 2023
    Jumbo: “Not leaving, but expanding in Belgium”

    Dutch supermarket chain Jumbo has had a slower start in Belgium than expected, but that is no sign to retreat from the country. Rather, the general planning is slowed down a bit, to fifty Belgian stores by 2025.

Events
  • 19
    Oct
    Category Management Congress
  • 23
    Nov
    RetailDetail Night
Most read
  • icon
    Fashion29 August, 2023
    Ace & Tate needs to cut costs as losses mount
  • icon
    Fashion13 September, 2023
    Inditex achieves record margins in inflationary times
  • icon
    Food8 September, 2023
    Carrefour exposes “shrinkflation” in stores
  • icon
    Fashion19 September, 2023
    H&M ends free returns
Follow RetailDetail
  • socialFacebook
  • socialTwitter
  • socialInstagram
  • sociallinkedIn
footer-logo
RetailDetail, the leading b2b-retailcommunity in the Benelux, keeps retail professionals up-to-date by means of online & offline publications, retail events, inspiring retail hunts and the unique co-creation platform retailhub, where retailers and their suppliers can experience the future of shopping.
RetailDetail Mailing Address:
Kolveniersstraat 7, bus 26 
2000 Antwerp
Visiting address:
Stadsfeestzaal – Meir 78 
2000 Antwerp
How to reach us:
Directions
© 2023 RetailDetail
general conditions | privacy policy
+32 3 500 89 59 info@retaildetail.be
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies.
Accept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT