Strong sales momentum for Carrefour in first quarter

Carrefour has made a very strong start to the year, with group-level sales growing more than 12 % in the first quarter of 2023. The Belgian subsidiary gained market share and was one of the best performers.

“Maxi method” pays off

Group sales grew 12.3 % to 22 billion euros in the first quarter. Sales rose in all countries; in the main markets, the food retailer also gained market share. In its French home market, Carrefour recorded comparable sales growth of 7.1 %, in the rest of Europe 8.8 %, in Latin America even 26 %.

In a difficult context with high inflation rates and a consumer downtrading, Carrefour says it is outperforming the market. The retailer owes its good results partly to the application of the so-called “Maxi method”, which improves productivity in stores and provides shoppers with solutions to keep their budgets under control by focusing on the first-price brand Simpl, the Carrefour private label and the strongest promotions.

Logistical problems under control

This approach is also bearing fruit in Belgium: for the third consecutive quarter, Carrefour posted strong sales growth here (+ 9.9 %), especially in hypermarkets. Moreover, the company regained market share in a highly competitive environment. Customers appreciate the retailer’s purchasing power initiatives.

“Under the leadership of Geoffroy Gersdorff, the Executive Committee was renewed and redesigned at the end of 2022 to meet all the challenges of the Carrefour 2026 strategic plan”, Carrefour Belgium reported in a press release. “Thus, each department is led by a dedicated operations director who focuses his actions on customer satisfaction. Moreover, the arrival of a new logistics director has helped stabilise the logistics flow.”