French retail giant Carrefour has posted a 3.3% increase in full-year sales to €85.7 billion, in its fifth consecutive year of like-for-like sales growth.
The retailer’s like-for-like sales in its home market, in France, were up 0.3% to €40.1 billion, however, total growth (excluding petrol) at constant exchange rates was down 0.5%.
Internationally, like-for-like sales were up 4.9% to €45.6 billion (+6.3% at constant exchange rates).
The retailer also saw an improvement in like-for-likes in its fourth quarter, which were 2.9% up overall. France saw a 0.7% increase in like-for-like sales in the quarter, while international like-for-likes went up by 4.5%.
In France, Carrefour said that it has seen ‘[a] solid performance, demonstrating the relevance of our omnichannel strategy’, as well as ‘very good momentum in food sales’.
In addition, the fourth quarter also saw the completion of the conversion of former Dia France banners to Carrefour.
Internationally, in 2016, Carrefour continued ‘rolling out its multi-format model, accelerating openings of convenience stores, notably in Brazil, Spain, Poland and China. The group also continued its strategy of tactical acquisitions, in Romania, with Billa, and in Spain, with selected Eroski stores’.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
