French retailer Groupement Les Mousquetaires has reported a 6.4% year-on-year increase in turnover, excluding fuel, to €42.5 billion in its financial year 2024.
Les Mousquetaires completed the switchover of 273 stores purchased from the Groupe Casino to the Intermarché (211) and Netto (62) brands during the year.
In September 2024, the retailer launched Aura Retail, a long-term purchasing alliance with Intermarché, Auchan, and Casino to capitalise on the combined strengths of the three groups and improve their power in commercial negotiations with major manufacturers.
Thierry Cotillard, president of the Mousquetaires Group, stated, "2024 was a year of transformation and growth for our group.
"We deployed our commercial conquest strategy as planned in all the countries in which we operate, despite an economic environment that remained relatively unstable in France, but also in Belgium, Poland, and Portugal."
French Market
In France, Les Mousquetaires achieved a market share of 17% in full-year 2024, up 0.9 percentage points, driven by the addition of more than two million new customers.
Cumulative revenue increased by 7.4% year on year, to €32.7 billion, excluding fuel.
Cotillard added, "The momentum we generated enabled us to strengthen our competitive position in all our markets, particularly in France [...]. This performance is the result of our massive investments in prices, which benefit the preservation of our customers' purchasing power.
"It also reflects the work of all our business leaders across France, who strive daily to improve the customer experience, whether they are at the helm of historic stores or newly acquired ones."
The acquisition of the 273 Casino outlets, completed in the last phase in October 2024, is projected to generate an additional annual turnover of €3 billion.
The move also saved more than 10,000 in-store jobs as well as logistics roles.
In 2024, Intermarché and Netto continued to invest in offering customers products at the best prices.
Other Divisions
The Intermarché banner achieved turnover growth of 1.6% growth in Poland, to €1.2 billion, excluding fuel. The company operates a network of 185 stores in the country.
In Portugal, Intermarché's turnover increased by 3.6% to €1.9 billion, excluding fuel, while in Belgium, the retail chain's turnover grew 11% to €1.9 billion, excluding fuel.
Les Mousquetaires's Agromousquetaires division achieved a turnover of €4.2 billion in 2024.
The agri-food division operates 56 factories and aims to support the growing demand for own-brand products distributed through the Intermarché and Netto brands.
The performance of the Agromousquetaires division will help the company achieve its target of a 40% market share of own-brand products sold at Intermarché by the end of 2026.
Cotillard stated, "While 2025 seems to be starting with a significant slowdown in inflation, I am convinced that we have all the cards in hand to continue deploying our ambitious strategy to become invulnerable in France and dynamic in the countries."
Les Mousquetaires operates the Intermarché, Netto, Bricomarché, and Bricorama banners, among others.
