Carrefour's Q1 Results Indicate That Yes, A Turnaround Will Take Time
Rome wasn't built in a day, and following Carrefour's first quarter results, published yesterday, CEO Alexandre Bompard will be at pains to remind shareholders that change can be a gradual process.
For the quarter, Carrefour posted a like-for-like sales increase of 0.4%, to €20.77 billion.
However, it is the group's French and European businesses' performance that are likely to garner the most attention; in France, the retailer saw a 0.1% like-for-like drop in sales, while in Europe, that decline was 0.8%.
Asia, too, was down (-3.9%), while Latin America proved a saving grace for the business, posting a like-for-like rise of 4.5%.
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!