PARIS — Carrefour posted a 3.1 percent increase in like-for-like sales over the fourth quarter and noted growth in Internet business for food products, as the grocery giant continues its ongoing restructuring efforts.
“Carrefour posted solid and profitable growth,” chief executive officer Alexandre Bompard said in a statement. “Our transformation plan is bearing fruit.”
Sales for the quarter were 21.7 billion euros, up 3.1 percent on a like-for-like basis, at constant rates and excluding its petrol business and calendar effects, with growth from Latin America helping to offset a 0.9 percent decline in France, its most important market.
Bompard is implementing a wide-sweeping overhaul of the French retailer, which has struggled under the weight of its sprawling big-box stores, or hypermarkets, as consumers opt for more convenient shopping, closer to home or through the Internet.
“We invested massively to catch up with the competition,” Bompard said in a conference call with analysts, referring to investments in digital and omnichannel systems.
Lackluster consumption and price wars in its home market have further complicated matters for the company, which said it saw improvement in its price positioning over the quarter thanks to the strengthening of loyalty schemes and repositioning its permanent prices.
At the same time, the company
“Carrefour posted solid and profitable growth,” chief executive officer Alexandre Bompard said in a statement. “Our transformation plan is bearing fruit.”
Sales for the quarter were 21.7 billion euros, up 3.1 percent on a like-for-like basis, at constant rates and excluding its petrol business and calendar effects, with growth from Latin America helping to offset a 0.9 percent decline in France, its most important market.
Bompard is implementing a wide-sweeping overhaul of the French retailer, which has struggled under the weight of its sprawling big-box stores, or hypermarkets, as consumers opt for more convenient shopping, closer to home or through the Internet.
“We invested massively to catch up with the competition,” Bompard said in a conference call with analysts, referring to investments in digital and omnichannel systems.
Lackluster consumption and price wars in its home market have further complicated matters for the company, which said it saw improvement in its price positioning over the quarter thanks to the strengthening of loyalty schemes and repositioning its permanent prices.
At the same time, the company
Follow WWD on Twitter or become a fan on Facebook.