Carrefour confident after an acceleration in sales in Q1 | Photo credits: © Barbe Lionel, Carrefour
PARIS, April 20 (Reuters) – Carrefour expressed confidence on Wednesday in its ability to achieve the main objectives of its recovery plan after an acceleration in sales growth in the first quarter, thanks in part to the dynamism of its activities in Brazil.
Europe’s leading retailer has confirmed that it is aiming for free cash flow of more than €1 billion this year and has raised its annual cost reduction target to €900 million, in the current savings plan, increased in February to 2.7 billion for the period 2021-2023.
Carrefour achieved over the first three months of the year a turnover of 20.239 billion euros, up 3.4% over one year on a like-for-like basis.
Sales remained stable in France, still on a like-for-like basis, while they posted growth of 3.4% in Spain and 7.5% in Brazil.
Its growth was limited to 0.7% in the fourth quarter of last year.
(Report Dominique Vidalon, French version Marc Angrand, edited by Jean-Michel Bélot)