(AOF) – Carrefour recorded a turnover of 22.156 billion euros in the first quarter, up 13.5% on a comparable store basis. It was driven by Latin America where growth amounted to 48% to 6 billion euros. On a comparable store basis, activity fell by 0.4% to 10 billion euros in France and by 0.2% in Europe to 6.155 billion euros. In France, the evolution of income reflects a growth of 0.4% on a comparable basis in food, while non-food is down 7.5%.
“This performance comes in a context of slowing inflation and volumes still under pressure,” specifies the distributor.
Carrefour announced the strengthening of the cost savings plan, increased to 1.2 billion euros in 2024 compared to 1 billion euros previously.
Alexandre Bompard, Chairman and CEO, declared: “In the first quarter, the Carrefour Group demonstrated resilience in Europe, in a context of continued pressure on purchasing power, and recorded very clear signs of recovery in Brazil. , particularly in its Atacadão and Sam’s Club formats To strengthen our competitiveness while preserving our economic model, we are amplifying our cost reduction dynamic and will accelerate the movement of price reductions throughout 2024 in France and elsewhere. the rest of Europe.
The retailer’s financial targets for the 2024 financial year have been confirmed. Carrefour anticipates growth in EBITDA and current operating income. Net free cash flow is expected to be in line with the trajectory of the Carrefour 2026 plan.
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