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Competitor Monitoring: Carrefour more than triples its profit

March 5, 2013
Written By

Carrefour, Europe’s biggest supermarket chain, has recorded positive sales growth for the full year 2012. Sales grew 0.9% to EUR76.8 billion, whilst thanks to a series of divestments, the retailer’s net income soared more than three-fold to EUR1.23 billion, up from EUR371 million in 2011.

The French retailer, and the world’s second biggest retailer after US based Wal-Mart, is looking to refocus its efforts on markets where it thinks it can be among the leading retailers.

Sales in Europe, outside of France, fell 3.1%. However sales in France, which accounts for over 40% of Carrefour’s core profits, were up 0.5%.

“Performance in 2012 was solid”, said chief financial officer Pierre-Jean Sivignon. “In 2013, we will continue our efforts in an environment that remains difficult.”

Shares in the French retail giant rose after underlying annual profits beat analyst forecasts.

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