Carrefour Q3 Sales Up 19%

(RTTNews) - Carrefour (CRERF.PK, CRRFY.PK), on Wednesday reported third-quarter sales, including VAT, of 23.729 billion euros, up 19% from last year.

On a like-for-like basis, sales rose 11.3% reflecting continued market share gains in all key countries, in a context of accelerating inflation.

Alexandre Bompard, Chairman and CEO, declared: "In an environment marked by many uncertainties and inflation that is taking hold in Europe, Carrefour is demonstrating its ability to adapt and the robustness of its model. The Group is continuing its strong momentum of market share gains in all its key geographies, starting with France. We are demonstrating agility as consumers increasingly adapt their purchasing behavior to the new inflationary environment. In Brazil, the integration of Grupo BIG is progressing at a very swift pace, and we are accelerating store conversions. Carrefour is thus continuing to move ahead with confidence and is raising its cash generation target for 2022."

In France, like-for-like sales rose 6.6%, while in Spain like-for-like sales gained 8.7%. In Brazil, reported sales growth reached 64.8%, notably driven by the consolidation of Grupo BIG; like-for-like growth was 11.5%.