The turnround plans at French supermarket giant Carrefour were bearing fruit in the third quarter, thanks to sales outside France, analysts in retail industry appreciate.
Carrefour sales in Romania grew strongly in the third quarter, supported by favorable effect on the volume after cutting VAT on food as of June 1. Thus the subsidiary has contributed to the advance of 2.2 percent of group revenue, to EUR 21.5 billion, according to Carrefour’s financial report, matching predictions.
In Europe, where Carrefour derives almost three-quarters of its sales, organic growth in Spain (+4.6 percent) and Italy (5.9 percent) led the way.
At home in France, like-for-like sales rose 1.6 percent, reflecting uninterrupted growth for more than three years.
In the third quarter, Carrefour opened or acquired a net 145 stores, bringing the total network to 12,058 stores at the end of September.