Carrefour recorded robust sales growth in 2023, driven by strong progress for its private labels and online presence. Romania and Belgium are among the group's top performers, as reported by RetailDetail.

Satisfied Customers

With a comparable sales growth of 10.4% to 94.1 billion euros and a 7.6% increase in net profit, Carrefour had a strong year.

The retailer highlights the strong progress of its private label Carrefour, which already accounts for 36% of food sales following a three-percentage-point increase, and a 26% growth in its e-commerce business, already generating a revenue of 5.3 billion euros.

NPS, which measures customer satisfaction – a key parameter for CEO Alexandre Bompard – increased by four basis points.

In France, the retailer significantly improved its operating margin: on a comparable sales growth of 4.7%, operating profit increased by 18.5% due to cost reductions and efficiency exercises. The market share remained stable.

Positive Momentum

In Europe, Belgium stood out, with a comparable revenue growth of 9% in a competitive market.

"After a challenging financial year in 2022, Carrefour is reaping the rewards of its turnaround strategy, with key indicators in the green," the press release states. Volume and market share are increasing. However, the retailer is not yet profitable here.

The momentum was also positive in Spain (+5.8%), Italy (+3.1%), and Romania (+7%). In Poland, sales were slightly under pressure due to a decrease in consumer purchasing power and the impact of the war in Ukraine. In Latin America, sales increased by 23.5%, but operational results declined due to integration costs related to Grupo Big.