Carrefour Group posts 7.8% sales growth in Q1 FY20

29 Apr '20

2 min read

Pic: Carrefour Group

The Carrefour Group, one of the world's leading retailers, has posted 7.8 per cent sales growth to €19,445 million in first quarter (Q1) FY20 compared to €18,819 million in same period prior year. The company attributed the growth to solid performance in January and February and precautionary purchases in March in the context of the Covid-19 pandemic.

“The Covid-19 pandemic creates a serious and unprecedented situation. I would like to salute the exceptional commitment shown by the Group's teams in ensuring continuity of supply and access to food for everyone, especially the most vulnerable,” Alexandre Bompard, chairman and chief executive officer, said in a press release.

Sales in France grew 4.3 per cent to €9,292 million. Sales in Europe increased 6.1 per cent to €5,647 million. Sales in Latin America grew 17.1 per cent to €3,877 million. Sales in Asia were 6 per cent higher to €628 million.

The group further reported that it has strengthened its price competitiveness, notably with the launch in France of the “Market Loyalty Rewards” in supermarkets, which has been very successful and has exceeded initial expectations. Sales growth of organic products jumped 30 per cent in the quarter. Growth of food e-commerce reached 45 per cent in Q1.

Fibre2Fashion News Desk (JL)

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