Advertise with

Carrefour Q2 2013 results, Preparing for life as a healthy #2 in the market, rather than an ailing #1
Carrefour Q2 2013 results, Preparing for life as a healthy #2 in the market, rather than an ailing #1

Carrefour Q2 2013 results, Preparing for life as a healthy #2 in the market, rather than an ailing #1


Comment from Gildas Aitamer, Retail Analyst at Planet Retail, - Jul 25th 2013, 15:17

On Carrefour’s second-quarter results, Gildas Aitamer, Retail Analyst at Planet Retail, commented:  

“As anticipated, Carrefour’s recovery in its home market remains difficult in light of a challenging price-focused competitive environment, alongside an unfavorable economic climate that has taken its toll on non-food sales. Even so, we remain confident that Carrefour’s efforts towards consistency, rationalisation of processes and appointment of expertise in key posts will eventually enable the retailer to get back on track. It will, however, lose its crown as France’s largest retailer earlier than expected, but better to be a relatively healthy number two in the market than an ailing number one.

“Internationally, with Carrefour now centered on three main geographical areas, and increased capex announced for France, Brazil and China, the retailer is well-configured to look towards long-term growth. All the same, it still has plenty on its the plate, as both BRIC operations have encountered slowing growth - Brazil impacted by negative exchange rates and the need to sustain long awaited Chinese positive like-for-likes. With the latter market, Carrefour is believed to be assessing its options. While a full-scale withdrawal seems highly unlikely, a degree of guidance on the strategic direction for China would be very welcome.

“In addition, the retailer remains under pressure to exercise price restraint by an Argentinian government fighting a war on inflation. Last but not least, the situation in Europe is as problematic as ever, with Spain and Italy in particular continuing to weigh heavily on Carrefour’s performance in Western Europe, while in CEE, Poland and Romania are both approaching potentially tricky points in their respective retail market development.”

Gildas is available for further comment and can be contacted on +49 (0) 6996 21 7575 or via e-mail at  

Related News

Alibaba results beat estimates on cloud, e-commerce growth
19/08/2019 - 14:08
China’s Alibaba Group Holding Ltd reported better-than-expected quarterly revenue and profit, aided by growth in its e-commerce and cloud computing businesses.

Nestlé and Starbucks tie-up heads to China
08/08/2019 - 09:31
Nestlé plans to introduce its first range of Starbucks-branded products in China, as part of a global tie-up that will help bolster the Swiss company’s proprietary Nespresso capsules in one of its fastest-growing markets.

Boost for SA's economy as China lifts its beef ban
07/08/2019 - 09:10
Within one month of the meeting between President Cyril Ramaphosa and President Xi Jinping at the G20, China has announced that it is lifting the ban on South African beef exports to China. This will be a major boost to South Africa’s economy given that China is the largest consuming market for South African beef and related products.

Swine fever epidemic may slash China's pig herd by half
30/07/2019 - 10:52
China’s pig herd could halve by the end of 2019 from a year earlier as an epidemic of African swine fever sweeps through the world’s top pork producer, analysts at Dutch bank Rabobank forecast.

France's Carrefour takes steps to exit China with deal
24/06/2019 - 15:02
Carrefour, Europe’s largest retailer, took a decisive step on Sunday towards a full exit of the Chinese market by selling a majority stake of its activities in the country to