Retailer’s CEO Alexandre Bompard is examining range of options including disposals as share price lags peers
Three years ago Carrefour seemed to be on the cusp of a transformative deal. The French supermarket group was in talks with Canada’s Alimentation Couche-Tard to sell itself in a €16.2bn deal which would have created a transatlantic retail giant. However that proposal was rapidly shut down by France’s finance ministry within a matter of days, on the grounds that it threatened the country’s food security.
Carrefour has more than halved its product price gap with Leclerc, the historical price leader in France, compared to last year, analysts at Barclays noted. However while sales and cash generation have improved, operating margins have been difficult to budge and have declined slightly over the past three years, moving from 3.06 per cent in 2021 to 2.67 per cent last year. Sales in France fell 3 per cent on a like-for-like basis to €11.
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