French retailer Carrefour Group swings back to profit in first half

The Carrefour Group, a French multinational corporation specialised in retail, reported 3.9 per cent sales growth like-for-like basis (LFL) to €38.3 billion in first half (H1) of FY21 ended on June 30, 2021, against €38.0 billion in the same period of previous fiscal. Net income during the six-month period escalated to €298 million (loss: €25 million).

 

The Carrefour Group, a French multinational corporation specialised in retail, reported 3.9 per cent sales growth like-for-like basis (LFL) to €38.3 billion in first half (H1) of FY21 ended on June 30, 2021, against €38.0 billion in the same period of previous fiscal. Net income during the six-month period escalated to €298 million (loss: €25 million).#

“Once again this half, Carrefour has delivered excellent results. Our organic growth is strong, while the value-creating acquisitions in recent periods are rapidly integrated. Finally, our new cost savings plan is quickly showing its first effects,” Alexandre Bompard, chairman and CEO at Carrefour, said in a press release.

 

The Carrefour Group, a French multinational corporation specialised in retail, reported 3.9 per cent sales growth like-for-like basis (LFL) to €38.3 billion in first half (H1) of FY21 ended on June 30, 2021, against €38.0 billion in the same period of previous fiscal. Net income during the six-month period escalated to €298 million (loss: €25 million).#

Operating income surged 41.9 per cent to €689 million (H1 FY20: €485 million). E-commerce sales during H1 increased 26 per cent against last year.

 

The Carrefour Group, a French multinational corporation specialised in retail, reported 3.9 per cent sales growth like-for-like basis (LFL) to €38.3 billion in first half (H1) of FY21 ended on June 30, 2021, against €38.0 billion in the same period of previous fiscal. Net income during the six-month period escalated to €298 million (loss: €25 million).#

The company’s sales from France grew 4.1 per cent to €18.8 billion, whereas sales from Europe fell 1.7 per cent to €11.3 billion. Moreover, Latin America's sales jumped 13.2 per cent to €6.9 billion, and sales from Asia dipped 4.1 per cent to €1.3 billion.

 

The Carrefour Group, a French multinational corporation specialised in retail, reported 3.9 per cent sales growth like-for-like basis (LFL) to €38.3 billion in first half (H1) of FY21 ended on June 30, 2021, against €38.0 billion in the same period of previous fiscal. Net income during the six-month period escalated to €298 million (loss: €25 million).#

“While the sanitary and macroeconomic context remains uncertain, the group is moving forward with great serenity towards achieving its objectives, both for full-year 2021, which will be another record year in terms of cash generation, and for the medium term. Hence, we are complementing the €500 million share buyback completed at end-July with an additional €200 million programme,” Bompard added. “In addition, in the coming months, we will considerably amplify our digital transformation, whose main strategic drivers will be presented at a Digital Day to be held on November 9 in Paris.”