Carrefour confident on turnaround plan after strong Q1 sales

Published by
Reuters UK

PARIS (Reuters) – Carrefour, Europe’s largest food retailer, said on Wednesday it was confident it would achieve the strategic goals set under its turnaround plan after sales growth accelerated in the first quarter, thanks notably to strong growth in Brazil. Carrefour reiterated a target to generate free cash flow above 1 billion euros in 2022 and with cost inflation accelerating, said it now aimed for more than 900 million euros in cost savings this year. First quarter sales reached 20.239 billion euros ($21.97 billion), marking like-for-like growth of 3.4%, driven by solid growth in Brazil a…

Read More