Carrefour’s recovery is taking shape, but the French retailer’s future growth relies on maintaining sales momentum in its key markets.
In the first half of 2026, the company posted a 2.1% rise in like-for-like sales, signaling progress under its Carrefour 2030 strategy. The plan centers on competitive pricing, AI-driven operations, and improved in-store performance—efforts now yielding results in France, Spain, and Brazil.
France leads the rebound
France, Carrefour’s largest market, remains the primary driver of its turnaround. Like-for-like sales climbed 1.0% in the second quarter, extending a five-quarter growth streak. The gains indicate the company’s focus on value is connecting with customers.
Carrefour has prioritized price competitiveness to hold its position against rivals. It has also introduced AI tools such as Vusion’s smart shelf technology, ScoVision, and the Hopla shopping assistant to refine operations and enhance the shopping experience. While these changes are expected to deliver long-term benefits, their full impact will take time.
The 2023 acquisition of Cora & Match has boosted volumes and foot traffic, though profitability remains constrained by aggressive pricing and marketing expenses. The task ahead involves converting sales growth into lasting margins.
Expanding private-label products and investing in fresh food have also helped Carrefour differentiate itself. These moves address consumer demand for affordability without sacrificing quality.
Spain and Brazil show mixed progress
Spain delivered one of the group’s strongest performances, with like-for-like sales rising 2.2% in the second quarter. Growth stemmed from fresh food, convenience formats, and e-commerce—areas where Carrefour has increased its focus. The results support its decision to prioritize markets offering both sales and margin potential.
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Brazil’s performance has begun to stabilize. Like-for-like sales turned positive at 0.4% in the second quarter, a modest improvement after a difficult comparison with 2025, when sales had surged 4.4%. The change reflects Carrefour’s pricing and cost-control measures, which have helped counter weak consumer demand. However, high interest rates and tight household budgets continue to weigh on the market.
The country represents a substantial portion of Carrefour’s total sales, making its performance vital to the group’s second-half results.
Earlier this year, Carrefour sold its Romanian operations to concentrate on markets with stronger returns—France, Spain, and Brazil.
The coming quarters will reveal whether Carrefour can sustain its progress. AI investments and operational improvements remain in early stages, and consumer spending remains uncertain across Europe and Latin America. Cooler inflation and lower interest rates could ease pressure on shoppers, but the recovery may still face challenges.
For now, the results indicate Carrefour is moving in the right direction. However, lasting growth will depend on more than execution—it will require a broader improvement in consumer confidence, a factor beyond any retailer’s control.
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