Carrefour FY24 Net Income Down

(RTTNews) - French retailer Carrefour Group (CRERF.PK, CRRFY.PK) Wednesday reported full-year net income, group share, of 723 million euros, compared to 1.659 billion euros last year.

Net income, group share, adjusted for exceptional items, was 1.081 billion euros or 1.61 euros per share, compared to 1.221 billion euros or 1.71 billion euros last year.

Net sales for the quarter were 85.445 billion euros, compared to 83.270 billion euros last year. Total revenues were 87.270 billion euros, compared to $84.908 billion euros.

Alexandre Bompard, Chairman and CEO, said: "In 2024, in a market environment still impacted by the period of inflation, Carrefour strengthened its competitiveness, commercial momentum, and profitability in its core countries. The Group today presents solid financial results and indicators confirming the strong progress of its strategic plan. The shift towards franchising continues, private label and e-commerce sales are growing, and the Group has achieved 111% of its CSR index target. Reaching these milestones reflects the outstanding commitment of our employees, and I would like to thank them, as well as all our franchise partners."

The Group also announced it has initiated a comprehensive strategic review of its business portfolio, covering all activities and organizational models. As a first step in this process, Carrefour has decided to acquire full ownership of Carrefour Brazil, a country where the Group has built a leading market position through a highly competitive business model and targeted acquisitions. Meanwhile, the Group will intensify its investments in France, particularly in its stores and logistics platforms in order to improve the customer experience.