In a context of pressure on margins, and debt reduction for Casino, Brazil is a strategic market for the French food giants. Cash & carry stores are particularly popular, and Casino and Carrefour are both reorganizing store formats.
For the full year 2022, Carrefour Brazil recorded a 12.4% sales growth on a comparable basis excluding petrol (up by 33% at constant rates). This is a good performance as growth is only 3.4% on a comparable basis excluding petrol in France, and 4.9% in the rest of Europe. Brazil, with €20 billion in sales, or 22% of the group’s total sales, is the company’s second largest market by sales after France (46% of total revenue).
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