Carrefour Q1 like-for-like sales rise 2.2% to €21.14bn, confirms 2026 targets
Carrefour's Q1 like-for-like sales rose 2.2% to €21.14bn, with food up 2.6% and non-food down 0.7%. The group upheld 2026 guidance for high single-digit operating income and EPS growth, margin expansion over 25 basis points and free cash flow above €1.56bn.
1. First-Quarter Results
Carrefour reported like-for-like sales growth of 2.2% in Q1, reaching group sales of €21.14bn. Food sales rose 2.6% LFL while non-food declined 0.7%, reflecting varied category momentum.
2. Regional Performance
In France, LFL sales grew 1.4% as market share gains supported performance, with former Cora and Match formats up 2.3% and 3.4%. Spain delivered 3.1% growth aided by convenience and e-commerce, while Brazil saw a 0.8% like-for-like decline and other markets jumped 9.3%.
3. Guidance and Strategic Initiatives
Carrefour reaffirmed 2026 targets for high single-digit recurring operating income and adjusted EPS growth, over 25 basis points of margin expansion and free cash flow exceeding €1.56bn. Under its Carrefour 2030 plan, the retailer rolled out ‘at-cost’ pricing campaigns, opened 122 net new stores in France and Spain, enabled direct ChatGPT ordering in France, launched the Bulnez private-label in Brazil, issued a €500m sustainability-linked bond and secured a solar power purchase agreement covering 25% of Brazilian energy needs.