Carrefour thrives amid French consumption resilience, CEO says

Carrefour has demonstrated a robust performance in France during the first half of the year, with sales growing 1.1% to 22.8 billion euros. The retail giant's operating profit in the country saw a significant jump of 14%, reaching 300 million euros compared to the same period last year.

CEO Alexandre Bompard highlighted the company's competitive business model and its strategy of lowering prices as key drivers of this success. "Our growth in France has held up well, with sales increasing across all formats, confirming the competitiveness of our business model," Bompard stated. He added that Carrefour's performance was "very solid in an environment disrupted by the conflict in the Middle East," asserting that the company "did much better than resist."

Despite global uncertainties, including the conflict in the Middle East which has influenced consumer spending on discretionary items, Carrefour has benefited from steady food purchases. The company, France's second-largest retailer, has managed to navigate these challenges effectively, showing resilience and continued growth in its core French market.