PARIS (Reuters) -Carrefour, Europe’s largest food retailer, kept its 2025 targets for slightly higher profits and cash intact after sales rose 2.9% like-for-like in the first quarter, thanks to a solid performance in Brazil, its second-largest market after France.
In the core French market, sales remained negative but showed a sequential improvement from the fourth quarter of 2024, reflecting the positive impact of price cuts Carrefour has been implementing to lure cash-strapped shoppers.
Sales reached 22.674 billion euros ($25.78 billion) in the first quarter, marking like-for-like growth of 2.9%.
For 2025, Carrefour reiterated it expected slightly higher earnings before interest, taxes, depreciation and amortisation (EBITDA), recurring operating income (ROI) and net free cash flow.
($1 = 0.8796 euros)
(Reporting by Dominique Vidalon; Editing by GV De Clercq)
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