Carrefour reported like-for-like (LFL) sales growth of 2.2% in the first quarter of 2026, helped by stronger trading in France and Spain, while the retailer left its full-year financial guidance unchanged.
Group sales totalled €21.14bn ($24.73bn) in the quarter. Food sales rose 2.6% on a LFL basis, while non-food sales fell 0.7%.
In France, LFL sales increased 1.4%, which the company said reflected gains in market share and better customer satisfaction.
The former Cora and Match outlets performed ahead of Carrefour’s legacy formats, delivering LFL growth of 2.3% and 3.4% respectively.
Spain posted LFL growth of 3.1%, supported by convenience stores and e-commerce.
In Brazil, sales were down 0.8% on a LFL basis, which Carrefour linked to softer food inflation and slightly negative volumes.
In its other markets, the group recorded LFL growth of 9.3%.
Carrefour chairman and CEO Alexandre Bompard said: “Carrefour has delivered a solid start to 2026, with solid sales growth, in a volatile geopolitical and macroeconomic environment.
“This strong overall performance, achieved through the commitment of our teams and partners, is in line with our expectations for this first quarter, and we confirm all our financial targets for 2026.”
During the quarter, Carrefour continued to implement its Carrefour 2030 plan.
In France, this included pricing measures such as “at cost price” campaigns and two rounds of price reductions.
The group also expanded its convenience estate, with a net 122 store openings across France and Spain and introduced the Bulnez private-label range at Atacadão in Brazil.
Carrefour said it had also made its offer available directly through the ChatGPT interface in France.
On the operational side, the retailer pointed to better results from supplier talks carried out under the Concordis European buying alliance, which it said supported competitiveness in key markets.
The company reaffirmed its 2026 targets, projecting growth in recurring operating income and adjusted earnings per share in the high single digits.
It also expects operating margin to expand by more than 25 basis points from 2025 and net free cash flow to exceed the €1.56bn reported in 2025.
Carrefour said it is watching developments in the Middle East but added that it has not seen “any significant change in consumer habits, or any material impact on its business.”
The group also said it continued to advance its sustainability and financing efforts, including the issuance of a €500m sustainability-linked bond and a solar power purchase agreement in Brazil that will cover 25% of its energy requirements from 2027.
