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Oct. 28, 2020, 3:05 a.m. EDT

Carrefour backs targets as same-store sales grow

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By Cecilia Butini

Carrefour SA said Wednesday that like-for-like sales grew in the third quarter and that it backed the targets it set as part of its Carrefour 2022 plan.

The French grocery company said group sales including value added tax and pre-IAS 29 came in at 19.7 billion euros ($23.24 billion), an 8.4% increase on a like-for-like basis.

Sales in its home French market were EUR9.68 billion for the period, up 3.8% on a like-for-like basis.

Food e-commerce saw a boost in the quarter, growing more than 65%, the company said. Brazil, France and Spain were growth drivers in the segment, Carrefour said.

Carrefour backed the targets of its Carrefour 2022 plan, which includes reduction of hypermarket sales area world-wide by 350,000 square meters and the opening of 2,700 convenience stores.

The company set its 2022 financial objectives at EUR4.2 billion in food-e-commerce and EUR4.8 billion in sales of organic products.

Carrefour said it continued on its previously announced cost-cutting plan.

Write to Cecilia Butini at cecilia.butini@wsj.com

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