Supermarket giant Carrefour is spending more on price cuts as it tries to win back market share, the company said on Wednesday as it announced a slight dip in sales in its core market of France. "The objective is to gain market share, obviously without starting a price war," finance chief Matthieu Malige told analysts on a call.
Brazilian retailer Carrefour Brasil on Tuesday reported a 2.5% year-on-year increase in its first-quarter gross sales, which totaled 27.8 billion reais ($5.42 billion) in the period. The company controlled by French retail giant Carrefour said in a securities filing that gross sales of its hybrid wholesale unit Atacadao, which accounts for nearly 70% of group activity, rose 6.6% to 19.3 billion reais. Carrefour Brasil's retail segment, meanwhile, saw gross sales slip 10.7% to 6.9 billion reais, also considering gasoline sales, as the company closed 123 stores by the end of the quarter as part of a portfolio reshuffle it started late last year.
Amidst a backdrop of fluctuating global markets and heightened geopolitical tensions, the French stock market has shown resilience, with the CAC 40 Index remaining relatively stable. In such an environment, high-yielding dividend stocks in France may offer investors a semblance of predictability and potential income stability.