Carrefour may exit the Italian market
Rumours from Germany about the gradual sale of supermarkets to some brands, including national ones
by Enrico Netti
2' min read
2' min read
The hypothesis that Carrefour may exit the Italian market is gaining ground for the time being. The German weekly Lebensmittel Zeitung has reported that there are expressions of interest from, among others, the German Lidl, but also Conad and Esselunga. All the companies questioned by Sole-24 Ore preferred not to comment on these rumours. The German periodical cites anonymous sources inside several European retailers, according to which Carrefour is already in negotiations with several European brands for the sale of the Italian business. Already last November, this time it was the Financial TImes, there was talk of an exit strategy from 'non-core' countries including Italy along with Belgium, Romania and Poland, while in recent months Carrefour has exited Jordan and Oman.
In November 2022, during the health emergency, the French multinational announced its 'Carrefour 2026 strategic plan' aimed at achieving leadership in retailing in an extremely changing economic, social and climatic context.
Italy, however, continues to be stingy with satisfaction and the productivity (sales per square metre ndr) of Carrefour Italy is, according to the latest findings of Mediobanca, well below the Italian average with only EUR 5,716 against the national figure of EUR 7,770. Thus 2024 ended with revenues of 4.18 billion, -2.6% on a like-for-like basis. Between 2019 and 2023, according to Mediobanca's Gdo report, Carrefour in Italy accumulated losses of 874.2 million. Also according to Mediobanca data, the French brand is suffering both in the domestic market and in its foreign activities, always performing below the sector average.
In short, a real profitability emergency. Also in Italy, a strategy has been put in place to sell outlets of all sizes to franchised entrepreneurs. A way to relieve themselves of the most critical assets.
What could happen?
.If these rumours are confirmed in an exit from the Italian market of Carrefour, a 'spezzatino' hypothesis could be set up in which the different brands could buy 'lots' with a series of outlets that better fit in with their own reality both in terms of format and sales basin. A few supermarket chains, for example, might be interested in all formats, from proximity formats such as Carrefour Express to supermarkets and hypermarkets.
