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A loss of nearly 56 million euros for Carrefour Belgium in 2018

Belgian stores of the supermarket group Carrefour recorded a loss of 55.6 million euros last year against a gain of 70 million euros in 2017, said Tuesday De Tijd based on the annual accounts of the company. This loss is largely due to the cost of restructuring but also to hypermarkets.

Carrefour eliminated 1,012 jobs and this restructuring cost the group 110 million euros. Part of the bill should be taken into account this year as the restructuring was completed in June.

Besides this, the situation of the 45 hypermarkets remains problematic. According to management, they have been structurally in a loss for years and the situation is getting worse. According to De Tijd, the model is out of date: customers are increasingly opting for non-food shopping online rather than going to a store, while for food, they choose convenience stores or less expensive brands ( Colruyt, Aldi etc.).

Carrefour has also expanded its range of small supermarkets, but this remains a difficult operation, notes De Tijd. At the beginning of 2018, the group announced the opening of some 30 neighbourhood stores, but as the group closed at the same time, net growth was limited to eight stores.

Source: lesoir.be

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