French retail giant Carrefour is reportedly preparing to divest its Polish operations, which include around 800 stores and 40 shopping centres.
Several French media outlets, including publication La Lettre, have reported that Carrefour has commissioned financial advisors at J.P. Morgan to manage the sale, with a ‘data room’ now open for prospective buyers to examine the financial details.
This move follows Carrefour’s recent sale of over 1,000 stores in Italy and aligns with CEO Alexandre Bompard’s stated strategy to review and potentially exit mature non-core markets.
Carrefour Polska, which commenced operations in 1997, told Polish broadcaster TVN that it is implementing ‘a strategic plan […] in response to changing market conditions’ and has ‘begun analysing its business portfolio’.
However, the company has refrained from directly confirming or denying what it terms as ‘market rumours’ regarding the sale.
Polish Market Performance
The French retailer has faced significant challenges in the highly competitive Polish market. Carrefour’s sales in Poland declined for the third consecutive year, dropping by 3.3% in 2024, to €2.4 billion (PLN 9.33 billion), compared to €2.5 billion (PLN 9.66 billion) the previous year.
Carrefour has struggled to generate sufficient profit to effectively compete with discount stores in the country. While Carrefour’s global sales saw a 9.9% like-for-like increase in 2024, its Polish performance lagged significantly.
Rumours of Carrefour’s potential exit from Poland have circulated for several years. Previous reports suggested interest from giants like Walmart and Amazon, and in 2021, the Canadian group Alimentation Couche-Tard (the owner of Circle K) attempted an acquisition, which was blocked by the French government.
Earlier, unconfirmed reports suggested that Carrefour had held preliminary talks with retailer Ahold Delhaize, which ultimately withdrew.
Previously, Ahold Delhaize was present in Poland, with its Albert and Hypernova stores, which Carrefour acquired in 2006. Piotr i Paweł, Tesco and Groupe Casino have also left the market.
Should Carrefour proceed with the sale, it would mark the exit of another major international retailer in the Polish market – a trend driven by increasingly fierce competition.
By Branislav Pekic
Source: esmmagazine.com
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