The retail giant Carrefour Brazil posted impressive third-quarter results for 2024, reaching R$ 29.5 billion ($5.27 billion) in consolidated sales. The company’s performance showed steady growth across multiple business segments, marking a 4.8% increase from 2023.
Atacadão, the group’s wholesale division, demonstrated remarkable progress with sales reaching R$ 21.4 billion ($3.82 billion). The wholesale unit added 13 new stores throughout Brazil, strengthening its market presence. Meanwhile, Sam’s Club operations generated R$ 1.8 billion ($321 million) in revenue, showing a healthy 16.9% growth.
The digital marketplace emerged as a standout performer, with e-commerce sales hitting R$ 3 billion ($535 million). Food sales through the company’s direct-to-consumer platform jumped by 39.7%, reaching R$ 1.8 billion ($321 million). These figures represent 10.5% of total company sales, highlighting the growing importance of digital channels.
Banco Carrefour, the group’s financial services arm, recorded R$ 17.1 billion ($3.05 billion) in transactions. The banking division saw a 13.2% increase compared to 2023. Sam’s Club credit card services showed particularly strong results with a 79.9% surge in transaction volume.
The retail segment, excluding fuel sales, achieved a 7.1% growth despite reducing floor space by 22%. This strategic downsizing aimed to optimize store efficiency and improve customer experience. Store conversions from Grupo BIG to Atacadão format yielded positive results with a 14% sales increase.
Carrefour Brazil maintains its position as a leading retail group while adapting to changing consumer preferences. The company focuses on integrating physical and online retail channels to enhance shopping experiences. Store modernization continues with new features like expanded bakeries and butcher services meeting diverse customer needs.
Carrefour Brazil Achieves Strong Growth in Q3 2024
Brazil’s retail sector faces ongoing challenges from high interest rates and intense market competition. However, Carrefour’s multi-channel strategy and operational improvements help maintain growth momentum. The company’s expansion plans reflect confidence in Brazil’s retail market potential despite economic headwinds.
Like-for-like sales at Atacadão grew by 5.6%, while Sam’s Club recorded a 3.2% increase. These metrics demonstrate sustainable growth across different retail formats. The company’s strategy balances traditional retail strength with digital innovation, creating a resilient business model for future growth.
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