Moreover, although it opened more new stores than in the years before 2008, the turnover remains below the peak reached in Romania. Last year Carrefour’s turnover was EUR986 million (VAT-less) in Romania, 17% lower than in 2008.
Last year’s sales went up 3% against 2011, according to the company’s annual report.
2008, the last year of economic boom, was the French group’s best. In the years that followed, Carrefour sought to boost its sales through new store openings, while consumption fell and Romanians ended up buying only strict necessities at low prices.
Last year alone the French company opened 21 supermarkets and 16 convenience stores, bringing the network to 108 units.
The opening of new stores boosted Carrefour’s retail area (on all three formats) to almost 250,000 square meters, up more than 50% against 2008, according to ZF estimates.
ZF calculations considered an average hypermarket area of 8,000 square meters, 800 square meters for supermarkets and 200 square meters for convenience stores.
Sales per square meter therefore declined to almost half against 2008, to slightly less than EUR4,000 per square meter, according to ZF calculations.
This indicator is one of the most important ones in retail because it shows the actual trend of consumption and of a store’s sales.
Carrefour representatives did not give comment.
(English version by Daniela Stoican)