He says that at the end of last year he asked his suppliers how they thought this year would be and only one of them was optimistic. The rest expected either stagnation or were pessimistic.
Consumer spending showed some signs of a rebound in the fourth quarter of last year when it started moving up by 2% or 3%. The retail trade turnover, the main consumer spending indicator went up by 5% in the first two months of the year, which is one of the best trends in recent years.
Still, Melchior de Polignac says that 2012 started in line with the fourth quarter of 2011, and there are no chances for strong growth in the current macroeconomic conditions.
As for Carrefour plans, the chief executive says the plan is to continue to invest in new store openings regardless of the performance of the economy. However, the focus will no longer be on hypermarkets but smaller format stores.
The company has already opened five supermarkets (Carrefour Market) and two convenience stores (Carrefour Express) this year, so that its network now comprises 25 hypermarkets, 50 supermarkets and five convenience stores.
(English version by Loredana Fratila-Cristescu)