E.Leclerc, France’s largest retailer, has widened the gap between the company and its nearest rival in 2009 after reporting an almost 6% rise in turnover.
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The company said yesterday (20 January) that annual revenues grew by 5.6% last year to EUR27.2bn (US$38.25bn) thanks to its “permanent” low prices.
The business grew its share of the French retail market by 0.6% to 17% in 2009, some 3.9% ahead of main rival Carrefour, after seeing its sales rise the fastest during the year.
Leclerc issued a note of caution on the prospects for the French economy this year but said its position in the sector should help it continue to grow.
“2010 will probably be more difficult than 2009. The end of government measures that were helping consumption, the rise in unemployment and the cost of the unavoidable regulation of the crisis – like taxes – will lower purchasing power,” the company said.
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By GlobalData“More than ever, in this difficult economic context, E.Leclerc’s image as a hard discounter, built over the years through a sustainable strategy of permanently low prices, should enable
the business to continue its development.”
