Leclerc said that low prices have driven growth this financial year

Leclerc said that low prices have driven growth this financial year

E. Leclerc said its sales increased by more than 5% in the first half of 2011, with the French retailer attributing the growth to its low-price strategy.

The company said yesterday (12 July) that for the half ended 30 June, sales were up 5.1% to EUR13.9bn (US$19.6bn), excluding fuel. Its market share was up 0.6 percentage points to 17.7%.

Leclerc claimed the growth was driven by its position as the "cheapest brand" and said it is 4.6 percentage points cheaper than its nearest competitor.

International sales, excluding fuel, at the end of May were up 0.2% to reach EUR913m.

The company expects consumer purchasing power and confidence to decline over the year but is forecasting sales growth of 4-5% for 2011.