Carrefour is considering a potential sale of its Belgian operations, according to a strategic plan released by the French retail giant, signaling a shift in priorities away from the Belgian market. The move comes as Carrefour focuses on strengthening its position in France, Brazil, and Spain, grouping Belgium, Poland, and Argentina into a reporting segment termed “Other countries.”
The company stated it will pursue a “dynamic management” of these assets, keeping all strategic options open – ranging from growth initiatives to partial or complete divestment. The decision will be guided by maximizing value creation, according to a company statement.
The news has prompted speculation about the future of Carrefour’s 10,000 Belgian employees. Wouter Parmentier, secretary of the ACV Puls union, stated the possibility had been anticipated and feared. “We were expecting this a bit, and we feared it too,” he said, according to Belga news agency.
Despite the uncertainty, Carrefour Belgium reported a positive 2025, with a 0.8% increase in overall sales and an 1.1% rise in the second half of the year, attributed to strong commercial choices and promotional policies. The company communicated Tuesday evening that it had achieved solid results, marked by sales growth and improved profitability.
However, Carrefour CEO Alexandre Bompard emphasized the need for continued growth and profitability improvements as part of the 2030 plan. This plan aims for a 25% market share in France and 20% in Brazil by 2030, alongside strengthening its position as the number two player in the Spanish market.
The company as well plans to achieve €1 billion in annual savings through automation and the use of artificial intelligence to improve productivity. These expectations extend to the “other countries” segment, including Belgium, with pressure to demonstrate performance that justifies continued inclusion within the group.
Carrefour Belgium’s CEO, Geoffroy Gersdorff, expressed confidence in the company’s ability to continue creating value in 2026, citing a solid foundation for future growth. The company is currently benefiting from the recent authorization to open its integrated stores on Sunday mornings, which is expected to boost sales.
The potential for franchising Carrefour’s hypermarkets in Belgium, a strategy successfully implemented in France, has been discussed as a possible path forward. In France, adopting a lease-management model – essentially franchising – for underperforming hypermarkets led to increased revenue and profitability. The question of whether this model could be replicated in Belgium remains open.
Bompard highlighted the growth potential within hypermarkets, particularly in the parapharmacy sector, noting a double-digit increase. He emphasized the need for innovation and competitive pricing within the hypermarket format.
Wilson Wellens, a sector representative at ACLVB, cautioned that hypermarkets that consistently lose money are particularly vulnerable. “There are stores that have been losing money, sometimes a lot of money, for 10 years,” he stated.
The future of Carrefour Belgium, along with Poland and Argentina, remains uncertain as Bompard indicated a willingness to produce difficult decisions, drawing parallels to previous actions taken in Italy and Romania.
