Q3 2023 Carrefour SA Corporate Sales Call Transcript
Good day and thank you for standing by. Welcome to the Carrefour Q3 2023 Sales Conference Call and Webcast. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Matthieu Malige, Group CFO. Please go ahead, sir.
Thank you. Good afternoon to all of you and thank you for attending this Q3 2023 sales call. Let me start with a few key highlights before we get into the details of our third quarter sales. Sales grew 9% on a like-for-like basis over the quarter, slightly below the Q2 level of plus 10.3%. The sequential slowdown primarily reflects the slowdown in food inflation in Q3 versus Q2. Aside from lower inflation, we saw a continuation of the trends and shopping behaviors observed in recent quarters, notably trading down and declines in volumes at similar levels.
In this context, we posted solid top line momentum, notably driven by our key strategic initiatives. Private label products kept resonating particularly well
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