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So, how did the food retail industry perform in Q3 2024?
🟢 Revenue growth: Q3 2024 saw strong revenue growth driven by pricing, volume recovery, and digital strategies. Carrefour and Jerónimo Martins posted standout performances with notable LFL and YoY increases. Omnichannel innovations further supported sector-wide gains.
🟢 Profitability: Profit outcomes were mixed as cost-saving programs boosted margins for some, while others faced inflationary challenges. Retailers like Marks & Spencer showed strong profitability gains, but others reported flat or declining results due to logistical costs.
🟡 Market dynamics: Market conditions stabilized with easing inflation and recovering confidence in emerging markets. Developed markets continued to face cost pressures and high competition, underscoring the need for strategic pricing and operational discipline.
🟡 Growth outlook: Revenue forecasts remain positive, driven by digital expansion, M&A activity, and market share gains. Retailers focus on innovation and operational upgrades to secure growth in competitive landscapes.
🟢 Profitability outlook: Margins are expected to improve slightly as companies navigate inflation through efficiency programs and disciplined cost management. Investment in technology and operations supports the long-term outlook.
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