French group Carrefour, Europe's largest retailer, has lost market share in its home market, according to newly-released figures from research firm Kantar Worldpanel.
The group's French hypermarket market share fell 0.9 per cent in November, down to 11.3 per cent overall, despite extensive price cuts, Reuters reported.
Elsewhere, rival group Leclerc saw its market share climb by 0.8 per cent to a total 18.3 per cent, while Casino's share dropped 0.2 per cent and Auchan's share fell 0.1 per cent.
'Carrefour needs good fourth-quarter 2011 sales, especiallyin hypermarkets, to reach its lowered full-year 2011 EBITguidance of a 15-20 per centdecline,' ING analysts told Reuters. 'We believe this target is vulnerable to decreasing consumerconfidence all over Europe, triggered by the ongoing sovereigndebt crisis and by expected new austerity measures.'
