Carrefour's Apology: Mending Bridges with Brazilian Meat Suppliers

Carrefour faced backlash after CEO Alexandre Bompard's comments about South American meat irritated Brazilian companies, leading to a temporary disruption in beef deliveries to its Brazilian stores. The company has since apologized, aiming to restore relations and resume regular beef supply, which positively affected its stock performance.

Carrefour issued an apology following CEO Alexandre Bompard's remarks on South American meat, which sparked anger among Brazilian businesses. His comments led to a disruption in beef deliveries to Carrefour's local stores, resulting in a temporary shortage of certain cuts. The criticism, perceived as protectionist, prompted an urgent response.

In a move to mend relationships, Carrefour announced that the beef supply schedule has resumed, with full normalization expected shortly. The French retailer reassured that it never intended to criticize Brazilian agriculture, emphasizing the mutual respect for farming shared by both nations.

The apology was welcomed by the Brazilian beef lobby, signaling a potential resumption of supply. Carrefour Brasil's stocks responded positively, suggesting optimism for a swift resolution. Meanwhile, the Brazilian agriculture ministry has received a formal apology, underscoring the company's commitment to sourcing meat locally in both France and Brazil.

(With inputs from agencies.)