French multinational retail corporation Carrefour has reported third-quarter comparable sales up by 0.8 percent year-on-year following tough comparisons from the same quarter last year, which was an 8.4 percent rise.

The retailer maintained its market share momentum in France (-0.3% Y/Y) through the pandemic and reported comparable growth up 24.2% in Brazil. Sales in France were impacted by the introduction of the sanitary pass in large shopping malls.

Carrefour Spain (-2.3% Y/Y) gained market share despite fewer sales, while in the Italian region, the company returned to growth (+0.8% Y/Y) citing improved customer satisfaction.

Carrefour confirms its net-free cash flow objective, which was raised to "comfortably" above €1B in July.

"With its robust balance sheet, and thanks to the commitment of its teams, Carrefour is attractive and on the offensive, for the benefit of its customers and its shareholders," Chairman and CEO Alexandre Bompard said in a statement.

The company's stock continues to bounce around over speculation that it may be acquired by one of several private equity firms or other grocers. Earlier this month it ended talks over a possible tie-up with unlisted French-based rival Auchan.

That marked the second time this year Bompard's plans to create a Gallic supermarket powerhouse have been frustrated. 

Carrefour is in the midst of a five-year plan it launched in January 2018 to cut costs and boost e-commerce investment to improve profits and sales, as it seeks to tackle competition from online rivals such as Amazon and discounters like Lidl and unlisted retailer Leclerc.