Carrefour's value range cements market share

French group Carrefour has defended its domestic market share thanks partly to a range launched in 2003.

The world's second-biggest retailer introduced discount label Number One last year as part of a price-cutting initiative. Although Carrefour did not disclose its market share figure, it said it remained unchanged from 2002.

Analysts at M+M Planet Retail said Carrefour's 2002 market share was 23.6 per cent. Carrefour is the number one store group in France.

Full-year group sales rose by 2.9 per cent to EUR78.99 billion (£54.55 billion). Carrefour hit its objective of double-digit earnings per share growth for 2003.