{"id":142610,"date":"2026-02-20T14:51:55","date_gmt":"2026-02-20T13:51:55","guid":{"rendered":"https:\/\/www.retaildetail.be\/?p=142610"},"modified":"2026-02-20T15:15:52","modified_gmt":"2026-02-20T14:15:52","slug":"filet-pur-catch-22","status":"publish","type":"post","link":"https:\/\/www.retaildetail.be\/fr\/news\/food\/filet-pur-catch-22\/","title":{"rendered":"[Filet Pur] Catch 22"},"content":{"rendered":"\n

C\u2019est officiel : l\u2019inventeur autoproclam\u00e9 de l\u2019hypermarch\u00e9 (quod non<\/em>) n\u2019est plus un retailer international. Filet Pur passe \u00e0 la moulinette la strat\u00e9gie ni chair ni poisson du num\u00e9ro deux fran\u00e7ais qui met sa filiale belge dans la panade.  <\/p>\n\n\n\n

Embourb\u00e9<\/h2>\n\n\n\n

La capacit\u00e9 de l\u2019humain \u00e0 nier des faits av\u00e9r\u00e9s est presque infinie. Une nouvelle preuve en a \u00e9t\u00e9 apport\u00e9e lors de la pr\u00e9sentation de ce plan Carrefour<\/strong> 2030 pr\u00e9tendument \u00ab radical \u00bb par un CEO \u2013 pourtant le mieux pay\u00e9 du foodretail europ\u00e9en \u2013 qui s\u2019ent\u00eate \u00e0 refuser de remettre en question le mod\u00e8le d\u00e9sesp\u00e9r\u00e9ment obsol\u00e8te d\u2019hypermarch\u00e9s qui accumulent des pertes depuis huit (8 !) ans en France. Au seul motif que le retailer se consid\u00e8re \u2013 de mani\u00e8re tout \u00e0 fait infond\u00e9e d\u2019ailleurs \u2013 comme l\u2019inventeur de ce concept d\u00e9pass\u00e9 ?<\/p>\n\n\n\n

Pour \u00eatre clair, Einstein n\u2019a jamais dit que refaire la m\u00eame chose encore et encore et s\u2019attendre \u00e0 un r\u00e9sultat diff\u00e9rent est la d\u00e9finition de la folie, mais l\u2019aphorisme s\u2019applique parfaitement \u00e0 la mise \u00e0 jour strat\u00e9gique de mercredi matin qui, fondamentalement, ne renferme qu\u2019un peu plus de la m\u00eame chose : investir encore plus dans le frais, les marques de distributeur, le franchisage les baisses de prix et l\u2019IA<\/a> ? Bonne chance, Monsieur Bompard<\/em> !<\/em> Huit ans que le groupe est embourb\u00e9 dans les m\u00eames probl\u00e8mes, et l\u2019action a imm\u00e9diatement perdu quelques pour cent de plus. Faut le faire<\/em> !<\/em><\/p>\n\n\n\n

Aveu de faiblesse<\/h2>\n\n\n\n

Je crains pour ma part qu\u2019une partie du probl\u00e8me tienne au fait que le directeur est Fran\u00e7ais, et Carrefour est un monument fran\u00e7ais auquel il est interdit de toucher. La d\u00e9cision de vendre les pays exc\u00e9dentaires a pour but de r\u00e9cup\u00e9rer des fonds destin\u00e9s financer des acquisitions qui permettraient d\u2019une part de tenir ces satan\u00e9s Mousquetaires \u00e0 distance et d\u2019autre part r\u00e9cup\u00e9rer la premi\u00e8re place de cet irritant mais tr\u00e8s m\u00e9diag\u00e9nique Michel-Edouard Leclerc.<\/p>\n\n\n\n

S\u00e9rieusement\u00a0? Je demande \u00e0 voir. Lors de mes vacances pass\u00e9es \u00e0 Paris, dans les Pays de la Loire, en Bretagne ou en Provence, les hyper, Market ou City locaux ne m\u2019ont jamais vraiment impressionn\u00e9. Et vous\u00a0? Beaucoup de m\u00e9diocrit\u00e9, une ex\u00e9cution insuffisante. Le fait que le retailer veuille d\u00e9sormais confier ses rayons fruits et l\u00e9gumes \u00e0 un sp\u00e9cialiste externe du frais en dit long. C\u2019est un aveu de faiblesse. Et en passant\u00a0: l\u2019ann\u00e9e derni\u00e8re, ils ont perdu des parts de march\u00e9 en Espagne.<\/p>\n\n\n\n

Dommages collat\u00e9raux<\/h2>\n\n\n\n

Ne nous voilons pas la face : Carrefour n\u2019est pas un retailer international. Et ne l\u2019a jamais \u00e9t\u00e9, d\u2019ailleurs. Nous en avons fait l\u2019exp\u00e9rience pendant plus de vingt ans en Belgique, avec ce cort\u00e8ge de sept CEO expatri\u00e9s qui ne comprenaient rien au march\u00e9 local \u2013 et ne s\u2019en souciaient gu\u00e8re, cette tour d\u2019Evere n\u2019\u00e9tant de toute fa\u00e7on qu\u2019une simple escale dans leur carri\u00e8re. Il n\u2019en a sans doute pas \u00e9t\u00e9 autrement dans les autres pays. Non, c\u2019est une cha\u00eene franco-fran\u00e7aise qui poss\u00e8de quelques r\u00e9sidences secondaires \u00e0 l\u2019\u00e9tranger, dont l\u2019entretien s\u2019av\u00e8re d\u00e9sormais trop co\u00fbteux. Et le fait que ce 102e d\u00e9partement nomm\u00e9 Belgique paie la facture<\/a> n\u2019est qu\u2019un dommage collat\u00e9ral.<\/p>\n\n\n\n

Bompard met ainsi son poulain<\/em> Geoffroy Gersdorff dans une situation p\u00e9rilleuse. Et ce dernier est lui aussi tomb\u00e9 dans le pi\u00e8ge de la r\u00e9p\u00e9tition : \u00ab Carrefour est et reste un acteur indispensable en Belgique \u00bb, l\u2019a-t-on entendu dire, pas pour la premi\u00e8re fois. Mon avis : change de disque, Geoffroy<\/em> !<\/em> Mais cet homme et de son \u00e9quipe m\u00e9ritent un peu de compassion, car ils sont pris au pi\u00e8ge d\u2019un authentique \u00ab catch-22 \u00bb<\/em>, comme on dit, un dilemme presque insoluble (si vous voulez conna\u00eetre l\u2019origine de cette expression, lisez le livre homonyme d\u00e9licieusement d\u00e9cal\u00e9 de Joseph Heller).<\/p>\n\n\n\n

Richement r\u00e9mun\u00e9r\u00e9<\/h2>\n\n\n\n

Car quel est le probl\u00e8me ? S\u2019ils ne parviennent pas \u00e0 am\u00e9liorer substantiellement la rentabilit\u00e9 de Carrefour en Belgique, ils sont assur\u00e9s de se faire jeter sans m\u00e9nagement, un sc\u00e9nario tout sauf attrayant. Mais s\u2019ils parviennent \u00e0 renverser la vapeur et \u00e0 d\u00e9gager d\u2019excellents ? C\u2019est simple : il y aura plus de candidats repreneurs, et Bompard pourra n\u00e9gocier un prix plus \u00e9lev\u00e9<\/a>. Bingo !<\/p>\n\n\n\n

La seule raison pour laquelle la Belgique n\u2019est pas encore vendue contrairement \u00e0 l\u2019Italie et la Roumanie, c\u2019est le march\u00e9 : s\u2019il n\u2019y a pas d\u2019acheteurs, ou leurs offres sont trop basses, il n\u2019y a pas de vente. Comment Zaventem peut-il esp\u00e9rer se sortir de cette situation pour le moins \u00e9pineuse ? \u00c0 premi\u00e8re vue, je ne vois qu\u2019une seule option : gagner du temps. Faire en sorte que les performances s\u2019am\u00e9liorent l\u00e9g\u00e8rement, mais pas au point d\u2019attirer trop l\u2019attention de concurrents ou d\u2019investisseurs. Et esp\u00e9rer que la patience des actionnaires et du conseil d\u2019administration pour ce h\u00e9ros de PowerPoint richement r\u00e9mun\u00e9r\u00e9 en poste \u00e0 Massy s\u2019\u00e9puise vraiment et que son successeur adopte une vision diff\u00e9rente. \u00c9videmment, l\u2019espoir n\u2019est pas une strat\u00e9gie, mais quelle est l\u2019alternative ?<\/p>\n\n\n\n

Attentes r\u00e9duites<\/h2>\n\n\n\n

\u00c0 y regarder de plus pr\u00e8s, il semble d\u2019ailleurs que Carrefour Belgique n\u2019ait pas attendu mon conseil certes gratuit mais qu\u2019ils n\u2019avaient pas demand\u00e9 pour adopter exactement cette tactique : une croissance modeste de 0,8%<\/a> n\u2019est pas catastrophique en soi, mais n\u2019a rien d\u2019extraordinaire non plus. Et cette \u00ab am\u00e9lioration durable de la rentabilit\u00e9 \u00bb ? Nous en sommes r\u00e9duits \u00e0 des hypoth\u00e8ses, mais les attentes sont r\u00e9duites : alors que le retailer affirme \u00eatre sorti du rouge depuis au moins deux ans, la presse financi\u00e8re parvient chaque fois \u00e0 extraire des pertes d\u2019exploitation du brouillard de chiffre qui lui est envoy\u00e9. Dans ces conditions…<\/p>\n\n\n\n

Heureusement, ces m\u00eames hyper proposent cette semaine une promotion 2+1 gratuit pour des r\u00e9f\u00e9rences de C\u00f4te d\u2019Or qui manquent cruellement dans les rayons de Colruyt<\/strong>. En cause, des n\u00e9gociations \u00e9videmment tr\u00e8s constructives<\/a> avec Mondelez<\/strong>, qui pourrait vouloir profiter sans vergogne de la baisse du cours du cacao pour augmenter ses marges. Le hasard existe. Et il n\u2019est pas interdit d\u2019avoir de la chance de temps en temps, n\u2019est-ce pas ? \u00c0 la semaine prochaine !<\/p>\n","protected":false},"excerpt":{"rendered":"

C\u2019est officiel\u00a0: l\u2019inventeur autoproclam\u00e9 de l\u2019hypermarch\u00e9 (quod non) n\u2019est plus un retailer international. Filet Pur passe \u00e0 la moulinette la strat\u00e9gie ni chair ni poisson du num\u00e9ro deux fran\u00e7ais qui met sa filiale belge dans la panade. \u00a0<\/p>\n","protected":false},"author":3,"featured_media":142609,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[],"people":[],"extra":[43],"company":[87,201,251],"topic":[205,386],"region":[],"class_list":["post-142610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-food","extra-plus","company-carrefour","company-colruyt","company-mondelez","topic-filet-pur","topic-fmcg"],"acf":[],"yoast_head":"\n[Filet Pur] Catch 22 - RetailDetail BE<\/title>\n<meta name=\"description\" content=\"L\u2019inventeur autoproclam\u00e9 de l\u2019hypermarch\u00e9 n\u2019est plus un retailer international. 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