Skip navigation Scroll to top

Scroll to top

Carrefour posts slightly higher sales

April 13, 2012

Carrefour (market close: +0.6%) recorded slightly higher Q1 sales of €22.5 bn (+1.5% y-o-y at constant exchange rates, Bloomberg analyst consensus: €22.6 bn), supported by continued growth in emerging markets.

The French retail giant said Southern Europe’s performance had continued to be impacted by lower non-food spending (like-for-like sales excl. gasoline and currency effects declined 3.8%), but this was largely offset by strong operations in Latin America (+8.6%), particularly in Brazil. “The trends we observed this quarter and the persistently difficult trading environment confirm our determination to pursue the execution of our Reset plan in France, focus on cash and cost efficiency, further extend our Carrefour-branded product offer and continue expanding in emerging markets,” CEO Lars Olofsson stated.