French retail giant Carrefour reports sales hike

15th July 2010, Comments 0 comments

French retail giant Carrefour on Thursday said first half sales rose 5.9 percent, compared to the same period last year, as it announced the acquisition of a stake in a Chinese retail chain.

Sales in the January-June period came to 48.9 billion euros (63 billion dollars).

Carrefour also said it had acquired 51 percent of Baolongcang, a leading supermarket chain active in the Hebei region near Beijing.

"This acquisition is consistent with Carrefour's strategy of strengthening its presence in markets that are showing growth," the company said in a statement.

Carrefour, the world's second largest retailer, has been operating in China since 1995.

The company said that it had noted "encouraging signs" for the sector in France.

But it added that sales had fallen 8.6 percent in Belgium, affected by a restructuring of its activities there.

© 2010 AFP

0 Comments To This Article