Retail giant Carrefour posts sales jump

12th April 2007, Comments 0 comments

PARIS, April 11, 2007 (AFP) - Carrefour, the world's second biggest retailer, said Wednesday that first quarter sales for the 2007 financial year rose by 5.2 percent to 21.478 billion euros (28.8 billion dollars).

PARIS, April 11, 2007 (AFP) - Carrefour, the world's second biggest retailer, said Wednesday that first quarter sales for the 2007 financial year rose by 5.2 percent to 21.478 billion euros (28.8 billion dollars).

Core French sales grew by 1.6 percent to 9.852 billion euros in absolute terms, although on a same-stores basis sales declined by 0.4 percent owing to a deflationary environment in the group's domestic market.

Carrefour said the deflationary impact in the first quarter in France "is one of the strongest seen over the last few years."

The retailer reported stronger growth in international markets however, in particular Latin America where same-store sales soared by 9.6 percent.

In Europe excluding France, sales rose by 2.0 percent, while in Asia, they expanded by 3.0 percent.

The group said same-store growth exceeded 5.0 percent in six countries: Argentina, China, Colombia, Greece and Poland.

In terms of new stores, Carrefour said it had opened 170 outlets in the first quarter, contributing 4.9 percent to sales growth.

The world's biggest retail chain is Wal-Mart.


Copyright AFP

Subject: French news

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