Carrefour sales slump after pull-out from several markets

18th July 2013, Comments 0 comments

French retail giant Carrefour reported on Thursday a slump in its second-quarter sales, largely due to its decision to cease operations in several countries.

Sales for the period ending June reached 20.46 billion euros ($27 billion), down 5.7 percent from the figure a year ago, the firm -- world's second-biggest retailer -- said.

The sharp fall was due mostly to a much higher base of comparison in 2012, when figures included sales from Indonesia, Malaysia, Singapore and Greece -- markets where Carrefour has withdrawn from.

The data also included sales in Turkey, where the retailer is currently renegotiating a partnership contract.

If sales from these countries were not taken into account, the dip in sales reached only 0.6 percent.

The group's financial director Pierre-Jean Sivignon said: "Our performance for the period is solid, given the difficult environment."

© 2013 AFP

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