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Carrefour outdoes forecasts

The French retailer announced stronger first-half results than anticipated, thanks to positive performances in Europe and Latin America

Carrefour outdoes forecasts

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French retail giant Carrefour has reported a positive first-half sales summary for 2015, citing “solid” results in France, a “notable acceleration” in Spain and an “excellent performance” in Latin America, including consolidation of the retailer’s leading position in food retail in Brazil.

Meanwhile, in East Asia, the company is adapting its model in China, it revealed, as it seeks to contend with the tough present trading environment. Taiwan, on the other hand, has seen a return to growth.

Carrefour posted a stronger-than-expected rise in operating profit of 2.6 per cent to €726m at constant exchange rates.

The retailer equally highlighted its sustained investment of €804m to modernise and develop its store network, its continued expansion with the net opening of 316 convenience stores, 83 supermarkets and 14 hypermarkets, the development of its e-commerce business, and the integration of its Dia stores in France.

Looking into the future, Carrefour restated its intention to continue improving its offer and price image, continue developing its convenience store network in Brazil and China, and continue rolling out its click-and-collect and e-commerce systems. 

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