Tuesday 16th October 2012, 14:43 London
Carrefour records sales increase
Thanks to improving results in its domestic market, the French retailer saw revenue increase during the third quarter
French retailer Carrefour has recorded a 2.1 per cent rise in third quarter revenue to €22.6bn, a sign that new CEO Georges Plassat's action plan is working, the company stated.
In France, where consumer spending is currently weak, sales increased by 1.2 per cent, while shares were also up, by as much as 5.6 per cent to €16.89.
While French supermarket sales remained unchanged and hypermarket sales fell by 3.3 per cent, convenience store sales grew by 3.1 per cent on a same-store basis, excluding petrol.
Elsewhere in Europe, sales rose 2.1 per cent in Belgium, but fell by 5.4 and 6.6 per cent in Spain and Italy respectively.
Meanwhile, sales in Latin America continued to increase, by 11 per cent in countries excluding Brazil, where sales rose by 9.7 per cent.
However, same-store sales in Asia saw a dip of 3.1 per cent, with sales in China falling by 6.1 per cent.