French retailing giant Carrefour has opened its first outlet in Sao Pãulo, Brazil. The 2,600m² supermarket store, under the Champion banner, is the result of a R$7.5m (US$2.9m) investment by Carrefour. Its recently released financial report revealed that first quarter profits at Carrefour had increased by 6% year on year. Net profit had reached US$290.6m on sales revenue of US$20.16bn, up 9% year on year.