FRANCE: Carrefour posts rise in Q3 revenue
French retail giant Carrefour has posted a 4.5% rise in third-quarter revenue, boosted by new store openings and promotion campaigns.
Carrefour, which is the world's second-largest retailer by sales, posted revenue of €19.79bn (US$23.3bn) for the July to September quarter, compared to €18.94bn a year earlier, as strong performances by its discount stores and its Spanish and Asian operations offset weak sales in French hypermarkets, reported Dow Jones News.
Carrefour's French hypermarket sales were affected by the summer heat wave, as food sales rose 1.3% on a like-for-like basis, but non-food sales slid 1.2%, with sales of clothing particularly weak.
The company confirmed its full-year sales target of at least 6% growth before currency effects. Third-quarter sales growth was 5.8% excluding currency fluctuations.
The retailer said revenue for the first nine months of the year was €57.26bn, compared to €55.92bn a year earlier, representing growth of 2.4% in real terms. Carrefour said the increase was 6.2% in constant currency terms, in line with its full-year target.
During the third quarter Carrefour opened 223 new stores, including 13 hypermarkets, bringing its total number of stores to 10,095.
Retailers are expanding ever further, and food manufacturers are becoming more and more multinational. Expansion can bring increased profits, not just through higher sales but also more efficient sour...
Buying power is often used by supermarkets to negotiate with their suppliers to get lower prices. These savings can then be passed onto the consumer in terms of price cuts and promotions. But do consu...
French retail giant Carrefour has denied newspaper claims that it has been holding talks with US titan Wal-Mart....
Carrefour of France is the top foreign retailer in China, measured by sales during the first half of the year, according to a Chinese Ministry of Commerce survey quoted by the Dow Jones news agency....
A judge in Buenos Aires province has imposed an embargo of more than 150m pesos (US$52.4m) on French retailer Carrefour in favour of provincial tax authorities, according to the Dow Jones news agency....
French based supermarket chain Carrefour has announced a rise in sales of 4.1% to €20.4m in the second quarter of 2005....
French supermarket chain plans to buy French low-cost supermarket Penny Market from Germany's Rewe, while selling catering supplies group Prodirest to transGourmet, a joint venture between Rewe and S...
French supermarket Carrefour has acquires 10 hypermarkets in the Sao Paulo area from Sonae, it said today (Thursday)....
- just-food 2017 Survey - your thoughts on growth
- 2017 - what will shape the UK food sector?
- Food market in 2017: need-to-know US trends
- Food market in 2017: big foodservice trends
- Could BRF's Turkey move pave way for OneFoods IPO?
- Ferrero insists Nutella not pulled from shelves
- UK's Bakkavor plays down IPO "speculation"
- PepsiCo launches Walkers Mediterranean in UK
- Mondelez plans "selective" UK price hikes
- US targets increased organic production