FRANCE: Spain cheers Carrefour franchisee
By just-food.com | 17 April 2008
Guyenne et Gascogne, the France-based retailer, has seen quarterly sales rise 6.2%, thanks to growth from the Carrefour supermarkets it runs under licence in Spain.
The company booked first-quarter revenue of EUR129.6m (US$206m) for the three months to the end of March.
Sales from the Carrefour supermarkets in Spain jumped 14.4%, while revenue from the hypermarkets in the country rose 4.4%.
Fears in Spain over the country's property crisis and household debt have yet to affect the Guyenne et Gascogne business, the company said.
Sogara, Guyenne et Gascogne's French division, saw sales inch up 1.5%.
In France, food sales were on the up despite fears over inflation, the company added.
Sectors: Retail
Companies: Carrefour, Guyenne et Gascogne
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