Carrefour SA’s fourth-quarter revenue rose 7.1% to EUR23.3bn (US$28bn) as the supermarket group termed 2005 a ‘turnaround year’ for the company.
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The world’s second-largest retailer said the quarter’s revenue brought full-year sales to EUR83.7bn, up 6.1% from EUR78.9bn in 2004.
Sales grew 4% in the fourth quarter period ending 31 December 2005, with growth strong in Latin America and Asia, at 11.9% and 13.7% respectively. In total 1,394 Carrefour stores were opened last year, 387 during the fourth quarter period.
The company’s outlook said it is ‘poised to deliver faster sales growth in 2006’ taking into account further like-for-like sales growth and the contribution of ‘tactical acquisitions’.
In 2005, Carrefour replaced its CEO as part of an effort to recapture market share in core markets such as France, after facing stiff competition from hard-discount retailers.
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By GlobalDataThe company said in a statement: “We now have a new management and corporate governance structure better suited to the needs of the business. Old taboos have been abandoned, enabling us to upgrade and strengthen our portfolio of assets.”
