Carrefour, the world’s second-largest retailer, today (15 July) reported a fall in like-for-like sales, excluding fuel, for the second quarter of 2010.
The company booked a 1.1% decrease in like-for-like sales, excluding petrol, for the three months to the end of June, compared to growth of 0.3% in the three months to the end of March.
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The result meant Carrefour’s first-half like-for-like sales decreased 0.4%, excluding fuel.
Like-for-like sales in France fell during the second quarter, but sales at the retailer’s Carrefour Market banner rose.
Like-for-like sales at Carrefour’s hypermarkets fell 1%, excluding fuel, during the quarter but compared positively against a 2.9% drop in the first quarter of the year.
Sales from Carrefour’s three other European markets fell during the second quarter. Like-for-like sales tumbled 5.8%, excluding petrol, due to the economic problems in Spain and Carrefour’s moves to restructure its business in Belgium.
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By GlobalDataIn Latin America, Carrefour’s like-for-like sales rose 6.5%, excluding petrol. In Asia, where Carrefour has expanded its presence with the acquisition of a majority stake in a Chinese retailer, like-for-likes inched up 1.9%.
Carrefour’s group turnover, including VAT, increased 4.6% to EUR24.92bn (US$32.14bn), boosted by the impact of foreign exchange. At constant exchange rates, turnover increased 2.2%.
CEO Lars Olofsson said: “In a contrasted environment, we posted solid sales in the first half, with continued market-share gains in France, strong growth in Latin America and faster growth in Asia.”
