French retail giant Carrefour has posted a smaller-than-expected rise in quarterly revenue, hit by weak sales at its core French hypermarkets.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company reported revenue of €18.85bn (US$22.9bn) for the January to March first quarter, compared to €18.28bn in the year-ago period. Analysts had expected revenue of €19.03bn, reported Dow Jones International News.
Revenue from French operations slid 1.1% to €9.30bn. Carrefour said the lower French revenue was due to increased competition from discount retailers, as well as cut-price sales promotions. Revenue from the company’s French hypermarket operations fell 3.7% to €4.80bn.
Carrefour backed its forecast of 6% revenue growth in 2004 on a constant currency basis, and a double-digit increase in earnings per share.
Carrefour said it now has 10,467 outlets worldwide, compared to 10,378 at the end of 2003.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
