French retail giant Carrefour has posted rising first-quarter sales thanks to a turnaround in Spain and continued strong growth in Latin America.
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Carrefour saw sales revenue rise by 6.5% to EUR21.5bn (US$28.9bn) for the three months to the end of March. Sales in Spain rose by almost 5%, the company said yesterday (11 April). Turnover from Carrefour’s European business, excluding France, rose 7.5% to EUR8.1bn.
In France, revenue inched up 1.6%, despite what Carrefour termed as “deflationary environment” in the French food sector.
In Latin America, turnover jumped almost 10% to EUR1.8bn thanks notably to robust growth in Argentina.
Carrefour saw revenues in Asia rise by 3% as continuing difficulties in Taiwan offset rising sales in China.
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By GlobalData
