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Carrefour French hypermarkets, China improve in Q2
July 18, 2013 / 5:57 AM / 4 years ago

Carrefour French hypermarkets, China improve in Q2

View of shopping trolleys on a parking lot at the Carrefour hypermarket in Rosny sous Bois, east of Paris, April 30, 2013. REUTERS/Charles Platiau

PARIS (Reuters) - Carrefour (CARR.PA) said on Thursday that sales improved at its core French hypermarkets and in China in the second quarter, further reassuring investors about head Georges Plassat’s ability to revive Europe’s largest retailer.

Growth in Brazil, Carrefour’s largest market after France, slowed in the quarter, however, while trading conditions remained difficult in austerity-hit Western Europe.

Chief Financial Officer Pierre-Jean Sivignon told reporters the market consensus for 2013 earnings before interest and taxes of around 2.2 billion euros ($2.88 billion) was “reasonable”, provided exchange rates in Latin American currencies did not worsen versus the euro.

The world’s largest retailer after Wal-Mart (WMT.N) said second-quarter sales were 20.46 billion euros, near the average 20.47 billion forecast in a Reuters poll of six analysts.

Stripping out fuel and currencies, revenue in France eased 1.3 percent after a 1.4 percent decline in the first quarter.

Closely watched same-store sales at Carrefour’s French hypermarkets fell 1.1 percent after a 2.9 percent decline in the first quarter.

Reporting by Dominique Vidalon; Editing by James Regan

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