Carrefour warns on 2011 profit again

Markets Reuters

PARIS (Reuters) - Carrefour <CARR.PA>, Europe's No.1 retailer, issued a fresh profit warning on Thursday, citing an increasingly challenging economic climate.

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The French group said it now expected 2011 operating profit to drop by between 15 percent and 20 percent against a previous forecast of a 15 percent decline.

The world's second-biggest retailer by sales after U.S. group Wal-Mart <WMT.N> made the prediction after it eked out a 0.3 percent gain in third-quarter sales to 22.8 billion euros ($31 billion) as robust growth in emerging markets barely offset weak sales in France and western Europe.

Quarterly sales were broadly in line with a forecast of 22.74 billion euros in a Reuters poll of 12 analysts.

($1 = 0.725 Euros)

(Reporting by Dominique Vidalon; Editing by James Regan)

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