Carrefour Sales Grow Despite Weaker Performance in France

By Alberto DelclauxFeaturesDow Jones Newswires

Carrefour SA (CA.FR) said Wednesday that its sales increased in the third quarter, pushed by its international business.

Sales for the period rose by 0.4% to 21.86 billion euros (25.72$ billion), compared with analyst expectations of EUR21.8 billion provided by the company.

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Sales in France fell by 1.3% to EUR10.04 billion, due to heightened competitive pressure, deflation in fruit and vegetable prices and a later starting date of the Carrefour Anniversary promotional campaign this year, the company said.

Supermarkets in France were the worst performers, with a 3% fall in sales.

Internationally, group sales increased by 1.8%, a result negatively affected by currency effects in Latin America. At constant exchange rates, international third-quarter sales growth hit 4.6%.

Carrefour confirmed sales growth guidance of between 2% and 4% for 2017.

Write to alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

October 18, 2017 13:18 ET (17:18 GMT)