FRANCE: Carrefour sales growth meets estimates as Europe accelerates | Progresiv
France’s largest retailer Carrefour reported further gains in revenue during the third quarter amid growth in its home market and an acceleration in Europe. 
Revenue rose 2.2 per cent to 21.5 billion euros, Boulogne-Billancourt, France-based Carrefour said before European markets opened. That matched the median of 17 estimates compiled by Bloomberg, as did sales in France, which rose 2.3 per cent to 10.3 billion euros.
The retailer had a strong quarter in Europe, boosted by gains in Spain, Italy, Belgium and Romania. Carrefour has staged a revival in the region by modernizing stores and adding collection points for online orders even as rivals such as Casino Guichard-Perrachon SA step up efforts to win customers. Sales fell in Asia amid weak consumption in China, though growth remained strong in Latin America.
“Europe has now become a growth engine for Carrefour,” chief financial officer Pierre-Jean Sivignon said on a call to reporters.
Carrefour is comfortable with the 2.45 billion euros consensus of analysts’ estimates for full-year recurring operating income, the CFO said. The consensus range was 2.51 billion euros to 2.53 billion euros in July. Sivignon attributed the reduction to currencies. (www.esmmagazine.com)
