Latin America helps Carrefour sales soar to €21.3bn

French supermarket retail giant Carrefour said its sales rose 6.2% to €21.3bn in the first quarter of 2017 as its international operations boosted performance.

Carrefour also said it benefited from a favorable currency effect of +3.9% due to the appreciation of the Brazilian Real.

“Sales in international activities were up +10.9% in the first quarter of 2017 … ” said Carrefour.

“In Latin America, like-for-like sales were up +7.8% (+11.7% on an organic basis), a solid performance. The currency effect was +22.1%.”

Carrefour said that in Brazil, the roll-out of its “multiformat model” continued to bear fruit.

“In this context, Carrefour posted a good performance (in Brazil), with like-for-like sales up +5.6% (+10.5% on an organic basis).

“Carrefour’s success in the country reflects the continued progression of Atacadão and hypermarkets as well as further openings of convenience stores under the Express banner.

“Like-for-like sales in Argentina were up +14.6% in a difficult economic environment.”