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.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.