Carrefour Q1 Sales Gain 6.2%

PARIS — Carrefour SA reported sales advanced 6.2 percent in the first quarter on the back of favorable currency translations that were tempered by a negative impact from gas prices. The world’s second largest retailer behind Wal-Mart Stores Inc. registered total sales including petrol of 21 billion euros, or $23.7 billion at average exchange, in the three months ended March 31. Its domestic sales in the quarter rose 3.6 percent to 9.6 billion euros, or $10.8 billion. On a like-for-like basis, revenues in France were up 2.5 percent, driven by convenience and other formats, while hyper and supermarkets were down, hurt by petrol prices. The retailer’s international markets grew 8.4 percent, with Latin America emerging as its strongest performer in Q1. Here, revenues were up 18.7 percent to 5.1 billion euros, or $5.8 billion, buoyed by favorable currency rates and strong growth in Brazil and Argentina across all formats. The group said other European countries were recovering at a 2.2 percent rate, including Spain and Italy. Revenues in Asia increased 6.6 percent amid a persistently frugal consumption environment in China, where organic sales were down 13 percent. Carrefour said it initiated an “action plan” in the region to improve sales.

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