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Carrefour Turnaround Continues In Q3

French retailer Carrefour continues to see a turnaround in its performance, as its third quarter sales saw a rise of 1.9%.

In France, where sales account for about half of the group's revenue, lower prices and refurbished outlets are helping Carrefour stage a revival. Like-for-like sales at its French stores increased 3.3% between July and the end of September compared with the same period a year earlier to €10.15 billion.

French sales account for about half of the group’s global revenue.

A stronger performance in France is also compensating for weakness in regions including Latin America, where adverse currency movements have held Carrefour back.

CEO Georges Plassat has pledged to give more control to French store managers and maintain low prices on food, as well as expand the network of 'Drive' outlets the retailer operates.

© 2013 - Checkout Magazine by Stephen Wynne-Jones

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