Company confident will meet 2010 objectives
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Carrefour SA (Paris) reports first half sales grew 5.9 percent to $65 billion. The world’s second-largest retailer behind Wal-Mart Stores Inc. also returned to black as first-half net profits rose to $109.1 million, versus a loss of $77.2 million a year ago.
The company cited “significant” market share gains in France, with a stabilization of the firm’s hypermarket business, as driving the improvement reports Women’s Wear Daily.
“Even if the environment in which we operate remains challenging, our strong first-half results put us perfectly on track to achieve our 2010 objectives,” ceo Lars Olofsson said during the presentation of the results this week. “Carrefour’s renewal is under way.”
The company says strong sales in France and Asia offset continued weakness in the rest of Europe. Business in Latin America was impacted by weak performance in hypermarkets, notably in Brazil.
For 2010, the company plans to open 1250 stores.
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