French retail giant Carrefour has announced an increase in sales for the first half of the year of 2.3 per cent to €39.6bn.
The improvement has been attributed to success in the retailer's growth markets, notably in Brazil, China and Taiwan.
However, current operating income is reportedly down by 22 per cent to €772m, predominately due to underperformance in France, Greece and Italy.
The retailer now anticipates a 15 per cent drop in current operating income for 2011 compared with last year, having previously predicted an increase.
The retailer also revealed that it would be continuing with the rollout of its Carrefour Planet concept in Europe, while focusing on growth in both Latin America and China.
Chairman and CEO Lars Olofsson commented: 'Going forward, while pursuing our Transformation Plan, we are implementing a new game plan, deploying a new commercial strategy in France to regain competitiveness and traffic in our hypermarkets and adapting to an increasingly challenging economic environment.'
No comments yet