French retailer Carrefour has reported a slight growth in sales for the full year, thanks to its performance in emerging markets.
Sales rose by 0.5 per cent to reach €91.5bn, despite an overall drop in the fourth quarter of 0.8 per cent due to the deteriorating economic environment.
However, according to Carrefour, the current environment has mostly affected non-food items, with food revenues generally remaining resilient.
Sales in Latin America rose by 6.8 per cent, driven by Brazil, while Asian sales increased by 2.8 per cent due to expansion in China, growth in Indonesia and the continued recovery in Taiwan.
The retailer is reportedly continuing its rollout plan, which has seen 81 stores converted to the Carrefour Planet fascia in 2011, while its 2012 rollout will be reviewed country by country.
Chairman and CEO Lars Olofsson commented: 'In the current challenging environment, Carrefour is focusing its efforts on executing its action plan in France and southern Europe, aiming at consistent lower prices and more targeted promotions. At the same time, while increasing its focus on cash and cost efficiency, Carrefour will continue rolling out its multi-channel strategy, broadening its Carrefour-branded product offer and expanding in emerging markets.'
