French retailer Carrefour has posted 'encouraging' results for the first quarter, with sales reaching €24bn, an increase of 5.5 per cent at current exchange rates.
According to the results, sharp gains in market share were made in France, driven by the Carrefour Market banner, while faster growth was achieved in emerging markets such as China and Latin America.
Like-for-like sales were up 4.5 per cent in China, and an impressive 10.1 per cent in Latin America.
CEO Lars Olofsson commented: 'Our quarterly sales grew on a like-for-like basis for the first time in 18 months in spite of an environment that remains challenging. This performance reflects the heightened attractiveness of the Carrefour brand, our strengthened commercial dynamics and the acceleration of growth in emerging markets, notably in Latin America and China. We are moving forward with determination to implement our transformation plan to better serve our clients and achieve profitable growth.'
