Carrefour's Q1 Sales Growth Slows, With France A Weak Spot
Carrefour's sales growth slowed in the first quarter amid continued weakness in its core French market, reminding investors that the road to recovery for the supermarket retailer would be long.
Carrefour, which is Europe's largest retailer, said that sales at its French hypermarkets turned negative again, amid bad weather conditions, further stiff competition from traditional and online rivals, and strikes during the Easter holiday.
First-quarter sales reached €20.776 billion – slightly below the median analysts' estimates for sales of €20.869 billion, in a poll for Reuters compiled by Inquiry Financial.
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!