France, China weigh on Carrefour second-quarter sales, Brazil resilient

Dominique Vidalon – Reuters, 7/16/2015

Carrefour (CARR.PA), Europe’s largest retailer, on Thursday reported a slowdown in second-quarter sales reflecting competitive pressure in its top French market and slumping sales in China amid weak consumption.

Sales however picked up in Spain, the group’s third-largest market, and held up well in a slowing Brazilian economy, unlike those of smaller rival Casino (CASP.PA).

Carrefour, which makes 73 percent of its sales in Europe, is seeking to seal a global revival by focusing on price and cost cuts, expansion into smaller convenience stores, while also renovating its core traditional hypermarket network to boost growth despite weak consumer spending.

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