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Carrefour Quarterly Sales Rise 0.4 Percent on Latin America

Carrefour SA, (CA) France’s biggest retailer, said sales in stores open at least a year rose 0.4 percent as persistent pressure in Europe was offset by “good” performance in Latin America and stable sales in Asia.

A 1.3 percent rise in first-quarter sales at like-for-like international operations, excluding currency movements, compensated for a decline of 0.7 percent in France, Boulogne- Billancourt-based Carrefour said today in a statement. Total revenue fell 1.3 percent to 20.8 billion euros ($27.1 billion). Analysts predicted 20.9 billion euros, according to the average of five estimates compiled by Bloomberg.

Carrefour, which in the past year has dispensed with assets in five countries, is investing in its domestic business as it struggles to attract customers in an economic climate that it has said is unlikely to improve in 2013. The company’s goals for this year include improving its price perception, refurbishing outlets and broadening its multichannel offering, Chief Executive Officer Georges Plassat said last month.

“All three formats, hypermarkets, supermarkets and convenience stores, posted a resilient performance in a challenging economic environment and despite unfavorable weather conditions,” Carrefour said in today’s statement of its operations in France.

The shares fell 2.5 percent to 20.63 euros yesterday in Paris trading, trimming this year’s gain to 6.6 percent.

Carrefour restated its figures for 2012 after dispensing with assets in Colombia, Malaysia, Indonesia and Greece.

To contact the reporter on this story: Andrew Roberts in Paris at aroberts36@bloomberg.net

To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net

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