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Carrefour Q2 sales fall 1.2%

7/16/2009

Paris Sales at Carrefour SA fell 1.2% in the second quarter despite growth in Brazil and China and the launch of a new discount brand at home in France.

Sales totaled 23.44 billion euros ($33.12 billion), from 23.7 billion euros in the first quarter.

CEO Lars Olofsson said the company posted "resilient half-year sales in an environment that shows no signs of improving in the short term."

The company reported small gains -- 0.6% -- in sales in its key home market after the launch of a new budget brand, Carrefour Discount.

Sales in Europe overall were down 5.1%. In Brazil, they rose 6.9%, and in China they rose 29.5%.

The overall sales drop was the company's second quarterly sales decline in six years, after the first quarter this year.

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