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Carrefour Q2 sales rise 6.3%


Paris ( July 15, 2010 ) Carrefour SA, the world’s second-largest retailer behind Wal-Mart Stores, said Thursday that its revenue increased 6.3% in the second quarter.

The French retailer credited growth in Latin America and Asia for the strong performance.

Carrefour said that it also gained market share in France, which accounts for 40% of its sales. According to reports, improving the company’s performance in its home country has been a top priority for the new CEO Lars Olofsson, who took the helm last year.

Revenue rose to euro24.92 billion ($31.97 billion) in the three months through June, from euro23.44 billion a year ago.

Sales rose 34% in Carrefour's Latin American stores, and 21% in Asia. French sales edged up 2.7%.

Revenue in Europe, excluding France, fell 2.9% after a significant restructuring program in Belgium, where at least 1,700 workers are being laid off and stores closed.

Carrefour opened or acquired 293 new stores in the quarter.

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