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Carrefour sees slight drop in sales

July 18, 2013

PARIS (AP) — Global retailer Carrefour SA says rising sales in Latin America and Asia helped offset shrinking revenue in Europe in the second quarter.

The French-based company reported quarterly sales of 20.46 billion euros, down 0.6 percent at current exchange rates from 21.7 billion euros in the same period a year ago.

Carrefour said in a statement it had 41 billion euros in sales for the first half of this year, compared to 43.7 billion in 2012.

The world’s second-largest retailer by revenue after Wal-Mart Stores Inc., Carrefour has been struggling to turn around its core hypermarket business.

Carrefour blamed weak performance in Europe on bad weather and Europe’s “economic environment,” with France and many countries back in recession. It reported strong sales growth in Latin America, particularly Argentina and Brazil.

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