Carrefour Reports Modest Q1 Sales Rise, As Asia Drags On Performance

Source: Groupe Carrefour, Thursday, Apr 12, 2018

Carrefour has reported mixed results in its first quarter, as it continued to drive its digital transformation. Sales growth stalled to 0.4% on a like-for-like basis, slightly below expectations. In France, where Carrefour makes 47% of its sales, like-for-like revenue fell by 0.1%, compared with 1.5% growth in the Q4 2017. This was dragged down by the underperforming hypermarket segment, where like-for-likes excluding petrol fell 2.3% during the quarter.