An acceleration in sales during the fourth quarter of 2007 has boosted full-year revenue at French retail giant Carrefour.
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The world’s second-largest retailer today (23 January) posted a 1.8% increase in like-for-like sales to EUR92.3bn (US$134.4bn).
Including the impact of new stores and stripping out the effect of currency fluctuations, Carrefour saw revenue rise 7%.
Carrefour’s fourth quarter saw like-for-like sales climb 4.2% to EUR25.6bn, with sales accelerating in all four of the company’s operating regions.
“The fourth quarter showed the fastest growth of any quarter in 2007 even taking into account a positive calendar effect in France of around 1%,” Carrefour said.
Looking at 2007 as a whole, sales in France – which accounts for 45% of Carrefour’s revenue – inched up 0.3% on a like-for-like basis. The company’s domestic sales received a boost in the last three months of the year as Carrefour passed rising supplier costs through to consumers.
Sales in the rest of Europe rose 1.6% on a same-store basis with rising revenue in Spain offsetting falling sales in Italy and Belgium.
Carrefour’s Latin American business weighed in with a 9.8% increase in sales, thanks to growth across Brazil, Argentina and Colombia.
In Asia, like-for-like sales rose 2.8%, with the fastest growth coming from China, were sales jumped 8%.
