Carrefour, Europe's largest retailer, has recorded an increase in full-year sales as good growth in the emerging markets of Latin America and Asia offset tough trading in Europe.
In the 12 month period, sales edged up 1% to EUR86.56bn (US$115.69bn), the group reported today (17 January). Like-for-like sales excluding petrol remained flat. Including petrol, like-for-like sales grew by 1%.
The emerging markets, in particular, performed well, notably Latin America where sales increased by 4.8%. In the retailer's domestic market, sales edged up 0.1% to EUR39.53bn.
It was the European market, however, that posted weaker sales, with revenues down 2.5% for the year to EUR23.67bn due to a drop in consumption in Southern Europe and Poland. Weak like-for-like sales trends in Spain continued as austerity measures continued to impact consumption.
In the fourth quarter, sales were up 0.8% to EUR22.85bn, with like-for-like sales including petrol were up 1.3%.
