BREAKING NEWS

Weak third-quarter French hypermarkets performance weighs on Carrefour shares

Weak third-quarter French hypermarkets performance weighs on Carrefour shares
FILE PHOTO: The logo of Carrefour is seen on shopping trolleys at a Carrefour Hypermarket store in Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau/File Photo -
Copyright
Regis Duvignau(Reuters)
Euronews logo
Text size Aa Aa

PARIS (Reuters) – Shares in Carrefour <CARR.PA> fell by some 3% on Wednesday after Europe’s largest retailer posted slower third-quarter sales, reflecting a worsening performance of its ailing hypermarket stores in France.

“The most important engine of the turnaround plan is the French hypermarket. But two years into the plan, hypers had a 3.6% like-for-like decline, the worst since Q2 2012… These sales numbers are not very encouraging,” Bernstein analyst Bruno Monteyne said on Wednesday.

Carrefour said after the market close on Tuesday that third-quarter sales came to 20.2 billion euros ($22.50 billion).

Growth reached 2.3 percent on a like-for-like basis – excluding fuel and calendar effects – against 3.9% in the second quarter.

(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.