Carrefours sales fall worldwide and increase in Brazil
Valor Econômico 04/17/2009
Among the 10 main emerging countries in which Carrefour operates, Brazil and Argentina were the two only markets where sales of the French retailer increased in the first three months of this year compared to the same period of 2008, considering the same base of stores existing in both quarters. The positive performance makes Latin America continue prominent worldwide, being this year's only region in which Carrefour shows increase in sales according to the "same store sales" criterion, main indicator used by the retail.
While there was an increase of 5.1% in income in Latin America, the earnings in France and Europe fell 5% and 5.3%, respectively. In Asia, the fall was even bigger, 6.7%, considering the sales of the stores open for at least a year. In Brazil, according to the "same store sales" criterion, Carrefour registered an increase of 2.3% in the first quarter. Considering all stores, the earnings of the group was 11.7% higher (in Reais). But in Euros, due to devaluation of the Real, the group's earnings fell 3.4%, amounting to 1.922 billion Euros in the first three months. Last week Pão de Açúcar announced that its gross sales, according to the "same stores sales" concept, increased 4.6% in relation to the first quarter of 2008. The retailer came out better than Carrefour.