Carrefour with a sharp drop in revenues from the major European markets
The European largest chain retailer Carrefour awaken the fears of investors with declining revenues. In the fourth quarter they decreased by 0.8% to 24.15 million EUR, announced today the company itself. The analysts surveyed by Reuters had expected revenue to amount to about 24.32 billion EUR. The strong decreases in revenue are recorded on a native French market as well as in Italy and Spain, while in Latin America revenues increased for the fourth consecutive quarter. Because of the debt crisis in Europe and the related reluctance to shop rival Metro expects that over the past year will perform in the best case scenario of their pessimistic expectations. In October, the second concern in the industry after the U.S. chain Wal-Mart forecast a decline in operating profit between 15 and 20%. The Frenchmen said that because of strong competition in Europe will reconsider carefully planned by-country opening of large stores. Carrefour has more than 9500 stores in 32 countries and in Bulgaria, the chain has six sites. The bad news for the company that is likely to increase pressure on Chief Executive Lars Olofson. And now he was seen as temporary chairman of the supervisory board.
Carrefour with 82 million USD profit for the half year
The French retail chain retail Carrefour has issued a profit in the first half of 2010. This is mainly due to the good performance of emerging markets, which offsets the negative effects seen in Western Europe. Of Carrefour profit was 82 million after the first six months of last year was reported a loss of 58 million. Do sales increased by 5.9 percent to 48.9 billion EUR, reported Wall Street Journal. Operating profit for the first half was 1.1 billion following last year were achieved 1.02 billion. Preliminary expectations were for an operating profit of 1.05 billion. This allows the company, which is the second largest chain of retail sales in the world after the American Wal-Mart, to confirm its forecasts for operating profit in 2010. It is a positive result of 3.1 billion. Over the last six months of Carrefour shares have increased by 1,5 per cent of the exchange in Paris. This presentation is much better than the presentation of the overall market as the main CAC 40 index lost 7.5 per cent for the period.
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