Carrefour, France’s largest retailer, reported fourth-quarter sales that met analysts’ estimates as revenue grew in all formats in its domestic market.
Total French sales rose 2.2 per cent on a like-for-like basis, excluding petrol, driven by growth at the company’s convenience store formats, the company said in a statement today. Total revenue fell 1.5 per cent to €22.2 billion, in line with the average of four analysts’ estimates.
Carrefour is midway through a three-year turnaround plan, which includes investing in France after retrenching from other markets where it viewed its prospects as weak. The retailer last month joined a group of institutional investors to buy 127 European shopping malls in a €2bn transaction, giving it more control of the sites around its domestic hypermarkets, its largest stores.
Currency fluctuations had a negative 3.8 per cent effect on fourth-quarter sales, Carrefour said. The grocer is comfortable with analysts’ estimates for full-year recurring operating income of €2.19bn, it said.
Carrefour’s domestic strategy includes maintaining low prices on food, stocking more non-branded goods on shelves and adding so-called drives, or pick-up points for online orders. Earnings in France jumped 75 per cent in the first half of 2013, while domestic hypermarket sales rose for the first time in more than two years in the third quarter on a same-store basis.
Disclaimer
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Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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Company%20Profile
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Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
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Friday, November 1 – Oman v UAE
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Thursday, November 7 – UAE v Oman
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Everton 1 Stoke City 0
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