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Carrefour Posts Solid Fiscal 2016 Financial Performance

March 9, 2017: 12:00 AM EST
Despite continued softness in the French market, retailer Carrefour SA posted full-year earnings of $1.01 billion, close to the $1.15 billion that Wall Street analysts had expected. Full-year net sales were $80.7 billion, 2.7 percent higher than last year. The company did not change its full-year dividend. The group had said earlier this year that fourth quarter sales were 3.9 percent higher at $24.9 billion. Operating profits in France, which represents about 25 percent of its total profit, fell 13.4 percent to $1.1 billion. The company said performance in the food sector was good in all countries; sales growth was “excellent” in Brazil and “continued positive momentum” in Europe, “reflecting the relevance of the predominantly food-based multiformat model.” [ Image credit: © Carrefour ]
"Carrefour 2016 Full-Year Results", Earnings release, Carrefour, March 09, 2017, © Carrefour
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