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Carrefour’s 4th Quarter Disappoints, Thanks In Part To Paris Terrorist Attacks

January 15, 2016: 12:00 AM EST
French retailer Carrefour reported sluggish fourth quarter sales, except in Brazil, its biggest market after France. The company said slow sales were due to the November terrorist attacks in Paris and unusually warm weather in the home country. Fourth-quarter sales were $24.41 billion, slightly higher than average analyst forecasts. Ignoring fuel, currency and calendar effects, revenue grew 2.4 percent from a year ago, but was down from 4.2 percent growth in the third quarter. Even with the quarterly slowdown, the company posted its fourth consecutive year of rising sales. Sales in Latin America were up 11.7 percent. Sales in Brazil were up 12.6 percent. In Asia, sales were down 9.5 percent, and in China down 15.7 percent. Analysts said the company is revamping its hypermarket strategy, as consumers switch to local and online shopping.
"2015 Sales: +3% Organic Growth Fourth Consecutive Year Of Organic Sales Growth", News release, Carrefour, January 15, 2016, © Carrefour
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