PARIS: French supermarket retailer Carrefour reported higher first-quarter revenue, slightly above the consensus market forecast, and maintained its full-year sales growth outlook.
Carrefour, the world’s second-biggest retailer after Wal-Mart Stores Inc, said first-quarter sales had risen 6.2 percent at current exchange rates to 21.3 billion euros (£18.1 billion), boosted by a strong performance in Brazil.
The consensus sales forecast, according to a poll for Reuters compiled by Inquiry Financial, stood at 21.2 billion euros.
Carrefour said it was sticking to its target for full-year 2017 sales growth of between 3 and 5 percent, at constant exchange rates.
Carrefour said its Brazilian business, for which the company is considering a stock market flotation this year along with its Carmila property business, had been boosted by progress at the Atacadao stores chain.
Turnover in Brazil rose 37.6 percent, but Carrefour’s main French business has been consistently weaker, where first-quarter turnover edged up 0.8 percent.
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