Carrefour sales slump as it quits several markets
(MENAFN- AFP) French retail giant Carrefour reported on Thursday a slump in its second-quarter sales, largely due to its decision to cease operations in several countries.
Sales for the period ending June reached 20.46 billion euros ($27 billion), down 5.7 percent from the figure a year ago, the firm -- world's second-biggest retailer -- said.
The sharp fall was due mostly to a much higher base of comparison in 2012, when figures included sales from Indonesia, Malaysia, Singapore and Greece -- markets where Carrefour has withdrawn from.
The data also included sales in Turkey, where the retailer is currently renegotiating a partnership contract.
If sales from these countries were not taken into account, the dip in sales reached only 0.6 percent.
The group's financial director Pierre-Jean Sivignon said: "Our performance for the period is solid, given the difficult environment."
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