Carrefour in profit boost after savings

first_img whatsapp Share KCS-content THE WORLD’S second biggest retailer Carrefour said yesterday that the summer sales trend was mixed in Europe but demand was holding up in emerging markets with an annual operating profit in its sights.Tight cost control and a surge in emerging markets lifted first-half operating profit by 7.6 per cent to €82m (£67.8m) while the French company was making headway on its plan to revamp its hypermarkets in Europe to boost lagging sales.Carrefour has launched a three-year overhaul plan at delivering €4.5bn of savings. Chief executive Lars Olofsson said in a statement: “Our transformation plan is delivering planned results and makes us confident of achieving our 2010 objectives.” The cautious comments, plus news of an unexpected €69m one-off charge in Brazil, where Carrefour also faces weak hypermarket sales, has kept the shares under pressure. Execution Noble analyst Caroline Gulliver said: “Although figures were in line with expectations, comments from the chief financial officer about the European summer sales took the shine off and it looks as though whilst the French business may be improving, some of Carrefour’s other key markets are deteriorating.” Carrefour, behind only US group Wal-Mart in sales, confirmed that it expected an underlying operating profit of around €3.1bn for the full year, having achieved €1.096bn in the first-half. Carrefour in profit boost after savings whatsappcenter_img Tuesday 31 August 2010 8:46 pm Tags: NULL Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFlorida woman allegedly crashes children’s birthday party, rapes‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldlast_img