Related News
Carrefour 2008 net profit down 45 percent
CARREFOUR SA, the world's No. 2 retailer, said today net profit slid 45 percent as the company was forced to cut prices in its French home market where the crisis knocked consumer confidence.
Carrefour, second only to US-based Wal-Mart Stores Inc. among the world's biggest retailers, said 2008 net profit fell to US$1.62 billion from US$2.94 billion a year earlier.
Sales rose 5.9 percent - or 6.4 percent at constant exchange rates - to US$111.2 billion.
What Carrefour calls activity contribution, or operating profit, rose 0.3 percent to US$4.22 billion.
The results are in line with a revised December forecast of a 6.5 percent growth in sales at constant exchange rates and a slight growth in operating profit.
Before then, Carrefour had been promising to deliver operating profit growth "in line" with its sales, which rose 5.7 percent last year.
Looking ahead, chief financial officer Eric Reiss said in a conference call: "We expect the situation to remain difficult in 2009."
The company didn't give an earnings forecast.
"In a trading environment that remains challenging, we will focus on boosting our sales dynamics while improving our organization and reducing our costs," the company's new CEO Lars Olofsson said in a statement.
France accounts for about 40 percent of Carrefour's sales. It operates a total of 5,517 stores here, including hypermarkets, supermarkets, hard discount stores and convenience shops.
Carrefour, second only to US-based Wal-Mart Stores Inc. among the world's biggest retailers, said 2008 net profit fell to US$1.62 billion from US$2.94 billion a year earlier.
Sales rose 5.9 percent - or 6.4 percent at constant exchange rates - to US$111.2 billion.
What Carrefour calls activity contribution, or operating profit, rose 0.3 percent to US$4.22 billion.
The results are in line with a revised December forecast of a 6.5 percent growth in sales at constant exchange rates and a slight growth in operating profit.
Before then, Carrefour had been promising to deliver operating profit growth "in line" with its sales, which rose 5.7 percent last year.
Looking ahead, chief financial officer Eric Reiss said in a conference call: "We expect the situation to remain difficult in 2009."
The company didn't give an earnings forecast.
"In a trading environment that remains challenging, we will focus on boosting our sales dynamics while improving our organization and reducing our costs," the company's new CEO Lars Olofsson said in a statement.
France accounts for about 40 percent of Carrefour's sales. It operates a total of 5,517 stores here, including hypermarkets, supermarkets, hard discount stores and convenience shops.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.