Europe’s largest retailer Carrefour reported a small increase in its fourth-quarter turnover helped by a sales increase in Latin America of 20% and growth in its smaller supermarkets.
Sales at smaller supermarkets improved 4.1%, helped by the conversion of Champion stores into Carrefour Market outlets. However, sales at hypermarkets, which account for roughly 23% of group sales and more than half of French sales declined by 2.7%. Carrefour is reorganizing the space at its biggest shops. The French retailer has also stepped up the opening of smaller venues in Europe.