Grupo Carrefour Brasil's 1Q Sales Rose Despite Food Deflation

   By Nathan Allen

Carrefour SA's (CA.FR) Brazilian subsidiary Grupo Carrefour Brasil said Wednesday its first-quarter sales excluding gasoline rose, despite strong deflation in food prices.

Group sales for the quarter, excluding gasoline, rose 6% to 12.29 billion reais ($3.59 billion), the company said. Carrefour didn't provide a comparison figure.

Carrefour said the early Easter, which fell in the first quarter in 2018 compared with the second quarter in 2017, helped offset the deflationary food prices, which have been putting pressure on Brazilian retailers since the second quarter of 2017.

Looking ahead, Carrefour said it plans to open 20 new branches of its Atacadao stores, 20 Express convenience stores and 10 supermarkets in 2018.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

April 11, 2018 04:20 ET (08:20 GMT)

Capgemini (EU:CAP)
Historical Stock Chart
From Dec 2024 to Jan 2025