Latin America was the best-performing market for Carrefour last year, with good growth in Brazil, Argentina and Colombia.
BY CHRONICLE STAFF
Latin America is the best-performing market for France-based Carrefour, the world's second-largest retailer after Wal-Mart. Last year, the company boosted Latin America sales by 14.6 percent to 13.4 billion euros (US$19.3 billion).
That was the best performance of any market worldwide and helped offset declines in France and Europe. “Expansion in the region was again brisk, contributing 7.7 percent to growth,” Carrefour said in a statement today.
The fourth quarter was also strong for Carrefour in Latin America, with sales reaching 3.9 billion euros, an increase of 12.6 percent.
Brazil, Carrefour’s top market in Latin America, saw sales grow 14 percent last year to 9.3 billion euros. In the fourth quarter, sales grew by 13.4 percent to 2.8 billion euros.
“All store formats continued to deliver growth in the country, especially Atacadao, which recorded a 10% increase like-for-like,” Carrefour said.
Argentina, its second-largest market in the region, grew even more last year – 17.3 percent to 2.8 billion. In the fourth quarter sales increased 11.3 percent to 724 million euro.
“In Argentina, sales growth slowed down compared to the first nine months, mainly due to lower inflation,” Carrefour said. “All store formats contributed to delivering like-for-like sales growth and especially hard discount.”
Colombia also was a good market last year. Total sales grew 13.5 percent to 1.3 billion euros. Fourth quarter growth was 11.5 percent to 508 million euros.
“In Colombia, the difficult economic environment continued to impact like-for-like sales (-1.2 percent), but store openings and the integration of three Mercadefam hypermarkets boosted growth at constant exchange rates,” Carrefour said.
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