Carrefour Q3 sales slow with weak France, keeps goals

Carrefour, Europe’s largest retailer, said on Tuesday that sales growth slowed in the third quarter, reflecting a weaker performance in its core French market where fewer promotional periods notably hit hypermarket sales. Carrefour nevertheless said that it was on track with a strategic overhaul plan aimed at boosting earnings and sales and that it was sticking with its targets under the plan. Carrefour is in the midst of a five-year plan to cut costs, boost e-commerce investment and step up its focus on organic food and convenience stores to tackle competition from the likes of unlisted rival Leclerc and Amazon.