French retailer Carrefour Group (0NPH.L, CRRFY.PK, CRERF.PK) posted Group consolidated sales, including VAT, of 20.8 billion euros for the first quarter 2013, up 1.3% at constant exchange rates, and organic growth of 1.9%. The foreign exchange impact in the quarter was a negative 2.6%, due mainly to the significant depreciation of the Brazilian and Argentine currencies.
Sales in France was down 0.7%, with a negative calendar effect of 1.1%, while International sales advanced by 3.0% at constant exchange rates, with an organic growth of 3.5%. Sales in the other European countries reflected the unfavorable consumption environment, with the notable exception of Belgium where sales continued to grow, the company added.
Organic sales in Asia were broadly stable, with a positive calendar effect estimated at 0.8%. Meanwhile, Latin American sales climbed 13.9% at constant exchange rates in Latin America, with organic growth of 14.0%.
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