Carrefour revises yearly profits downwards

Despite a slight increase in third-quarter sales, Carrefour has said that its full year profits will fall short of its targets. Overall sales for the third quarter rose by 2.9 percent to EUR20.3 billion. Like-for-like sales were up slightly by 0.6 percent. Sales were flat in France, while in Europe they increased by 5.8 percent. Meanwhile in Asia, sales were up by 9.9 percent and by 2.2 percent in Latin America. The company warned of a sharp deterioration of the market in France and in other European countries.