Carrefour sees slim sales growth in 2012

AP News
Posted: Jan 17, 2013 2:35 AM

PARIS (AP) — French retailer Carrefour SA says it eked out sales growth in the fourth quarter, boosting its annual results as it looks to Latin America amid sinking sales in Europe.

The company — Europe's largest retailer by sales — said in a statement Thursday that sales in the quarter were up 0.8 percent to €22.9 billion ($30.4 billion). It says sales for all of 2012 were up 1 percent to €86.6 billion.

Sales in Europe were down all year, with big drops in Spain and Italy. Sales in Latin America were up nearly 5 percent for the fourth quarter.

The company also noted a continuing fall in sales in its superstores, but growth in its smaller convenience stores.

Carrefour has been hit hard by economic crisis, especially in Europe.