News Summary: Carrefour shows 2013 growth

AP News
Posted: Jan 16, 2014 12:44 PM

TURNAROUND STORY: Big-box retailer Carrefour posted solid gains in 2013, as sales grew in Latin America and Asia, rebounded in Spain and France — two of its biggest markets — and a turnaround plan took firm hold in the fourth quarter of the year.

THE NUMBERS: Europe's largest retailer said Thursday its full-year sales were 84.3 billion euros ($114.8 billion), an increase of 2.5 percent, according to adjusted figures accounting for asset sales and cuts to debt. In a by-the-numbers comparison with 2012, growth fell 1.2 percent.

FIXING PROBLEMS: During 2013, the company closed stores or transferred operations in faltering markets, with CEO Georges Plassat promising to refocus in areas where it could be a leader.