Carrefour sales rise 2.1 percent to $29 billion


PARIS -- Big box retailer Carrefour SA says revenue was up modestly in third quarter, driven by strong sales in its convenience stores and booming regions like Asia and Latin America.

The world's second-largest retailer after Wal-Mart said Thursday that sales rose 2.1 percent to (EURO)22.6 billion ($29 billion) in the July to September quarter.

Recessions in Spain and Italy weighed on the company's performance in Europe, where sales slipped 2.2 percent.

But Asia and Latin America picked up the slack, growing 12.3 percent and 5.2 percent respectively.

Carrefour recently appointed a new CEO who is trying to turn around the company, particularly its core hypermarket business. Sales at hypermarkets are down 2.4 percent so far this year. In contrast, its smaller stores have grown 6.6 percent.