Carrefour Q3 sales growth accelerates, but China lags

Philippe Huguen | AFP | Getty Images

Carrefour, Europe's largest retailer, reported on Friday an acceleration in third-quarter sales, reflecting an improving performance in Southern Europe, good momentum in France and resilience in Brazil despite a slowing economy.

Sales in China, however, still lagged amid weak consumption.

The world's largest retailer after reported results after Wal-Mart said third-quarter sales were 21.544 billion euros ($24.53 billion), slightly above the average analysts' forecast of 21.5 billion.

Stripping out fuel and currencies, revenue grew 4.2 percent in the quarter, an acceleration from 2.6 percent growth in the second quarter.

Closely watched same-store sales at French hypermarkets rose 0.7 percent after a 0.5 percent increase in the second quarter.

Sales in Brazil, Carrefour's largest market after France, grew 7.4 percent in the quarter, while sales fell 11.2 percent in China.

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