Shares in Europe’s largest retailer fell 4 percent on Friday after it posted weak French hypermarkets sales and pointed to problems in Brazil, raising concerns over the execution of its turnaround plan.
Carrefour shares fall on doubts
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Carrefour is the world’s largest retailer.
Sales have not been good recently.
Carrefour’s forecast figures for 2010 have been reduced.
Underlying operating profit is now judged to be 3.6 billion Euros.
The reason for the change rests with Carrefour’s business in Brazil.
Carrefour is also concerned about weak sales in Europe.
European hypermarkets have recently undergone a revamp.
