UPDATE 2-Strong Brazil, improving France lift Carrefour Q3 sales growth

miércoles 19 de octubre de 2016 06:06 GYT
 

* Q3 group sales 21.78 bln euros vs Rtrs poll 21.71 bln

* French Q3 like-for-like sales up 1.2 pct vs 0.9 pct Q2 drop

* CFO says 2016 EBIT consensus of 2.45 bln euros "achievable" (Recasts with CFO comments to analysts, shares, analysts)

By Dominique Vidalon

PARIS, Oct 19 (Reuters) - Strong sales in Brazil and an improving performance in its biggest market, France, lifted third-quarter sales at the world's second-biggest retailer Carrefour, as its turnaround strategy gained traction.

In China, where Carrefour is restructuring its operations, slowing consumer spending remained a challenge, but the rate of decline in sales slowed to 7.8 percent like-for-like from 9.3 percent in the second quarter.

"This was a good third quarter. It confirms our good start to the year and the pursuit of the momentum initiated in 2012," its finance chief Pierre-Jean Sivignon told a conference call.

Market estimates for full-year 2016 earnings before interest and tax (EBIT) of around 2.45 billion euros ($2.69 billion) were "achievable", he added.

Carrefour, which makes 73 percent of its sales in Europe, is pursuing a global revival launched by Chief Executive Georges Plassat in 2012 by focusing on price and cost cuts, and expansion into smaller convenience stores, while also renovating its chain of hypermarkets.   Continuación...