Carrefour Romania reports 5.8% lower sales in Q2.

By bne IntelliNews September 1, 2010
The local branch of French retailer Carrefour reports a 5.8% y/y decline in sales to EUR 265mn in Q2, according to a group's report. For the period, the local currency strengthened slightly by 0.3% y/y and the sales were helped in the latest days of June by the VAT rate hike effective July, but none of these drivers pushed up sufficiently the sales. The decline occurs after a 7.4% y/y rise in sales in Q1 on the back of 3.7% local currency's y/y strengthening and on the back of low base effect also, to EUR 269mn; the overall sales performance for H1 was a positive 0.4% advance to EUR 534mn. Carrefour Romania operates 23 hypermarkets and 28 supermarkets.

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