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Carrefour cuts full-year forecast
Carrefour, Europe’s biggest retailer, trimmed its 2010 profit forecast as an increase in one-off charges at its Brazilian business offset a slightly higher-than-expected rise in third-quarter sales. The French group, world number two by sales behind US group Wal-Mart, said yesterday it expected to make an underlying operating profit of around €3bn (£2.6bn) this year, down from about €3.1bn previously. That was due to an increase in the estimate for one-off charges at the group’s Brazilian business, where it is trying to revive flagging hypermarkets sales, to about €180m. Carrefour, which has over 15,500 stores in 35 countries, said third-quarter sales rose 6.7 per cent.