Business

Carrefour profit forecast lowered

A Thai shopper leaving a French retail giant Carrefour supermarket in Bangkok
Image caption Carrefour gets about 40% of its sales in its home market of France

Carrefour, Europe's biggest retailer, has trimmed its operating profit forecast for this year to about 3bn euros ($4.2bn; £2.6bn).

That is lower than its earlier forecast of 3.1bn euros, owing to a one-off charge of 180m euros relating to Carrefour's Brazilian business.

It said the charges were partly the result of running up unsold stock at its struggling hypermarkets there.

It also reported a 6.7% rise in sales in the third quarter of the year.

Sales totalled 25.6bn euros in the quarter, but chief executive Lars Olofsson said that trading "remains challenging".

He highlighted healthy sales in China and Latin America, however, saying that overall Carrefour had achieved a "strong performance".

Carrefour, the world's second biggest retailer behind Wal-Mart, operates more than 15,500 stores in 35 countries.

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