Recovering Europe and strong Brazilian sales lift Carrefour

Sales growth for Carrefour accelerated in the fourth quarter, with the world's second largest retailer starting to see the benefits of efforts to revive its core European businesses. Buoyant growth in Brazil, Carrefour's largest market after France, also helped.

Finance head Pierre-Jean Sivignon said the retailer would be ready to go ahead with an IPO in the South American country this year if market conditions permit.

Trading conditions remained weak in China, however, amid slowing consumption and a government crackdown on lavish spending, the company said on Friday.

Operating income for 2014 would be in line with the expected €2.38 billion, it added.

Fourth-quarter sales were €22.62 billion, above the average forecast of €22.47 billion in a poll of analysts. Stripping out fuel, currencies and calendar effects, revenue grew 4.1 per cent year-on-year, an acceleration from 2.8 per cent growth in the third quarter. – Reuters