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French retailer Carrefour reports $29.5 bn in Q1 sales, slight increase as Europe struggles
PARIS (AP) ' Struggling big box retailer Carrefour marked a slight increase in revenue for the first quarter, with strong growth in Latin America just offsetting declining sales in Europe.
The world's second-largest retailer by revenue said Thursday that it brought in '22.49 billion ($29.53 billion) in sales from January to March. That represents a 1.5 percent increase over the same quarter last year.
Business was strongest in Latin America, where the retailer marked an 8.1 percent increase in revenue. But sales on that continent make up only 20 percent of Carrefour's total.
The company is struggling in France and the rest of Europe, where the vast majority of its business is. In France, sales barely improved in the first quarter. In the rest of Europe, revenue slipped 3.2 percent.