Carrefour Brasil reported a nearly 60% year-on-year decline in net profit for the third quarter, hit mainly by lower sales in its retail unit.
UPDATE 2-Brazil s Carrefour sees third-quarter profit dip on slower sales
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Carrefour Brasil posts 95% drop in Q2 net profit weighed down by BIG division
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Carrefour Brasil Posts 95% Drop In Second-Quarter Net Profit
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Carrefour Brasil reported a 95.2% drop in its second-quarter adjusted net profit to reach 29 million reais ($6.10 million), hit by the financial impact of its integration with BIG Group, the company said on Tuesday. The Brazilian arm of French retailer Carrefour SA said that net sales rose 8.1% to reach 25.95 billion reais in the second-quarter, while its wholesale units posted 4.6% sales growth year-on-year. Carrefour's Brazilian unit said operating expenses soared 32.2% from a year earlier to total 3.8 billion reais.