Carrefour Brasil fourth-quarter net rises 6.3% on strong sales
Carrefour Brasil fourth-quarter net rises 6.3% on strong sales. SAO PAULO (Reuters) - Brazilian food retailer Carrefour Brasil SA <CRFB3.SA> on Thursday reported a 6.3% increase in fourth-quarter net income year-on-year as strong sales continued to fuel growth. In January, Carrefour said total sales rose 11.4% in the fourth-quarter, excluding gasoline, to 16.8 billion reais, out of which 11.855 billion reais came from its wholesale division known as Atacadao. Carrefour Brasil, like the Brazilian unit of French rival Casino Guichard Perrachon SA <CASP.PA>, has been investing heavily in the wholesale format, which offers discounts to bargain-seeking Brazilians still recovering from a deep economic recession.
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