Carrefour 2018 Loss Deepens; Cost-Cutting Targets Raised
February 28 2019 - 2:00AM
Dow Jones News
By Anthony Shevlin
Carrefour SA (CA.FR) said on Thursday that its net loss in 2018
deepened slightly, and that it has raised its cost-cutting targets
as part of a transformation plan.
The French retailer said net loss for the year was 561 million
euros ($638.4 million), compared with a loss the year previous of
EUR531 million.
The company said its recurring operating income was EUR1.94
billion.
Sales for the year were EUR85.16 billion, not taking into
account hyperinflation in Argentina, and the company said sales
accelerated in the second half.
The company kept its dividend of EUR0.46 per share.
Carrefour plans to raise its cost-cutting plan to EUR2.80
billion on an annual basis by 2020. The company previously forecast
cost-cutting of EUR2.0 billion.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
February 28, 2019 01:45 ET (06:45 GMT)
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