Carrefour expects to post a drop in operating income

Carrefour has confirmed that it expects to post a drop of about 35% in operating income in France for the first half of 2011. The retailer attributed the decline to a “challenging environment” in the country. A spokesman said Carrefour is maintaining its full-year target of increasing overall sales and earnings before interest and tax, but declined to say how it would compensate for the weak first half performance in France.

Carrefour has appointed Noel Prioux as executive director to lead its business in France. He will be tasked with implementing a recovery plan to improve the company’s performance in its domestic market. Chief executive Lars Olofsson will continue to oversee French operations.

Carrefour has confirmed that it expects to post a drop of about 35% in operating income in France for the first half of 2011. The retailer attributed the decline to a “challenging environment” in the country. A spokesman said Carrefour is maintaining its full-year target of increasing overall sales and earnings before interest and tax, but declined to say how it would compensate for the weak first half performance in France.

Carrefour has appointed Noel Prioux as executive director to lead its business in France. He will be tasked with implementing a recovery plan to improve the company’s performance in its domestic market. Chief executive Lars Olofsson will continue to oversee French operations.