Carrefour CEO sees no significant signs of economic improvement

Carrefour CEO Lars Olofsson has said that he does not see significant signs of improvement in the world economy. "I don't see any significant signs of an immediate change. The only part of the world where they are still dancing the samba is Latin America," he told the Wall Street Journal. Olofsson defended the hypermarket model saying that despite the challenge presented by speciality stores. "In France we have about one million people per day flowing through our hypermarkets. People still have an interest in them." Olofsson said price promotions were paying off and consumers were buying more Carrefour-branded goods in Western Europe. He added that Carrefour's market share had increased in the first six months of the year, the first time in two and a half years the group had shown a market share gain over a six-month period.

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