Carrefour Drops on Disappointing Sales, Overseas Pullback

Carrefour SA shares fell after the French grocer reported weaker-than-expected sales in its home market and announced plans to further shrink its international footprint.

Like-for-like sales in France excluding fuel and calendar effects grew 0.4% in the fourth quarter, Europe’s largest food retailer said, short of the 0.7% expected by analysts. Recurring operating income also missed estimates.