Paris-based Carrefour's turnaround strategy launched last year by new CEO Georges Plassat, which includes store refurbishments and efforts to bring a more local feel to neighborhood stores, has started to pay off in France, the company reported Thursday. Total sales rose 1.4% in the second quarter, and sales in France fell 0.2%, compared to a 0.7% drop in the first quarter, even as residents coped with another recession and ongoing high unemployment.

Related Summaries