Carrefour issues its fourth 2011 profits warning

FRENCH retailer Carrefour yesterday issued its fourth profit warning in as many months.

The French group, battling to reverse years of underperformance in its main western European markets, said it expected 2011 operating profits to fall by up to 20 per cent, compared with about 15 per cent previously.

Meanwhile the world’s second-biggest retailer said third-quarter sales edged up 0.3 per cent to €22.8bn (£19.4bn), in line with forecasts.