French Retailer Carrefour Warns on Profit
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Carrefour, the world's No. 2 retailer,  posted a weaker-than-expected rise in quarterly sales on  Tuesday and warned it would not reach annual sales and profit  targets amid a sharp deterioration in its markets.
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A profit warning from consumer products giant Unilever and concern that oil prices, now topping &#36;46 a barrel, will hurt company earnings kept European shares in negative ground Monday.
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The introduction of congestion charging in Edinburgh could hit retailers' profits, a report says.
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Retailer Lowe&#39;s Cos Inc  warned  on Monday that full-year profit could trail its prior forecast,  saying dry conditions in some parts of the United States were  hurting sales.
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Carrefour, the European retailer, posted a 3.3 percent rise in profit for 2006, with a weaker performance in its home market in France dampening robust growth elsewhere. The company said net profit was 1.86 billion euros ($2.44 billion), compared with 1.8 billion euros in 2005. Sales, which Carrefour reported in January, rose 3.4 percent, to 3.26 billion euros. The earnings report came the day after the chairman of Carrefourâs supervisory board, Luc Vandevelde, resigned in a shake-up.
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The consumer products firm issues a profit warning for the second half.
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French retail giant Carrefour SA is planning to sell its operations in Japan, the Wall Street Journal reports on its website.
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A profit warning from consumer products  giant Unilever and concern that oil prices, now topping $46 a  barrel, will hurt company earnings kept European shares in  negative ground Monday.
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A French trade union threatened on Monday to halt production of aircraft by Airbus if the board did not redistribute cutbacks between Germany and France.
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Struggling UK supermarket chain Sainsbury's issues its third profit warning of the year, saying half-year profits are set to fall to as little as Â£125m.
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Cott Corp., the biggest maker of store-branded soft drinks, said 2004 profit may fall below forecasts because of higher plastic and aluminum costs to make containers.
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The women's fashion retailer warns of lower earnings and sales.
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Two UK clothing retailers, Next and French Connection, warn that there are tough times to come on the high street.
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The retailer, led by the hedge fund manager Edward Lampert, warned that falling sales would force it to post fourth-quarter earnings well below analyst estimates.
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Coca-Cola, the world's largest maker of soft drinks, issues a profit warning, partly  blaming the impact of cold and wet weather in northern Europe.
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French bank BNP Paribas warns "deepening crisis" in financial markets has dented profits.
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Carrefour, the world's No. 2 retailer said Wednesday that its profit increased 5.3 percent in the first half of the year, as robust international operations and lower finance costs helped it ride out tough conditions at its core French superstores.