Carrefour Braces for More Global Retail Weakness

Retailer Carrefour SA said sales gains ground to a near halt in the fourth quarter and projected consumer spending would remain weak for months, adding pressure on new Chief Executive Lars Olofsson to revitalize the retail giant.

Paris-based Carrefour operates more than 15,000 stores across the globe and is the world's second-largest retailer as measured by sales, behind Wal-Mart Stores Inc.

Sales slumped in recession-plagued West European countries such as Spain, which had boosted results last year, and at the supercenters that ...