French retailer Carrefour said third quarter group sales fell 1.5% due to the effects of exchange rates as well as difficult trading conditions at its South American businesses.

Group turnover dropped to 18.94bn euros with sales down 42.3% in the Americas. In its home market sales grew 2.45 and elsewhere in Europe rose 8.4%.

Carrefour said it opened 16 hypermarkets, nine supermarkets and 50 discount stores during the quarter spread across its trading areas around the world.

The retailer said that all of its Swiss supermarkets had been rebranded under the Carrefour fascia.

Carrefour also reaffirmed its target for full-year sales growth of “around 5%”.