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Carrefour: Solid Sales Growth in Q3 2013: +2.7% at Constant Exchange Rates



  Carrefour: Solid Sales Growth in Q3 2013: +2.7% at Constant Exchange Rates

                        Further Sales Growth in France

                 Continued Growth in Latin America and China

Business Wire

BOULOGNE-BILLANCOURT, France -- October 17, 2013

Regulatory News:

Carrefour (Paris:CA):

Q3 2013: Solid sales growth, + 2.7% at constant exchange rates to €21.1bn

  * In France, all formats posted growth; sales up 3.0% ex-petrol and up 1.4%
    on a reported basis
  * International: Sales up 3.8% at constant exchange rates

       * Continued growth in Latin America, with sales up 11.2% at constant
         exchange rates; excellent performance in Brazil
       * Further like-for-like sales growth in China this quarter

9-months 2013: Good sales growth, up 1.8% at constant exchange rates to
€62.1bn

 
Third quarter 2013 sales inc. VAT ^(1)
                                                                                                                                      
                                                                                                                       Change
                                                                                                                       at            Change
                                 Change                                     Change                                     current       ex. petrol
                                 at constant exch. rates                    at constant exch. rates                    exch.         ex.
                    €m           inc. petrol                                ex. petrol                                 rates         calendar
                                                                                                                       inc.
                                                                                                                       petrol
                                 LFL^(2)       Organic          Total       LFL^(2)       Organic          Total       Total         Organic
                                               growth^(3)                                 growth^(3)                                 growth^(3)
                                                                                                                                      
France              10,154       +2.0%         +1.4%            +1.4%       +3.3%         +3.0%            +3.0%       +1.4%         +2.0%
International       10,957       +3.1%         +3.9%            +3.8%       +3.0%         +3.8%            +3.7%       -3.8%         +3.6%
Total Group         21,111       +2.6%         +2.7%            +2.7%       +3.1%         +3.5%            +3.4%       -1.3%         +3.0%
                                                                                                                                      

Sales under banners

Total sales under banners ^ (4) including petrol in Q3 2013 stood at €25.3bn,
up 2.7% at constant exchange rates (-0.8% at current exchange rates). In the
first nine months of 2013, total sales under banners were €74.0bn, up 1.3% at
constant exchange rates (-1.1% at current exchange rates).

^1 Variations are pro-forma with activities in Greece, Singapore, Colombia,
Malaysia, Indonesia and Turkey reclassified as Discontinued Activities as of
Jan. 1, 2012, in accordance with IFRS 5.
^2 LFL sales growth: Sales generated by stores opened for at least twelve
months, excluding temporary store closures.
^3 Organic sales growth: LFL sales plus net openings over the past twelve
months, including temporary store closures.
^4 Sales under banners: Total sales under banners including sales by
franchisees and international partnerships.

FRANCE

Third quarter 2013 sales inc. VAT
                                                                                                                       
                                                                                                                      Change ex.
                                Change inc. petrol                         Change ex. petrol                          petrol
                   €m                                                                                                 ex.
                                                                                                                      calendar
                                LFL^(5)       Organic          Total       LFL^(5)       Organic          Total       Organic
                                              growth^(6)                                 growth^(6)                   growth^(6)
                                                                                                                       
Hypermarkets       5,495        +1.9%         +2.0%            +2.0%       +3.0%         +3.2%            +3.2%       +2.0%
Supermarkets       3,422        +1.2%         -0.3%            -0.3%       +2.7%         +1.9%            +1.9%       +1.3%
Convenience
& other            1,237        +5.0%         +3.7%            +3.7%       +5.9%         +5.3%            +5.3%       +4.1%
formats
France             10,154       +2.0%         +1.4%            +1.4%       +3.3%         +3.0%            +3.0%       +2.0%
                                                                                                                       

Organic sales in France were up 3.0% excluding petrol (+2.0% ex. calendar).
Sales grew in all formats. The drop in petrol prices this quarter impacted
sales in France by 1.6%.

Reported sales at Hypermarkets were up 2.0% (+3.2% excluding petrol).
Excluding the calendar impact, organic sales were up 2.0% excluding petrol
(+0.8% including petrol). Food sales continued to grow this quarter and non-
food sales were more resilient.

Reported sales excluding petrol at Supermarkets were up 1.9% on a reported
basis and +1.3% excluding the calendar impact.

Convenience and other formats posted reported sales up 5.3% excluding petrol
(+3.7% including petrol). Excluding the calendar effect, organic sales grew by
4.1% excluding petrol (+2.4% including petrol).

^5 LFL sales growth: Sales generated by stores opened for at least twelve
months, excluding temporary store closures.
^6 Organic growth: ^LFL sales plus net openings over the twelve months,
including temporary store closures.

INTERNATIONAL

Third quarter 2013 sales inc. VAT^(7)
                                                                                                                                       
                                                                                                                        Change
                                                                                                                        at            Change
                                 Change at                                   Change at                                  current       ex. petrol
                                 constant exch. rates                        constant exch. rates                       exch.         ex.
                    €m           inc. petrol                                 ex. petrol                                 rates         calendar
                                                                                                                        inc.
                                                                                                                        petrol
                                 LFL^(8)       Organic          Total        LFL ^        Organic          Total        Total         Organic
                                               growth^(9)                    (8)          growth^(9)                                  growth^(9)
                                                                                                                                       
Other
European            5,409        -1.8%         -1.9%            -1.6%        -1.9%        -2.0%            -1.7%        -1.7%         -2.7%
countries
Latin America       3,711        +11.6%        +11.9%           +11.2%       +11.3%       +11.7%           +11.0%       -8.5%         +12.0%
Asia                1,836        -0.3%         +3.7%            +3.7%        -0.3%        +3.7%            +3.7%        +0.5%         +3.9%
International       10,957       +3.1%         +3.9%            +3.8%        +3.0%        +3.8%            +3.7%        -3.8%         +3.6%
                                                                                                                                       

The Group’s international sales were up 3.8% at constant exchange rates.
Excluding the calendar impact, ex. petrol organic sales were up 3.6%. Sales in
Europe continued to be impacted by a difficult consumption environment, while
growth continued in Latin America and China. Currencies had a negative impact
of 7.6% in the third quarter.

Other European countries

Organic sales were down 1.9% in Europe. Excluding the calendar impact
estimated at +0.7%, ex. petrol organic sales were down 2.7%. Currencies had a
broadly neutral effect.

Sales in Spain (organic sales down 0.9% and LFL sales down 1.8%) confirmed the
resilience observed in the previous quarter. In Italy, organic sales were down
4.6% (-3.9% LFL) on a weak comparable basis. In Belgium, organic sales were up
1.4% (+1.6% LFL).

Latin America

Sales were up 11.2% at constant exchange rates in Latin America and up 11.9%
on an organic basis. Excluding the calendar impact estimated at -0.3%, ex.
petrol organic sales were up 12.0%. Currencies had a negative impact of 20%
this quarter due to the depreciation of the Brazilian real and the Argentine
peso against the euro.

In Brazil, growth continued in all formats with organic sales up 8.6% (+8.8%
LFL). Argentina saw its organic sales grow by 22.3%, of which 20.4% on a LFL
basis.

Asia

Organic sales in Asia were up 3.7%. Excluding the calendar impact, they were
up 3.9%.

In China, organic sales were up 4.7%. Like-for-like sales grew for the second
consecutive quarter, rising by 1.1%. Organic sales were stable in Taiwan.

^7 Variations are pro-forma with activities in Greece, Singapore, Colombia,
Malaysia, Indonesia and Turkey reclassified as Discontinued Activities as of
January 1, 2012, in accordance with IFRS 5.
^8 LFL sales growth: Sales generated by stores opened for at least twelve
months, excluding temporary store closures.
^9 Organic growth: ^LFL sales plus net openings over the twelve months,
including temporary store closures.

9-month sales 2013 inc. VAT^(10)
                                                                                                                                            
                                                                                                                             Change
                                                                                                                             at            Change
                                 Change at                                     Change at                                     current       ex. petrol
                                 constant exch. rates                          constant exch. rates                          exch.         ex.
                    €m           inc. petrol                                   ex. petrol                                    rates         calendar
                                                                                                                             inc.
                                                                                                                             petrol
                                 LFL^(11)       Organic           Total        LFL^(11)       Organic           Total        Total         Organic
                                                growth^(12)                                   growth^(12)                                  growth^(12)
                                                                                                                                            
Hypermarkets        15,821       -0.4%          0.0%              0.0%         -0.3%          +0.2%             +0.2%        0.0%          +0.8%
Supermarkets        9,876        +0.1%          -0.8%             -0.8%        +0.2%          +0.2%             +0.2%        -0.8%         +0.6%
Convenience
and other           3,425        +4.3%          +4.0%             +4.0%        +3.5%          +3.8%             +3.8%        +4.0%         +4.2%
formats
France              29,122       +0.3%          +0.2%             +0.2%        +0.3%          +0.6%             +0.6%        +0.2%         +1.1%
                                                                                                                                            
Other
European            15,799       -3.3%          -3.5%             -3.3%        -3.4%          -3.6%             -3.3%        -3.2%         -3.4%
countries
Latin America       11,564       +11.1%         +12.3%            +12.3%       +10.8%         +12.1%            +12.2%       -2.6%         +12.6%
Asia                5,643        -1.6%          +2.5%             +2.5%        -1.6%          +2.5%             +2.5%        +1.5%         +2.3%
International       33,005       +2.0%          +3.0%             +3.1%        +1.9%          +3.0%             +3.1%        -2.2%         +3.2%
                                                                                                                                            
Group               62,127       +1.2%          +1.7%             +1.8%        +1.2%          +2.1%             +2.1%        -1.1%         +2.4%
                                                                                                                                            

^10 Variations are pro-forma with activities in Greece, Singapore, Colombia,
Malaysia, Indonesia and Turkey reclassified as Discontinued Activities as of
January 1, 2012, in accordance with IFRS 5.
^11 LFL sales growth: Sales generated by stores opened for at least twelve
months, excluding temporary store closures.
^12 Organic growth: LFL sales plus net openings over the twelve months,
including temporary store closures.

EXPANSION UNDER BANNERS – Q3 2013

In Q3 2013, Carrefour opened or acquired 131,000 gross sq.m. (315,000 sq.m. in
the first nine months). Net of disposals or closures, the network added 40,000
sq.m. in Q3 2013 and added 9,000 sq.m. in the first nine months.

                                                                                                                                                       
                                                  Opening/                              Closures/                                        Total        30
Thousands         31 Dec.         30 June         Store              Acquisitions       Store            Transfers       Disposals       Q3           Sept.
of sq.m.          2012^(13)       2013^(14)       enlargements                          reductions                                       2013         2013
                                                                                                                                         change
France            5,075           5,061           12                 6                  -8                               -9              0            5,061
Europe (ex.       5,630           5,538           27                                    -67                                              -40          5,499
Fr)
Latin             2,045           2,057           12                                    -3                                               9            2,065
America
Asia              2,592           2,608           40                                    -3                                               37           2,644
Others^(15)       608             656             34                                                                                     34           689
Group             15,949          15,918          125                6                  -82                              -9              40           15,958
                                                                                                                                                       

STORE NETWORK UNDER BANNERS – Q3 2013

In Q3 2013, Carrefour opened or acquired 175 stores (+497 in the first nine
months of 2013). Net of disposals and closures, the network added 21 stores in
Q3 2013 and was reduced by 102 stores in the first nine months.

                                                                                                                                                  
                                                                                                                                    Total        30
No of stores       31 Dec.         30 June         Openings       Acquisitions       Closures       Transfers       Disposals       Q3           Sept.
                   2012^(13)       2013^(14)                                                                                        2013         2013
                                                                                                                                    change
Hypermarkets       1,366           1,374           12             1                  -1                                             12           1,386
France             232             232             1              1                                                                 2            234
Europe (ex.        457             459             1                                                                                1            460
Fr)
Latin              272             273             1                                 -1                                             0            273
America
Asia               350             352             5                                                                                5            357
Others^(15)        55              58              4                                                                                4            62
Supermarkets       2,986           2,925           15                                -57            -2              -3              -47          2,878
France             964             953                                                              -1              -3              -4           949
Europe (ex.        1,728           1,667           11                                -54                                            -43          1,624
Fr)
Latin              168             168                                                                                              0            168
America
Asia               16              18              2                                 -2             -1                              -1           17
Others^(15)        110             119             2                                 -1                                             1            120
Convenience        5,479           5,401           145                               -91            1                               55           5,456
France             3,405           3,418           33                                -27            1                               7            3,425
Europe (ex.        1,819           1,690           89                                -62                                            27           1 717
Fr)
Latin              235             273             21                                -2                                             19           292
America
Asia               0               0                                                                                                0            0
Others^(15)        20              20              2                                                                                2            22
Cash & carry       164             172             2                                 -1                                             1            173
France             140             140                                               -1                                             -1           139
Europe (ex.        14              19                                                                                               0            19
Fr)
Asia               4               4                                                                                                0            4
Others ^           6               9               2                                                                                2            11
(15)
Group              9,995           9,872           174            1                  -150           -1              -3              21           9,893
France             4,741           4,743           34             1                  -28                            -3              4            4,747
Europe (ex.        4,018           3,835           101                               -116                                           -15          3,820
Fr)
Latin              675             714             22                                -3                                             19           733
America
Asia               370             374             7                                 -2             -1                              4            378
Others ^           191             206             10                                -1                                             9            215
(15)
                                                                                                                                                  

^13 The store network as of 31 December 2012 takes into account the
reclassification of 469 franchised stores from the supermarket format to the
convenience store format.
^14 ^The store network as of 30 June 2013 has been adjusted for 42 franchised
supermarkets and 189 franchised convenience stores which were closed in Greece
in 2013.
^15 ^Maghreb, Middle East and Dominican Republic.

Contact:

Carrefour
Investor Relations:
Réginald Gillet, Alessandra Girolami, Matthew Mellin, +33 (0)1 41 04 26 00
or
Shareholder relations:
Céline Blandineau, +33 (0)805 902 902 (Toll free in France)
or
Group Communications
+33 (0)1 41 04 26 17
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