SOURCE: Carrefour SA

April 11, 2007 13:57 ET

Carrefour SA announces 1st Quarter Results

Paris, France -- (MARKET WIRE) -- April 11, 2007 --

                                                           April 11th 2007



                          FIRST QUARTER 2007 SALES



               Group sales + 6.5% on constant exchange rates,
                    + 5.2% on current exchange rates



-      France: total sales up 1.6% (3.4% ex petrol) despite deflationary context

-          In the current deflationary environment for food in France, we have
reinforced our commitment to offer the best prices to all our customers. This
has resulted in food deflation in our hypermarkets of 1.9% this quarter in dry
grocery products.

-          Within this context, like for like sales ex-petrol in hypermarkets
were up 0.9%, and 2.2% in supermarkets.

-          In our hypermarkets, like for like sales in non-food stabilised
(+0.4%), and customer traffic was up in the quarter.



-      Rebound in Spain, sales improvement in Belgium and Italy

-          In Spain, effective promotions helped reverse negative trends
recorded in Q4 2006. Like for likes were up 4.8%, with strong growth in all
formats.

-          We continued to make progress strengthening the commercial offer in
our Belgian and Italian hypermarkets.



-      Growth markets*: like for likes of 5%

-          Six countries recorded like for like growth in excess of 5% -
Argentina, Colombia, China, Romania, Poland and Greece.

-          Taiwan like for likes showed signs of improvement.



-      We are opening more new m(2) in growth markets

-          In Q1, we opened 203,000m(2), of which 65% outside our four big
markets in Europe.

-          New m(2) contributed 4.9% to sales growth in the quarter, of which
1.7% was from tactical acquisitions.


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