SOURCE: Carrefour SA

May 13, 2008 12:56 ET

Carrefour SA Announces Q1 2008 Sales

Good Start to a Breakthrough Year; Sales inc. VAT + 10.5% on Constant Exchange Rates (+ 10.2% on Current Exchange Rates)

PARIS--(Marketwire - May 13, 2008) -


--  Strong momentum maintained from Q4 2007

      --  Q1 continued the strong momentum of Q4 2007, recording the second
          consecutive quarter of double digit sales growth
      --  This growth reflects a positive customer response to our on-going
          multi format strategy to make the Carrefour brand work harder, as
          well as the opening of more new m2 through organic growth and
          tactical acquisitions
      --  Excluding acquisitions, group sales increased 6.8%, in line with
          our full year objectives
      --  Food, which represents 73% of group sales, grew well across all
          formats and all markets, compensating for a general weakness in
          non-food spending

--  Sales trends resilient in France and robust in Spain

      --  France and Spain reported sales growth overall of 2.6% and 8.0%
          respectively. Food like for like sales were robust across all
          formats in both countries.
      --  Results from the trials of new format hypermarkets and Carrefour
          Market stores are very encouraging

--  Strong performance by our growth markets

      --  Our growth markets in Europe, Asia and Latin America increased
          sales in Q1 by nearly 33%. All major markets contributed, with
          six countries reporting like for like sales in excess of 5%:
          Poland, Romania, Brazil, Argentina, Colombia and China
      --  Together, our growth markets accounted for 30% of group sales in
          Q1 versus 25% in the same period last year


                                                                   Q1 sales
                                         Total                     inc VAT
            Sales   Like for              Ex                         2007
           inc. VAT   like.  Expansion  currency Currencies  Total  (mEUR)
            (mEUR)     (%)      (%)       (%)        (%)      (%)  PROFORMA
           -------- -------- ---------- ======== ----------- ----- --------

FRANCE       10 107      2.7       -0.1      2.6         0.0   2.6    9 852
           -------- -------- ---------- ======== ----------- ----- --------
EUROPE ex
 Fce          8 571      2.2        6.2      8.4         0.4   8.8    7 874
           -------- -------- ---------- ======== ----------- ----- --------
LATIN
 AMERICA      2 837     15.6       38.2     53.8         1.3  55.1    1 828
           -------- -------- ---------- ======== ----------- ----- --------
ASIA          1 860      8.6       11.2     19.8        -8.1  11.7    1 655
           -------- -------- ---------- ======== ----------- ----- --------

TOTAL        23 375      4.1        6.4     10.5        -0,3  10.2   21 219
           -------- -------- ---------- ======== ----------- ----- --------



                                  FRANCE
                             Q1 sales up 2.6%
                Robust food sales offset a fall in non-food


                         Sales inc     Like for    Expansion
                         VAT (mEUR)    like. (%)      (%)       Total (%)
                        ------------ ------------ ------------ ------------

FRANCE                        10 107          2.7         -0.1          2.6
                        ------------ ------------ ------------ ------------

Hypermarkets                   5 322          0.7          0.5          1.2
                        ------------ ------------ ------------ ------------
Supermarkets                   2 304          6.7          0.1          6.8
                        ------------ ------------ ------------ ------------
Hard discount                    738          3.4          2.5          5.9
                        ------------ ------------ ------------ ------------
Others                         1 743          3.8         -3.6          0.2
                        ------------ ------------ ------------ ------------

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Contact Information

  • Contact:
    Virginie Blin
    + 33 1 55 63 39 16