FRANCE: Carrefour claims home "improvement"
- Carrefour says French business improving
- French LFLs, ex fuel, down 1.5%
- Group sales up, shares rise
Sales growth was driven notably by Latin America
Carrefour today (11 October) claimed its domestic business is improving after reporting an increase in third-quarter French revenues, although underlying sales were down.
Sales in France "showed an improvement", the retailer said, although like-for-like sales at constant exchange rates, excluding fuel but including VAT fell 1.5%.
However, Carrefour pointed to a 1.2% increase in total French sales. The growth was "supported by improving sales trends in hypermarkets and supermarkets and by petrol sales", Carrefour said. "Sales at convenience formats continued to grow strongly," it added.
Group sales grew 2.1% to EUR22.6bn (US$22.1m). Growth was driven by Latin America where revenues were up 5.2%, with accelerating growth in Brazil. Like-for-like sales were up 10.1% in the region.
Like-for-like sales at constant exchange rates, excluding fuel but including VAT, climbed 0.2%, Carrefour said.
Southern Europe, however, remained "difficult". Like-for-like sales in Europe, excluding France, fell 3.3%. In Asia, like-for-likes dropped 3.1%.
In the first nine months of the year, Carrefour's total like-for-like sales were down 0.2%, with Latin America the only region to report an increase in like-for-like sales in the period, of 8.6%.
Sales grew 1.3% to EUR66.3bn, supported by emerging markets, notably Latin America, where sales grew 5.3%.
The market responded positively to the results. Carrefour shares were up 4.9% to EUR16.77 at 09:30 BST today.
On Thursday, two of the world's largest food retailers will report their 2012 financial results and, more importantly, try to convince investors their moves to improve their operations in key markets ...
Qatari investment vehicle Hassad Foods has bought a majority stake in Indian food supplier Bush Foods Overseas....
In a week of results from major retailers, Carrefour cheered the market with improvement in France, upmarket UK grocer Waitrose highlighted its strong year and Belgium's Delhaize insisted its business...
- Challenges for General Mills with The Good Table
- What US companies might Nomad Foods buy?
- Greek crisis - The impact on shopper behaviour
- Competition intensifies among UK burger chains
- Why investors are concerned about water risk
- Mitsubishi buys stake in Olam International
- Unilever claims victory in Becel dispute
- KitKat to go sustainably sourced cocoa only
- Arla strikes JVs in Nigeria and Senegal
- Arla H1 profits down on milk price slump
- Management briefing: just-food’s industry outlook for 2015
- Food Flavourings & Colourings (UK) - Industry Report
- Biscuit Manufacturers (UK) - Industry Report
- The Coca-Cola Company : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- Cakes, Pastries & Sweet Pies Market in Egypt: Market Profile to 2017