FRANCE: Latin America boosts Carrefour FY sales
By Michelle Russell | 17 January 2013
- Full-year sales up 1%
- Like-for-like sales flat
- Domestic sales edge up 0.1%
 |
Carrefour's European market posted weaker sales |
Carrefour, Europe's largest retailer, has recorded an increase in full-year sales as good growth in the emerging markets, notably Latin America, offset tough trading in Europe.
In the 12 month period, sales edged up 1% to EUR86.56bn (US$115.69bn), the group reported today (17 January). Like-for-like sales excluding petrol remained flat. Including petrol, like-for-like sales grew by 1%.
The emerging markets, in particular, performed well, notably Latin America where sales increased by 4.8%. In the retailer's domestic market, sales edged up 0.1% to EUR39.53bn. Like-for-like sales including petrol were up 0.9% and excluding petrol were down 1.5%.
It was the European market, however, that posted weaker sales, with revenues down 2.5% for the year to EUR23.67bn due to a drop in consumption in Southern Europe and Poland. Weak like-for-like sales trends in Spain continued as austerity measures continued to impact consumption.
In the fourth quarter, sales were up 0.8% to EUR22.85bn, with like-for-like sales including petrol were up 1.3%.
Expert analysis
The new emerging food markets, 2013 and beyond
The countries which make up the BRICs could find some of the focus on them shifting to newer emerging markets elsewhere. just-food has reviewed ten other nations that have emerged into the spotlight as the balance of global power shifts to dynamic, newly industrialised countries in Asia, Latin America, the Middle East and Africa. A group collectively creating another acronym, 'CIVETS', these countries are Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa. In addition, just-food has reviewed Croatia, Poland, Mexico and Nigeria.
Sectors: Emerging markets, Financials, Retail
Companies: Carrefour
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