+6.1% in the quarter and +6.2% in the
half
- Reported sales growth of +6.1% in
Q2, reflecting a good like-for-like performance and expansion
- Continued solid growth in food sales;
like-for-like sales growth in non-food
- Further sales growth in France:
+0.8%
- Like-for-like growth in all
formats
- Strong momentum in all European
countries: +8.6%
- Like-for-like growth of +3.4%
- Sales up +13.6% in the Rest of the
world1
Regulatory News:
Carrefour (Paris:CA):
Second quarter 2017 First half
2017 Sales inc. VAT (€m)
LFL*
Total variation at
current exch. rates
Sales inc. VAT (€m)
LFL*
Total variation at
current exch. rates
International 11,817 +3.4% +11.1% 23,706 +2.8%
+11.0% France 9,942 +1.9% +0.8% 19,348
+1.3% +0.8%
Group 21,759 +2.8%
+6.1% 43,053 +2.1%
+6.2%
*ex petrol, ex calendar
Total sales under banners including petrol stood at €26.3bn in
the second quarter of 2017 and at €52.1bn in the first half, up
respectively by 5.2% and 4.9% at current exchange rates.
Due to the filing on June 28, 2017 by Atacadão S.A. (Grupo
Carrefour Brasil), the parent company of all Carrefour Group’s
activities in Brazil, of the preliminary prospectus in connection
with the listing of Grupo Carrefour Brasil’s shares on the Novo
Mercado segment of the São Paulo stock exchange, the level of
detail of Carrefour’s second quarter sales release will be limited.
The usual sales breakdown per region will be made public when
Carrefour Group releases its first-half results on August 30,
2017.
1 Latin America and Asia
FIRST HALF 2017 SALES INC. VAT
SOLID GROWTH IN THE HALF
Sales inc. VAT(€m)
LFL ex petrol ex
calendar
Total variation at
current exch. rates
France 19,348 +1.3%
+0.8% International 23,706
+2.8% +11.0% Other European countries 11,163
+2.2% +6.1% Rest of the world 12,543 +3.3% +15.7%
Carrefour posted solid growth in the first half of 2017, with
sales of €43.1bn, up 6.2%. This performance reflects robust
like-for-like sales growth in all regions in which the Group
operates, in a strongly promotional context and in a macroeconomic
environment marked by the slowdown of inflation in several markets.
It also reflects the positive effect of expansion and acquisitions,
Billa in Romania and Eroski in Spain. Food sales continued to grow
strongly, up 6.3% in the half, of which 2.7% on a like-for-like
basis.
This performance demonstrates once again the relevance of
Carrefour’s multiformat model and its balanced geographical
footprint. Carrefour’s omnichannel approach continued to gain
momentum, with strong growth of 30.4% of its Gross Merchandise
Value this half.
The currency effect was a positive 2.8% in the half, largely due
to the appreciation of the Brazilian Real. The petrol effect was
also favorable at +0.5%. The calendar effect was an unfavorable
-0.6%.
SECOND QUARTER 2017 SALES INC. VAT
CONFIRMATION OF THE GROUP’S GOOD MOMENTUM
Sales inc. VAT(€m)
LFL ex petrol ex
calendar
Total variation at
current exch. rates
France 9,942 +1.9%
+0.8% International 11,817 +
3.4% +11.1% Other European countries 5,778 +3.4%
+8.6% Rest of the world 6,038 +3.4% +13.6%
Carrefour confirmed in Q2 its good sales growth momentum.
In a persistently challenging competitive environment,
France posted a good performance in the second quarter, with
reported sales up 0.8% and like-for-like sales up +1.9%. Sales were
up in all formats and benefited from the growth of e-commerce and
the growing momentum of ex-DIA stores converted to Carrefour
banners for more than 12 months. Food sales contributed to France’s
good performance, rising by +2.8% on a like-for-like basis.
Like-for-like sales in hypermarkets were up +0.5%, in an
environment that remained strongly promotional throughout the
quarter. Supermarkets continued to perform well with
like-for-like sales up +1.9%. Growth in convenience and other
formats remained particularly solid, up +6.7% on a
like-for-like basis.
International sales were up +11.1% in the second quarter.
On a like-for-like basis, sales growth was solid and stood at
+3.4%, driven by strong +3.6% growth of food sales. Sales outside
of France benefited this quarter from a positive currency effect of
+3.4%.
In Other European countries, second quarter 2017 sales
improved markedly once again (+8.6% on a reported basis and +3.4%
like-for-like), helped by favorable weather conditions:
- In Spain, like-for-like sales
were up +2.6% in the second quarter and were up +9.4% on a reported
basis, reflecting the excellent performance of the converted Eroski
stores;
- Positive momentum accelerated in
Italy, where like-for-like sales were up +3.9%, driven by
food;
- Growth resumed in Belgium, with
like-for-like sales up +2.4%;
- Like-for-like sales continue to be
particularly dynamic in Poland and Romania.
In the Rest of the world, sales grew strongly, up +13.6%
on a reported basis, of which +3.4% like-for-like. More detailed
information on performance in these markets will be given during
the first half results presentation on August 30 2017.
Overall, in the quarter, the currency effect was a favorable
+1.8%, largely due to the appreciation of the Brazilian Real.
Petrol had an unfavorable effect of -0.3%. The calendar effect was
a favorable +0.3%.
VARIATION OF SECOND QUARTER 2017 SALES INC. VAT
Total sales inc.
VAT (€m)
Change at current
exchange rates inc. petrol
Change at constant
exchange rates inc. petrol
LFL inc. petrol
LFL ex petrol ex
calendar
Organic growth ex
petrol ex calendar
France 9,942 +0.8% +0.8%
+2.
0% +1.
9%
+0.
7% Hypermarkets 5,012 +0.8% +0.8%
+1.5% +0.5% -0.1% Supermarkets 3,280 -0.3%
-0.3% +1.8% +1.9% -0.2% Convenience/other formats 1,650 +3.1% +3.1%
+3.9% +6.7% +5.1%
International
11,817 +11.1% +7.6%
+3.
8% +3.
4%
+5.
4%
Other European
countries 5,778 +8.6% +8.4%
+3.
7% +3.
4%
+4.
2% Spain 2,302 +9.4% +9.4% +2.5% +2.6% +3.1% Italy
1,392 +4.3% +4.3% +5.1% +3.9% +3.1% Belgium 1,101 +2.2% +2.2% +2.2%
+2.4% +2.3%
Rest of the world
6,038 +13.6% +6.9% +3.8%
+3.
4% +6.
6% Group
total 21,759 +6.1% +4.4%
+3.0% +2.
8%
+3.
3%
VARIATION OF FIRST-HALF 2017 SALES INC. VAT
Total sales inc.
VAT (€m)
Change at current
exchange rates inc. petrol
Change at constant
exchange rates inc. petrol
LFL inc. petrol
LFL ex petrol ex
calendar
Organic growth ex
petrol ex calendar
France 19,348 +0.8%
+0.
8% +2.
1%
+1.
3% +0.
1% Hypermarkets
9,859 +0.0% +0.0% +0.6% -0.5% -1.0%
Supermarkets 6,333 +0.3% +0.3% +2.5% +2.0% +0.0% Convenience/other
formats 3,156 +4.2% +4.2% +6.1% +5.6% +3.9%
International 23,706 +11.
0%
+5.
6% +2.
2%
+2.
8% +4.
6%
Other European countries 11,163
+6.
1% +6.
0%
+2.
2% +2.
2%
+2.
8% Spain 4,413 +6.9% +6.9% +1.6% +1.5% +2.0% Italy
2,719 +2.0% +2.0% +3.2% +2.7% +1.6% Belgium 2,127 -0.3% -0.3% +0.0%
+0.3% +0.1%
Rest of the world
12,543 +15.
7% +5.
2%
+2.
2% +3.
3%
+6.
4% Group total 43,053
+6.
2% +3.
3%
+2.
1% +2.
1%
+2.
6%
EXPANSION UNDER BANNERS – SECOND QUARTER 2017
Thousands of sq. m.
Dec. 31, 2016
March 31, 2017
Openings/Store
enlargements
Acquisitions
Closures/ Store
reductions
Total Q2 2017 change
June 30, 2017
France 5,719 5,727 22 2 -7
17 5,744 Europe (ex France) 5,449 5,529 56 55 -66 45
5,574 Rest of the world 5,094 5,113 10 - -33 -23 5,090 Others1
920 939 27 - -9 18
958
Group 17,181 17,308
116 57 -115 57
17,366
STORE NETWORK UNDER BANNERS – SECOND QUARTER 2017
N° of stores
Dec. 31, 2016
March 31, 2017
Openings
Acquisitions
Closures/Disposals
Transfers
Total Q2 2017 change
June 30, 2017
Hypermarkets 1,480 1,503
6 8 -9 -1
4 1,507 France 243 246 -
- - 1 1 247 Europe (ex France)
439 454 2 8 -4 -2 4 458 Rest of the world 708 711 1 - -4 - -3 708
Others1
90 92 3 - -1 - 2
94
Supermarkets 3,212
3,194 23 1 -22
-2 0 3,194 France 1,065
1,060 3 1 -1 -4 -1 1,059 Europe (ex France) 1,777 1,758 13 - -20 2
-5 1,753 Rest of the world 188 190 2 - - - 2 192 Others1 182
186 5 - -1 - 4 190
Convenience 7,072 7,106
167 - -96 3
74 7,180 France 4,219 4,220 46 - -32 3 17
4,237 Europe (ex France) 2,312 2,337 104 - -63 - 41 2,378 Rest of
the world 495 502 16 - -1 - 15 517 Others1 46 47
1 - - - 1 48
Cash
& carry 171 170 1
- - - 1
171 France 143 142 1 - - - 1 143 Europe (ex France)
13 13 - - - - - 13 Rest of the world 2 2 - - - - - 2 Others1
13 13 - - - - - 13
Group 11,935 11,973
197 9 -127 -
79 12,052 France 5,670 5,668 50 1 -33 -
18 5,686 Europe (ex France) 4,541 4,562 119 8 -87 - 40 4,602 Rest
of the world 1,393 1,405 19 - -5 - 14 1,419 Others1 331
338 9 - -2 - 7 345
1 Africa, Middle East and Dominican Republic.
DEFINITIONS
LFL sales growth: Sales generated by stores opened for at
least twelve months, excluding temporary store closures, at
constant exchange rates.
Organic growth: LFL sales plus net openings over the past
twelve months, including temporary store closures, at constant
exchange rates.
Sales under banners: Total sales under banners including
sales by franchisees and international partnerships.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170706005805/en/
CarrefourInvestor Relations:Mathilde Rodié, Anne-Sophie
Lanaute, Louis IgonetTel : +33 (0)1 41 04 28 83orShareholder
RelationsTel : +33 (0)805 902 902 (toll-free in France)orGroup
CommunicationTel : +33 (0)1 41 04 26 17
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