Regulatory News:
Carrefour (Paris:CA)
- Sharp increase in sales in the first
quarter of 2017, reflecting the relevance of Carrefour’s
multiformat model and balanced country portfolio
- Robust growth of +6.2% at current
exchange rates
- Continued progression in food sales: up
+2.2% like-for-like and +5.9% on a reported basis
- Significant increase of Group Gross
Merchandise Value: +34%
- Solid growth in
international operations (+10.9% at current exchange
rates)
- Good sales performance on the back of
strong comparables
- Continued growth in Latin America amid
a slowdown in inflation
- Further sales growth in
France (+0.8%)
- Continued roll-out of omnichannel
strategy
- Good performance in convenience and
growing momentum of ex-DIA stores converted to Carrefour banners
for more than 12 months
- Target of 3% to 5% full-year 2017
sales growth at constant exchange rates confirmed
Sales inc. VAT (€m)
LFL ex petroland
excalendar
Total variation International 11,889 +2.1% +10.9%
France 9,406 +0.5% +0.8%
Group 21,295
+1.4% +6.2%
This quarter, currencies and petrol both had a favorable impact
of +3.9% and +1.3% respectively. The calendar effect was
particularly strong at -1.6%, notably due to the fact that Easter
is in the second quarter this year and there was one less trading
day in Q1 2017 as 2016 was a leap year.
Total sales under banners including petrol stood at €25.7bn in
the first quarter of 2017, up +4.7% at current exchange rates.
FIRST QUARTER 2017 SALES INC. VAT
Sales inc. VAT
(€m)
LFL ex petroland
excalendar
Totalvariation
International 11,889
+2.1% +10.9% Latin America 4,518 +7.8% +30.9%
Asia 1,987 -4.0% -4.1% Other European countries 5,384 +0.9%
+3.6%
France 9,406 +0.5%
+0.8%
Carrefour posted solid growth in the first quarter of 2017, with
sales of €21.3bn, up 6.2%. This performance once again underscores
the relevance of Carrefour’s multiformat model and the good balance
of its country portfolio. Food sales showed solid growth, rising by
5.9% in the quarter. Carrefour’s omnichannel approach continued to
gain momentum with a significant increase of +34% in Group Gross
Merchandise Value this quarter.
This quarter was marked by a particularly strong calendar effect
of -1.6%, due to the fact that Easter is in the second quarter this
year and there was one less trading day in Q1 2017 as 2016 was a
leap year. Carrefour benefited this quarter from a favorable
currency effect of +3.9%, due to the appreciation of the Brazilian
Real. The petrol effect was also favorable, at +1.3%.
Sales in international activities were up +10.9% in the
first quarter of 2017. This performance takes into account a
negative calendar effect of -1.8% and a positive currency effect of
+7.3%. Like-for-like sales growth was solid, at +2.1%, driven by a
+2.8% increase in food sales.
In Latin America, like-for-like sales were up +7.8%
(+11.7% on an organic basis), a solid performance. The currency
effect was +22.1%.
In Brazil, the roll-out of Carrefour’s multiformat model
continues to bear fruit in an environment marked by high
unemployment and a slowdown in inflation in Q1. In this context,
Carrefour posted a good performance, with like-for-like sales up
+5.6% (+10.5% on an organic basis). Carrefour’s success in the
country reflects the continued progression of Atacadão and
hypermarkets as well as further openings of convenience stores
under the Express banner. Like-for-like sales in Argentina
were up +14.6% in a difficult economic environment.
Asia posted another sequential improvement in sales,
which were down -4.0% in the first quarter of 2017 (-2.3% on an
organic basis). China recorded a like-for-like sales drop of
-5.5% and sales in Taiwan rose for the ninth consecutive
quarter, up +0.3% on a like-for-like basis on the back of strong
comparables.
In Other European countries, sales rose again in the
quarter (+3.6% in total) on a challenging comparable base in
several countries. On a like-for-like basis, sales were up +0.9% in
the quarter.
- In Spain, like-for-like sales
were up +0.3% in the quarter on the back of strong comparables in
the same period last year (+3.4%);
- Positive momentum continued in
Italy, where like-for-like sales were up +1.6%, on the back
of strong comparables in Q1 2016 (+4.5%) ;
- Like-for-like sales remained very
dynamic in Poland and in Romania.
In a first quarter marked by an unfavorable calendar effect and
a very competitive environment, France showed good
resilience and posted sales growth (+0.8% in total). For the fifth
year in succession, food sales were up in the first quarter, with a
like-for-like increase of +1.3%.
Total sales at hypermarkets were down -0.8% (-1.6% LFL)
in an environment that remained highly promotional throughout the
quarter. Other formats continued to perform well, with total
supermarket sales up +1.1% (+2.2% LFL) and total sales in
convenience and other formats continuing to be particularly
solid at +5.5% (+4.4% LFL), benefiting from the growth of
e-commerce and the positive momentum of ex-DIA stores converted to
Carrefour banners for more than 12 months.
VARIATION OF FIRST QUARTER 2017 SALES INC. VAT
Totalsalesinc.
VAT(€m)
Change
atcurrentexchangerates
inc.petrol
Change
atconstantexchangerates
inc.petrol
LFL inc. petrol
LFL ex petrolex calendar
Organic growth ex
petrol ex calendar
France 9,406 +0.8% +0.8%
+2.1% +0.5% -0.6%
Hypermarkets 4,848 -0.8% -0.8% -0.4% -1.6% -2.0% Supermarkets 3,053
+1.1% +1.1% +3.2% +2.2% +0.2% Convenience /other formats 1,505
+5.5% +5.5% +8.6% +4.4% +2.5%
International 11,889 +10.9%
+3.6% +0.6% +2.1%
+3.9%
Other European countries
5,384 +3.6% +3.6%
+0.6% +0.9% +1.3% Spain 2,110
+4.3% +4.3% +0.6% +0.3% +0.8% Italy 1,328 -0.4% -0.4% +1.2% +1.6%
0.0% Belgium 1,026 -2.7% -2.7% -2.3% -1.8% -2.1%
Latin America 4,518 +30.9%
+8.8% +5.0% +7.8%
+11.7% Brazil 3,666 +37.6% +7.4% +2.8% +5.6% +10.5%
Asia 1,987 -4.1%
-5.0% -6.7% -4.0%
-2.3% China 1,446 -8.6% -7.0% -8.4% -5.5% -4.1%
Group total 21,295 +6.2%
+2.3% +1.3% +1.4%
+1.9%
EXPANSION UNDER BANNERS – First quarter 2017
Thousands of sq. m.
Dec. 31. 2016
Openings/Storeenlargements
Acquisitions
Closures/Storereductions
Total Q12017 change
March 31, 2017
France 5,719 12 7 -73 -55 5,664 Europe (ex France) 5,449 29 101 -50
80 5,529 Latin America 2,335 24 - -2 22 2,358 Asia 2,758 27 - -30
-3 2,755 Others1 920 20 - -1 20
939
Group 17,181 112
109 -156 64
17,246
STORE NETWORK UNDER BANNERS – First quarter 2017
N°. of stores
Dec. 31, 2016
Openings Acquisitions
Closures/Disposals
Transfers
Total Q12017 change
March 31,2017
Hypermarkets 1,480 9
19 -7 2 23
1,503 France 243 - 2 - 1 3 246 Europe (ex France) 439 - 17
-3 1 15 454 Latin America 334 3 - - - 3 337 Asia 374 4 - -4 - - 374
Others1
90 2 - - - 2 92
Supermarkets 3,212 23
- -37 -4 -18
3,194 France 1,065 2 - -4 -3 -5 1,060 Europe (ex
France) 1,777 13 - -31 -1 -19 1,758 Latin America 150 - - -1 - -1
149 Asia 38 3 - - - 3 41 Others1 182 5 -
-1 - 4 186
Convenience
7,072 123 - -91
2 34 7,106 France 4,219
36 - -37 2 1 4,220 Europe (ex France) 2,312 77 - -52 - 25 2,337
Latin America 468 7 - -2 - 5 473 Asia 27 2 - - - 2 29 Others1
46 1 - - - 1 47
Cash & carry 171 -
- -1 - -1
170 France 143 - - -1 - -1 142 Europe (ex France) 13 - - - -
- 13 Asia 2 - - - - - 2 Others1 13 - -
- - - 13
Group 11,935
155 19 -136
- 38 11,973 France 5,670 38 2
-42 - -2 5,668 Europe (ex France) 4,541 90 17 -86 - 21 4,562 Latin
America 952 10 - -3 - 7 959 Asia 441 9 - -4 - 5 446 Others1
331 8 - -1 - 7 338
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.
1Africa, Middle East and Dominican Republic.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170412006174/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
Xtrackers California Mun... (NASDAQ:CA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Xtrackers California Mun... (NASDAQ:CA)
Historical Stock Chart
From Jul 2023 to Jul 2024