Good Start to the Year, Accelerating Growth
in International Markets
Reported Growth of +3.8% Ex Petrol, +3.1%
Like-for-Like
Regulatory News:
Carrefour (Paris:CA)
- International: Reported growth
of +6.4% ex petrol and ex currencies, +5.3% on a like-for-like
basis
- Accelerating growth in Europe; all
countries posted like-for-like sales growth
- Continued excellent performance in
Latin America
- Very good momentum in Taiwan; in China,
like-for-like sales improved sequentially versus Q4 2015
- France: Stable reported sales ex
petrol on a strong comparable base (+7.9% in Q1 2015)
- Further growth in food sales
- Acceleration of conversion of stores
acquired from Dia, as previously announced; 115 stores converted in
Q1
- Roll-out of omni-channel including the
contribution of Rue du Commerce
First quarter 2016 consolidated sales inc. VAT
The Group posted sales of €20,053m. In the quarter, currencies
and petrol prices had unfavourable impacts of 6.9% and 1.2%
respectively. The calendar effect was +0.6%.
Sales inc. VAT (€m)
LFL ex petrol and ex
calendar
Total growth ex petrol at
constant exch. rates
International
France
10,718
9,335
+5.3%
0.0%
+6.4%
+0.1%
Group 20,053 +3.1%
+3.8%
Total sales under banners including petrol stood at €24.6bn in
the first quarter of 2016, up 2.5% at constant exchange rates.
FIRST QUARTER 2016 INC. VAT
Sales inc. VAT (€m)
LFL ex petrol and ex
calendar
Total growth ex petrol at
constant exch. rates
France 9,335 0.0% +0.1%
International 10,718 +5.3% +6.4%
Other European countries 5,196 +3.2% +2.3% Latin America 3,451
+13.5% +18.3% Asia 2,071 -4.9% -5.2%
In the first quarter, France recorded stable sales ex
petrol (+0.1%), a good performance over the strong +7.9% growth
posted in the first quarter of 2015. Food sales grew in the first
quarter for the fourth consecutive year. The evolution of petrol
prices had an unfavourable impact of 1.9% this quarter.
Like-for-like sales at hypermarkets were down 0.6% on a
strong comparable base of +2.1%. Like-for-like sales at
supermarkets were up by +0.7%, with an equally strong
comparable base of +2.5%, marking the sixth consecutive quarterly
growth in sales.
Like-for-like sales in convenience and other formats were
up +1.1%.
The transformation of stores acquired from Dia has gained pace
since the start of the year: 115 stores were reopened in Q1 2016,
bringing to 267 the number of stores converted to Carrefour banners
since the start of the program.
Like-for-like sales in international activities rose by
5.3%. The calendar effect was +0.6% in the quarter. The currency
impact is strong at -12.6%.
In other European countries, like-for-like sales were up
+3.2%. Every country posted like-for-like growth in the
quarter.
Like-for-like sales in Spain continued to grow, with a
rise of +3.4% in the first quarter. Trends also improved in
Italy, where like-for-like sales were up by +4.5%. Sales in
Belgium were up by +1.0% on a like-for-like basis. They were
also up in Poland and sharply up in Romania.
In Latin America, like-for-like sales were up by +13.5%
(+17.1% on an organic basis). The currency effect was -34.0%.
In Brazil, like-for-like sales were up by +9.9% (+14.3%
on an organic basis) on a strong comparable base of +8.4% in the
first quarter of 2015. All formats posted continued growth.
Like-for-like sales in Argentina rose by +23.6%.
Like-for-like sales in Asia were down 4.9%. China
posted a sequential improvement with like-for-like sales down 8.4%.
In Taiwan, where trends accelerated, sales grew for the
fifth consecutive quarter with like-for-like sales up +8.4%.
VARIATION OF FIRST QUARTER 2016 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 9,335 -1.8% -1.8%
-1.2% 0.0% -0.8% Hypermarkets
4,887 -2.1% -2.1% -2.1% -0.6% -0.6%
Supermarkets 2,991 -2.8% -2,8% -1.7% +0.7% -1.7% Convenience/ other
formats 1,456 +1.4% +1.4% +4.4% +1.1% +0.5%
International 10,718 -6.4% +6.2%
+5.7% +5.3% +6.1%
Other European countries 5,196 +0.9%
+1.3% +2.7% +3.2%
+2.5% Spain 2,024 +0.6% +0.6% +1.9% +3.4% +2.4% Italy 1,332
+1.3% +1.3% +3.9% +4.5% +4.2% Belgium 1,055 +1.2% +1.2% +1.6% +1.0%
+0.6%
Latin America 3,451
-15.2% +18.7% +15.0%
+13.5% +17.1% Brazil 2,665 -12.5% +16.7%
+12.2% +9.9% +14.3%
Asia 2,071
-7.1% -5.2% -4.8%
-4.9% -5.2% China 1,582 -10.8% -8.8% -8.1%
-8.4% -9.1%
Group total 20,053 -4.3%
+2.6% +2.7% +3.1%
+3.2%
EXPANSION UNDER BANNERS – First quarter 2016
Thousands of sq. m.
Dec. 31, 2015
Openings/Store
enlargements
Acquisitions
Closures/ Store
reductions
Total Q1 2016 change
March 31, 2016
France 5,668 14 1 -7 8
5,676 Europe (ex France) 6,039 65 -144 -80 5,959 Latin America
2,258 8 -4 4 2,262 Asia 2,734 22 -47 -25 2,708 Others1 828
37 -3 34 862
Group
17,526 145 1
-205 -60 17,466
STORE NETWORK UNDER BANNERS – First quarter 2016
No. of stores
Dec. 31, 2015
Openings Acquisitions
Closures/ Disposals
Transfers
Total Q1 2016 change
March 31, 2016
Hypermarkets 1,481 7
-8 -1
1,480 France 242 0
242 Europe (ex France) 489 -5 -5 484 Latin America 304 1 -1
0 304 Asia 369 2 -2 0 369
Others1
77 4
4 81
Supermarkets 3,462
68 1 -87 11
-7 3,455 France 1,003 3 1 -2 11 13 1,016
Europe (ex France) 2,096 53 -82 -29 2,067 Latin America 168 0 168
Asia 29 2 2 31 Others1 166 10 -3
7 173
Convenience
7,181 122 -249
-12 -139 7,042 France
4,263 29 -39 -12 -22 4, 241 Europe (ex France) 2,464 78 -206 -128
2, 336 Latin America 404 12 -2 10 414 Asia 8 0 8 Others1 42
3 -2 1 43
Cash & carry 172 1
1 2
174 France 142 1 1 143 Europe (ex France) 18 1 1 19 Others1
12
0 12
Group 12,296
198 1 -344
-145 12,151 France 5,650 32 1 -41 -8 5,642
Europe (ex France) 5,067 132 -293 -161 4,906 Latin America 876 13
-3 10 886 Asia 406 4 -2 2 408 Others1 297 17
-5 12 309
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/20160414006641/en/
CarrefourInvestor Relations:Alessandra Girolami, Matthew Mellin,
Mathilde Rodié, +33 (0)1 41 04 28 83orShareholders Relations, +33
(0)805 902 902 (toll-free in France)orGroup Communication, +33
(0)1 41 04 26 17
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