Sales up 2.1% at European retailer Carrefour in Q3 FY'12

Sales in other countries (Poland, Turkey and Romania) were broadly stable on a LFL basis. Including expansion, they were up 4.6% at constant exchange rates.

The calendar effect in Latin America is not significant in the third quarter. Currency effects were a negative 7.6%, mainly attributable to the depreciation of the Brazilian real and the Argentine peso in the month of September vs. the euro.

Sales in Latin America rose 5.2% and by 12.8% excluding currencies, marking an acceleration over the previous quarter (+7.4%). Expansion was boosted by the reopening of all the acquired Eki stores under the Carrefour banner in Argentina. 

In Brazil, sales excluding petrol at constant exchange rates rose 12.4%, or +9.7% on a LFL basis. Atacadão’s sales growth continued on a tough comparable basis in 2011. Atacadão’s sales reflect both the format’s dynamism and rising prices for staple products. LFL hypermarket sales continued to improve.

Other countries, notably Argentina, recorded growth of 18.1%, or +11.4% on a LFL basis (excluding petrol, at constant exchange rates). 

The calendar effect in Asia was not significant in the third quarter. The 13.8% appreciation of the Chinese currency contributed to a positive 11.2% foreign exchange effect in Asia.

Sales in Asia were up 12.3%. Excluding currencies, sales rose 1.1%. 

Sales in China at constant exchange rates were stable, supported by expansion (+6.2%), in a context marked by economic slowdown.

LFL sales in Other countries were up 2.6%. Sales in Taiwan and Indonesia continued to grow.

Over the past 40 years, the Carrefour group has grown to become one of the world’s leading distribution groups. The world’s second-largest retailer and the largest in Europe, the group currently operates four main grocery store formats: hypermarkets, supermarkets, cash&carry and convenience stores. The Carrefour group currently has over 9,500 stores, either company-operated or franchises.

Carrefour