Carrefour registers good market share thru end March

14 Apr '06

2 min read

Carrefour operates hypermarket chain around the world has announce results as follows:

Healthy growth in France:
- Strong like for likes in hypermarkets (+2.7 percent) and supermarkets (+3.2 percent).
- Food volumes increase in hypermarkets (+3.9 percent) and supermarkets (+1.8 percent).
- Market share gains through end March.

Continued weak trends in Europe ex France: deflation, weak volumes generally and lower promotional activities translate into flat like-for-likes for the period.

Good growth in Argentina, Colombia, China and Malaysia.

Weaker trends in Brazil, Taiwan and Thailand.

Strong contribution to sales from the acceleration of new m² begun in 2005: new m² contribute to 4.6 percent to total growth.

Strategy on track:
Customer-focused strategy of committing more resources to stores, while being consistent on price competitiveness, is bearing fruit. Top priority remains price competitiveness.

The growth pipeline is full. Company to open 1.5m m² this year.

Company continues to strengthen asset portfolio with the announcement of intention to find external solutions for assets in Korea.

All are on track to reach our target of higher sales growth in 2006 than in 2005.

Changes to Group perimeter
Pro forma Q1 2005 sales including VAT have been adjusted to take into account the deconsolidation as of the 1st January 2005 of the Czech Republic, Slovakia, Prodirest, Puntocash, and a number of Spanish and Brazilian supermarkets. 2005 full year Group sales reported in March 2006 have already taken into account the deconsolidation of these activities.

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