H1 2012 sales: €43.7 bn, +0.9%, driven by growth in emerging markets, notably in Latin America, where sales rose 5.3% (+8.3% at constant exchange rates).
Q2 2012 sales: €21.7 bn, broadly stable at -0.3%, supported by sustained growth in emerging markets. Sales trends stabilized in France and Europe.
The first half was marked by three changes in scope:
• End of the franchise agreement with Coop Atlantique effective January 1, 2012
• End of the franchise agreement with Altis effective April 6, 2012
• Integration of Guyenne & Gascogne on June 1, 2012, after the success of the cash tender offer, with a secondary option in shares, followed by a compulsory buyout offer
The calendar effect in France is estimated at -0.6% in the second quarter.
Sales in France fell by 2.1%. The petrol effect is +1.5%, boosted by the success of the "Low Price Guarantee" on petrol launched in May in hypermarkets.
LFL sales at Hypermarkets recorded a drop of 3.5% (-5.7% excluding petrol). Food sales trends improved for the second consecutive quarter. Non-food sales declined, impacted by unfavorable weather conditions that affected apparel and seasonal goods (gardening, camping).
LFL sales at Supermarkets were up 0.8% (-1.4% excluding petrol), with improved food sales. Franchise store activity is up in spite of a high comparable level in the previous year.
The roll-out of Drive accelerated, with the number of outlets rising to 125 at the end of Q2: 67 Drives were opened during the quarter, including 19 in hypermarkets and 48 in supermarkets.
Other formats (especially convenience and cash & carry) recorded sales growth of 4.9%. Excluding petrol, sales grew 3.4% driven by renovated stores. At end-June, the convenience format included 413 City, 348 Contact, 143 Express and 15 Montagne.
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