The FINANCIAL — The Group posted sales of €21,781m in Q3 2016. In the quarter, currencies and petrol prices had unfavorable impacts of 1.7% and 0.8% respectively. The calendar effect was +0.1%.
Over the first nine months of 2016, the Group posted sales of €62,333m. Over the period, currencies and petrol prices had unfavorable impacts of 4.6% and 1.0% respectively. The calendar effect was +0.2%, according to Carrefour.
Total sales under banners including petrol stood at €26.2bn in Q3 and at €75.8bn over the first nine months of 2016, up respectively by 1.4% and 1.6% at constant exchange rates.
In the third quarter, France posted good like-for-like sales in a persistently difficult environment. Total sales were broadly stable ex petrol on the back of strong comparables in Q3 2015 (+5.6%). Food sales were up in the third quarter. The evolution of petrol prices had an unfavorable impact of 0.9% this quarter.
Sales on a comparable basis at hypermarkets are down 1.0% this quarter, a sharp improvement over Q2.
Supermarkets posted a good performance, with like-for-like sales up +3.7% on the back of strong comparables of +2.5%. This constitutes the eighth consecutive quarter of sales growth.
Like-for-like sales in convenience and other formats were up +3.2%.
The transformation of stores acquired from Dia continues: 123 stores were reopened in the third quarter of 2016, bringing the total number of stores converted to Carrefour banners since the start of the plan to 535. The transformation plan will be completed, as announced, at end-2016.
Sales in International activities rose by +4.5% on a like-for-like basis and by +6.5% ex-petrol at constant exchange rates.
In Other European countries, like-for-like sales were up by +1.0%:
In Spain, like-for-like sales continued to grow, rising by +1.0% in the quarter.
Trends also continued in Italy, where like-for-like sales were up +2.2%.
In Belgium, like-for-like sales were stable.
Like-for-like sales were up in Romania and slightly down in Poland.
In Latin America, like-for-like sales were up by +14.2% (+17.0% on an organic basis). The currency effect was -7.2%:
In Brazil, like-for-like sales grew by +12.4% (+16.2% on an organic basis).
Like-for-like sales in Argentina grew by +18.0%. In Asia, like-for-like sales were down 5.0%:
China posted a sequential improvement with like-for-like sales down by 7.8%.
In Taiwan, trends remained the same and sales grew for the seventh consecutive quarter, rising by +3.3% on a like-for-like basis.
Over the first nine months of 2016, France posted like-for-like sales growth of +0.1%.
Like-for-like sales in International activities were up by +5.0% over nine months. They are up +1.8% in Other European countries. Latin America continued to post strong like-for-like growth, at +14.4%. In Asia, like-for-like sales were down 5.2%.
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.
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