French department store group Carrefour has managed a 20.517 billion euro turnover in its second quarter, up 0.3 % while Belgian turnover grew 3.8 % on a like-for-like basis partly thanks to the Red Devils football team.
Largest growth in convenience stores
Carrefour created a 9.847 billion euro turnover in its home market, France, a 1.8 % increase on a like-for-like basis. Eliminating fuel and calendar effects, its growth would have been 2.1 %. Especially its supermarkets and convenience stores performed well, while hypermarkets only managed a modest increase.
In other European countries, Carrefour managed a 5.331 billion euro turnover, a 2 % increase on a like-for-like basis. If fuel and calendar effects are once again eliminated, the growth would have been 1.5 %.
Red Devils help Belgian branch
The Belgian branch outperformed the average quite easily, with a like-for-like 5 % turnover growth. Excluding fuel and calendar effects, 3.8 % remained. The world championship football and the Red Devils have obviously not missed their mark.
Carrefour's greatest growth was in the emerging markets, where turnover grew 8.4 % on a like-for-like basis, even excluding fuel and calendar effects. Latin America even surged ahead 15.2 % with mainly Brazil and Argentina (up 42.4 %) as its prime contributors.