Carrefour keeps growth going in fourth quarter

Carrefour keeps growth going in fourth quarter

French supermarket chain Carrefour has had a 3.2 % organic turnover growth in the fourth quarter. Latin America contributed mostly to that growth, but Belgium also kept growing.

22.2 billion euro turnover

Carrefour had a fourth quarter turnover of 22.2 billion euro, a 1.5 % drop in absolute figures, largely because of divestments in Greece, the Far East and Turkey among others. Organic growth (without gas sales and calendar influences) was 3.2 % if exchange rates fluctuations are taken out of consideration.

 

In its own home market France, turnover grew 1.7 %, which means it remains Carrefour’s most important market. All store formats grew for the second quarter in a row, thanks to an aggressive price policy. Hypermarkets grew 1.7 %, supermarkets 1.8 % and convenience stores and online grew 4.6 %.

 

International sales grew 4.2 %, especially thanks to Latin America where Carrefour had an organic 6.8 % growth in Brazil and 32.3 % in Argentina. Asia had a meagre 0.7 % growth, while Europe (excluding France) dropped at that same rate - due to a big decrease in Italy (-5.8 %). Carrefour’s second most important market (Spain) managed growth once more, even though it was only 0.2 %. Belgium also grew, 1.5 %.

 

2.5% growth in 2013

Carrefour’s 2013 turnover dropped 1.2 % to 84.3 billion euro, but it managed a 2.5 % organic growth. Its home market France delivered a 39.72 billion euro turnover, a 1.3 % growth. That is the best result since 2007, according to Chief Financial Officer Pierre-Jean Sivignon.

 

International activities grew 3.5 % to 44.59 billion euro, with Latin America’s 12.6 % growth as a huge bump. “Despite less-favourable exchange rate fluctuations”, Sivignon emphasizes. Analysts expects operation profit to reach 2.19 billion euro.

 

 

 

(Translated by Gary Peeters)

Questions or comments? Please feel free to contact the editors


Fewer customers and lower turnover for H&M

15/12/2017

Swedish H&M Group suffered a 4 % turnover drop in the fourth quarter because its stores welcomed fewer customers.

Hunkemöller is European Retailer of the Year

14/12/2017

Dutch lingerie chain Hunkemöller has been elected “Retail of the Year Europe 2017-2018”. Q&A, which also elects a “Retailer of the Year” in Belgium and the Netherlands, organized the election for the third time.

Amancio Ortega leaves Inditex with strong quarterly growth

14/12/2017

Over the first three quarters of fiscal year 2017, Inditex’ turnover grew 10 % to 17.96 billion euro. The Spanish fashion company published the results as its boss, Amancio Ortega, stepped down.

Glimmer of hope for fashion retail in 2018

08/12/2017

McKinsey wrote in its The State of Fashion 2018 study that the industry has survived the harshest, even though nothing will ever be as it used to be. Growth will come from southern and eastern regions; fast-fashion will become even faster and the large companies will become even larger.

Gucci investigated for tax avoidance

04/12/2017

The Italian police raided Gucci’s offices in Milan and Florence, looking for evidence of tax avoidance. The fashion label admitted there was an investigation and that it is fully cooperating.

Quiksilver wants to acquire Billabong

01/12/2017

Surfing brand Quiksilver tabled a 150 million dollar (125 million euro) bid for its competitor, Billabong. It may be the latter’s only way out, with compounding losses in the past few years.

Back to top