Member access

4-Traders Homepage  >  Shares  >  Euronext Paris  >  CARREFOUR    CA   FR0000120172

CARREFOUR (CA)

2194
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

CARREFOUR : 1Q Sales Rise On Calendar Effect, Petrol Prices

04/12/2012 | 02:12am US/Eastern

French retail giant Carrefour SA (CA.FR) Thursday reported a 1.5% rise in first-quarter sales, as higher petrol prices and a positive calendar effect offset continued weak consumption in France and Southern Europe.

Carrefour, the world's No. 2 retailer by sales, after U.S.-based Wal-Mart Stores Inc. (WMT), said sales for the first three months of the year rose to EUR22.5 billion, from EUR22.15 billion a year earlier, on a pro-forma basis that takes into account the spinoff of the Dia discount chain last summer.

The performance is in line with analysts' expectations of EUR22.45 billion.

Carrefour's Chairman and Chief Executive Lars Olofsson, who will step down in June, said sales in the first quarter rose thanks to "continued growth in emerging markets". Sales in Southern Europe were impacted by lower non-food spending, while sales in Latin America had a "satisfying performance".

In France, the company's most important market in which it generates more than 40% of annual revenue, sales rose 0.8% to EUR9.36 billion, helped by petrol price inflation, an extra day of business in January and the leap year effect in February. Excluding fuel, sales in France in the first quarter fell 0.5% compared with the same period in 2011.

Sales in Brazil, at a constant foreign exchange rate and excluding petrol sales, rose 8.2% to EUR3.17 billion. Sales in China were down 1.5% at a constant foreign exchange rate at EUR1.66 billion.

After issuing several profit warnings last year, the company has given no guidance for earnings in 2012, saying only that it plans "minimum cost savings of EUR400 million" and tight control of capital expenditure.

Olofsson will hand over to Georges Plassat--the company's third boss in four years--who will shoulder the responsibility of turning around the struggling retail giant.

-By Nadya Masidlover and Inti Landauro, Dow Jones Newswires; +33 1 4017 1740; nadya.masidlover@dowjones.com

Order free Annual Report for Carrefour SA

Visit http://djnweurope.ar.wilink.com/?ticker=FR0000120172 or call +44 (0)208 391 6028

Latest news on CARREFOUR
1d ago CARREFOUR : Alessandra GIROLAMI is appointed Head of Financial Communications of..
1d ago France shows UK grocers how to beat discounters at own game
5d ago Tesco CEO could buy time by selling assets
5d ago Factbox - Tesco CEO could buy time by selling assets
5d ago New Tesco boss likely to sell assets to fund recovery plan
5d ago Southern Europe weighs on Carrefour sales, Brazil robust
5d ago Unibail-Rodamco sells $1.1 billion mall portfolio to Wereldhave
5d agoDJCARREFOUR : Third-Quarter Sales Dip to EUR21.08 Billion
5d ago CARREFOUR : 2014 3rd Quarter Sales
10/13CARREFOUR SA : quaterly sales release
Advertisement
Chart
Duration : Period :
CARREFOUR Technical Analysis Chart | CA | FR0000120172 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF