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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Carrefour    CA   FR0000120172

CARREFOUR (CA)

Real-time Quote. Real-time Tradegate - 09/29 02:08:53 pm
23.248 EUR   +0.90%
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CARREFOUR : 1Q Sales Rise On Calendar Effect, Petrol Prices

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04/12/2012 | 08:12am CEST

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

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Financials (€)
Sales 2016 76 724 M
EBIT 2016 2 453 M
Net income 2016 1 130 M
Debt 2016 4 858 M
Yield 2016 3,28%
P/E ratio 2016 14,81
P/E ratio 2017 12,73
EV / Sales 2016 0,29x
EV / Sales 2017 0,28x
Capitalization 17 424 M
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 27,4 €
Spread / Average Target 19%
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Managers
NameTitle
Georges Plassat Chairman & Chief Executive Officer
Pierre-Jean JÚrome Sivignon Chief Financial Officer & Deputy CEO
Nicolas Bazire Non-Independent Director
Jean-Laurent BonnafÚ Independent Director
Thierry Breton Independent Director
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Sector and Competitors
1st jan.Capitalization (M$)
CARREFOUR-13.55%19 561
ALIMENTATION COUCHE TA..6.22%27 671
EMAAR MALLS GROUP PJSC-0.36%9 674
DAIRY FARM INTERNATION..17.94%9 600
WHOLE FOODS MARKET, IN..-15.16%9 060
CENCOSUD SA--.--%8 723
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