-- Q2 Sales growth driven by our multi format single brand strategy, our
international activities, and the strength of the Carrefour brand:
-- Strong performance of our smaller formats in France: good comparable
sales trends in supermarkets (+5.2%), convenience stores (+1.5%) and
hard discount (+1.7%)
-- Sustained growth in Spain (+3.4% on a like for like basis) thanks to
promotions and a strong commercial dynamic
-- Significant growth in sales of own label products (+6% in France,
+16.7% in Spain)
-- Increased contribution from growth markets (28% of sales versus 25%
in 2007)
-- French hypermarket sales down 2.4% Lfl, or 5.5% ex fuel, reflecting:
-- A fall in food volumes in national brands
-- An increase in own brand sales
-- A drop in non-food sales
-- Acceleration of our operational action plans:
-- Intensification of promotional activity in the Second Half in our
French hypermarkets
-- Accelerated roll out of Carrefour Market to reach around 150
converted stores at the end of 2008
-- Acceleration of our cost reduction plan and tighter screening of
capital allocation
-- Acceleration of store openings in growth markets
-- Use of Carrefour Property as an improved asset management tool
-- Our objectives for 2008:
-- Growth in sales inc-VAT, and on constant exchange rates, in line
with 2007 (+7.0%)
-- Growth in Activity Contribution broadly in line with sales
-- Generation of EUR 1.5bn of operational free cash flow
-- First Half 2008 outlook:
-- In H1, we expect Group Activity Contribution to grow by at least 5%.
-- This represents a significant acceleration in Activity Contribution
growth compared to the first half of each of the last 3 years, and
reinforces our confidence that we will reach our 2008 targets.
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Contact Information: Contact: Virginie Blin + 33 1 55 63 39 16