Earnings Release • Jan 16, 2014
Earnings Release
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• The Group is comfortable with the consensus, which stands at €2.19bn
| Fourth quarter 2013 sales inc. VAT2 | ||||
|---|---|---|---|---|
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
| France International |
39,726 44,598 |
+0.2% -2.5% |
+1.0% +3.4% |
+1.3% +3.5% |
| Total Group | 84,324 | -1.2% | +2.3% | +2.5% |
For the full-year 2013, total sales under banners stood at €100.2bn, up 1.5% at constant exchange rates.
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
|---|---|---|---|---|
| France International |
10,604 11,593 |
+0.3% -3.1% |
+2.0% +4.3% |
+1.7% +4.2% |
| Total Group | 22,197 | -1.5% | +3.4% | +3.2% |
In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.
Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.
1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
2 Figures are proforma, excluding discontinued activities.
| Change inc. petrol | Change ex-petrol | Change ex.petrol ex. calendar |
||||||
|---|---|---|---|---|---|---|---|---|
| €m | LFL | Organic growth |
Total | LFL | Organic growth |
Total | Organic growth | |
| Hypermarkets | 6,097 | 0.0% | +0.3% | +0.3% | +1.4% | +1.7% | +1.7% | +1.3% |
| Supermarkets | 3,376 | +0.4% | -0.5% | -0.5% | +2.9% | +1.8% | +1.8% | +2.1% |
| Convenience and other formats | 1,131 | +2.2% | +2.7% | +2.7% | +4.4% | +4.6% | +4.6% | +4.3% |
| France | 10,604 | +0.4% | +0.3% | +0.3% | +2.2% | +2.0% | +2.0% | +1.7% |
Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.
Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.
Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.
Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).
3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Other European countries |
5,991 | -1.6% | -1.0% | -0.7% | -1.4% | -0.7% | -0.4% | -0.8% | -0.7% |
| Latin America | 3,973 | +11.3% | +12.7% | +11.9% | +11.1% | +12.6% | +11.8% | -6.9% | +12.6% |
| Asia | 1,629 | -2.9% | +1.3% | +1.3% | -2.9% | +1.3% | +1.3% | -1.9% | +0.7% |
| International | 11,593 | +2.7% | +4.2% | +4.1% | +2.8% | +4.3% | +4.2% | -3.1% | +4.2% |
The Group's international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.
Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.
Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.
Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.
In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.
Organic sales in Asia were up 1.3%.
In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.
4 Figures are proforma, excluding discontinued activities.
5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Hypermarkets | 21,918 | -0,3% | +0.1% | +0.1% | +0.2% | +0.7% | +0.7% | +0.1% | +1.0% |
| Supermarkets | 13,253 | +0,2% | -0.7% | -0.7% | +0.9% | +0.6% | +0.6% | -0.7% | +1.0% |
| Convenience and others |
4,556 | +3,8% | +3.7% | +3.7% | +3.7% | +4.0% | +4.0% | +3.7% | +4.2% |
| France | 39,726 | +0,3% | +0.2% | +0.2% | +0.8% | +1.0% | +1.0% | +0.2% | +1.3% |
| Other European countries |
21,790 | -2.9% | -2.8% | -2.6% | -2.8% | -2.8% | -2.5% | -2.6% | -2.6% |
| Latin America | 15,536 | +11.2% | +12.4% | +12.2% | +10.9% | +12.3% | +12.1% | -3.7% | +12.6% |
| Asia | 7,272 | -1.9% | +2.2% | +2.2% | -1.9% | +2.2% | +2.2% | +0.8% | +1.9% |
| International | 44,598 | +2.2% | +3.4% | +3.4% | +2.1% | +3.4% | +3.4% | -2.5% | +3.5% |
| Group | 84,324 | +1.3% | +1.9% | +1.9% | +1.6% | +2.3% | +2.4% | -1.2% | +2.5% |
6 Figures are proforma, excluding discontinued activities.
In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.
| Thousands of sq. m | 31 Dec. 20127 |
30 Sep. 2013 |
Opening/Store enlargements |
Acquisitions | Closures/ Store reductions |
Transfers | Disposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| France | 5,075 | 5,061 | 18 | -8 | 10 | 5,071 | |||
| Europe (ex. Fr) | 5,630 | 5,499 | 67 | -28 | 40 | 5,539 | |||
| Latin America | 2,045 | 2,065 | 30 | -7 | 23 | 2,088 | |||
| Asia | 2,592 | 2,644 | 126 | -5 | 121 | 2,765 | |||
| Others8 | 608 | 689 | 23 | -1 | 22 | 712 | |||
| Group | 15,949 | 15,958 | 264 | -49 | 215 | 16,176 |
In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).
| No. of stores | 31 Dec. 20127 |
30 Sep. 2013 | Openings | Acquisitions | Closures | Transfers | Diposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| Hypermarkets | 1,366 | 1,386 | 24 | -2 | 13 | 35 | 1,421 | ||
| France | 232 | 234 | 234 | ||||||
| Europe (ex Fr) | 457 | 460 | 2 | 13 | 15 | 475 | |||
| Latin America | 272 | 273 | 5 | -1 | 4 | 277 | |||
| Asia | 350 | 357 | 15 | -1 | 14 | 371 | |||
| Others8 | 55 | 62 | 2 | 2 | 64 | ||||
| Supermarkets | 2,986 | 2,878 | 73 | -21 | -13 | 38 | 2,917 | ||
| France | 964 | 949 | 949 | ||||||
| Europe (ex Fr) | 1,728 | 1,624 | 66 | -20 | -13 | 32 | 1,656 | ||
| Latin America | 168 | 168 | 1 | 1 | 169 | ||||
| Asia | 16 | 17 | 17 | ||||||
| Others8 | 110 | 120 | 6 | -1 | 5 | 126 | |||
| Convenience | 5,479 | 5,456 | 214 | -78 | 137 | 5,593 | |||
| France | 3,405 | 3,425 | 85 | -52 | 33 | 3,458 | |||
| Europe (ex Fr) | 1,819 | 1,717 | 102 | -25 | 78 | 1,795 | |||
| Latin America | 235 | 292 | 25 | -1 | 24 | 316 | |||
| Asia | 0 | 0 | 0 | ||||||
| Others8 | 20 | 22 | 2 | 2 | 24 | ||||
| Cash & carry | 164 | 173 | 2 | -1 | 1 | 174 | |||
| France | 140 | 139 | -1 | -1 | 138 | ||||
| Europe (ex Fr) | 14 | 19 | 19 | ||||||
| Asia | 4 | 4 | 1 | 1 | 5 | ||||
| Others8 | 6 | 11 | 1 | 1 | 12 | ||||
| Group | 9,995 | 9,893 | 313 | -102 | 212 | 10,105 | |||
| France | 4,741 | 4,747 | 85 | -53 | 32 | 4,779 | |||
| Europe (ex Fr) | 4,018 | 3,820 | 170 | -45 | 125 | 3,945 | |||
| Latin America | 675 | 733 | 31 | -2 | 29 | 762 | |||
| Asia | 370 | 378 | 16 | -1 | 15 | 393 | |||
| Others8 | 191 | 215 | 11 | -1 | 10 | 226 |
7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.
8 Maghreb, Middle East and Dominican Republic.
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.
Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.
Sales under banners: Total sales under banners including sales by franchisees and international partnerships.
• The Group is comfortable with the consensus, which stands at €2.19bn
| Fourth quarter 2013 sales inc. VAT2 | ||||
|---|---|---|---|---|
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
| France International |
39,726 44,598 |
+0.2% -2.5% |
+1.0% +3.4% |
+1.3% +3.5% |
| Total Group | 84,324 | -1.2% | +2.3% | +2.5% |
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
|---|---|---|---|---|
| France International |
10,604 11,593 |
+0.3% -3.1% |
+2.0% +4.3% |
+1.7% +4.2% |
| Total Group | 22,197 | -1.5% | +3.4% | +3.2% |
In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.
Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.
1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
2 Figures are proforma, excluding discontinued activities.
| Change inc. petrol | Change ex-petrol | Change ex.petrol ex. calendar |
||||||
|---|---|---|---|---|---|---|---|---|
| €m | LFL | Organic growth |
Total | LFL | Organic growth |
Total | Organic growth | |
| Hypermarkets | 6,097 | 0.0% | +0.3% | +0.3% | +1.4% | +1.7% | +1.7% | +1.3% |
| Supermarkets | 3,376 | +0.4% | -0.5% | -0.5% | +2.9% | +1.8% | +1.8% | +2.1% |
| Convenience and other formats | 1,131 | +2.2% | +2.7% | +2.7% | +4.4% | +4.6% | +4.6% | +4.3% |
| France | 10,604 | +0.4% | +0.3% | +0.3% | +2.2% | +2.0% | +2.0% | +1.7% |
Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.
Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.
Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.
Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).
3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Other European countries |
5,991 | -1.6% | -1.0% | -0.7% | -1.4% | -0.7% | -0.4% | -0.8% | -0.7% |
| Latin America | 3,973 | +11.3% | +12.7% | +11.9% | +11.1% | +12.6% | +11.8% | -6.9% | +12.6% |
| Asia | 1,629 | -2.9% | +1.3% | +1.3% | -2.9% | +1.3% | +1.3% | -1.9% | +0.7% |
| International | 11,593 | +2.7% | +4.2% | +4.1% | +2.8% | +4.3% | +4.2% | -3.1% | +4.2% |
The Group's international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.
Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.
Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.
Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.
In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.
Organic sales in Asia were up 1.3%.
In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.
4 Figures are proforma, excluding discontinued activities.
5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Hypermarkets | 21,918 | -0,3% | +0.1% | +0.1% | +0.2% | +0.7% | +0.7% | +0.1% | +1.0% |
| Supermarkets | 13,253 | +0,2% | -0.7% | -0.7% | +0.9% | +0.6% | +0.6% | -0.7% | +1.0% |
| Convenience and others |
4,556 | +3,8% | +3.7% | +3.7% | +3.7% | +4.0% | +4.0% | +3.7% | +4.2% |
| France | 39,726 | +0,3% | +0.2% | +0.2% | +0.8% | +1.0% | +1.0% | +0.2% | +1.3% |
| Other European countries |
21,790 | -2.9% | -2.8% | -2.6% | -2.8% | -2.8% | -2.5% | -2.6% | -2.6% |
| Latin America | 15,536 | +11.2% | +12.4% | +12.2% | +10.9% | +12.3% | +12.1% | -3.7% | +12.6% |
| Asia | 7,272 | -1.9% | +2.2% | +2.2% | -1.9% | +2.2% | +2.2% | +0.8% | +1.9% |
| International | 44,598 | +2.2% | +3.4% | +3.4% | +2.1% | +3.4% | +3.4% | -2.5% | +3.5% |
| Group | 84,324 | +1.3% | +1.9% | +1.9% | +1.6% | +2.3% | +2.4% | -1.2% | +2.5% |
6 Figures are proforma, excluding discontinued activities.
In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.
| Thousands of sq. m | 31 Dec. 20127 |
30 Sep. 2013 |
Opening/Store enlargements |
Acquisitions | Closures/ Store reductions |
Transfers | Disposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| France | 5,075 | 5,061 | 18 | -8 | 10 | 5,071 | |||
| Europe (ex. Fr) | 5,630 | 5,499 | 67 | -28 | 40 | 5,539 | |||
| Latin America | 2,045 | 2,065 | 30 | -7 | 23 | 2,088 | |||
| Asia | 2,592 | 2,644 | 126 | -5 | 121 | 2,765 | |||
| Others8 | 608 | 689 | 23 | -1 | 22 | 712 | |||
| Group | 15,949 | 15,958 | 264 | -49 | 215 | 16,176 |
In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).
| No. of stores | 31 Dec. 20127 |
30 Sep. 2013 | Openings | Acquisitions | Closures | Transfers | Diposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| Hypermarkets | 1,366 | 1,386 | 24 | -2 | 13 | 35 | 1,421 | ||
| France | 232 | 234 | 234 | ||||||
| Europe (ex Fr) | 457 | 460 | 2 | 13 | 15 | 475 | |||
| Latin America | 272 | 273 | 5 | -1 | 4 | 277 | |||
| Asia | 350 | 357 | 15 | -1 | 14 | 371 | |||
| Others8 | 55 | 62 | 2 | 2 | 64 | ||||
| Supermarkets | 2,986 | 2,878 | 73 | -21 | -13 | 38 | 2,917 | ||
| France | 964 | 949 | 949 | ||||||
| Europe (ex Fr) | 1,728 | 1,624 | 66 | -20 | -13 | 32 | 1,656 | ||
| Latin America | 168 | 168 | 1 | 1 | 169 | ||||
| Asia | 16 | 17 | 17 | ||||||
| Others8 | 110 | 120 | 6 | -1 | 5 | 126 | |||
| Convenience | 5,479 | 5,456 | 214 | -78 | 137 | 5,593 | |||
| France | 3,405 | 3,425 | 85 | -52 | 33 | 3,458 | |||
| Europe (ex Fr) | 1,819 | 1,717 | 102 | -25 | 78 | 1,795 | |||
| Latin America | 235 | 292 | 25 | -1 | 24 | 316 | |||
| Asia | 0 | 0 | 0 | ||||||
| Others8 | 20 | 22 | 2 | 2 | 24 | ||||
| Cash & carry | 164 | 173 | 2 | -1 | 1 | 174 | |||
| France | 140 | 139 | -1 | -1 | 138 | ||||
| Europe (ex Fr) | 14 | 19 | 19 | ||||||
| Asia | 4 | 4 | 1 | 1 | 5 | ||||
| Others8 | 6 | 11 | 1 | 1 | 12 | ||||
| Group | 9,995 | 9,893 | 313 | -102 | 212 | 10,105 | |||
| France | 4,741 | 4,747 | 85 | -53 | 32 | 4,779 | |||
| Europe (ex Fr) | 4,018 | 3,820 | 170 | -45 | 125 | 3,945 | |||
| Latin America | 675 | 733 | 31 | -2 | 29 | 762 | |||
| Asia | 370 | 378 | 16 | -1 | 15 | 393 | |||
| Others8 | 191 | 215 | 11 | -1 | 10 | 226 |
7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.
8 Maghreb, Middle East and Dominican Republic.
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.
Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.
Sales under banners: Total sales under banners including sales by franchisees and international partnerships.
• The Group is comfortable with the consensus, which stands at €2.19bn
| Fourth quarter 2013 sales inc. VAT2 | ||||
|---|---|---|---|---|
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
| France International |
39,726 44,598 |
+0.2% -2.5% |
+1.0% +3.4% |
+1.3% +3.5% |
| Total Group | 84,324 | -1.2% | +2.3% | +2.5% |
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
|---|---|---|---|---|
| France International |
10,604 11,593 |
+0.3% -3.1% |
+2.0% +4.3% |
+1.7% +4.2% |
| Total Group | 22,197 | -1.5% | +3.4% | +3.2% |
In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.
Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.
1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
2 Figures are proforma, excluding discontinued activities.
| Change inc. petrol | Change ex-petrol | Change ex.petrol ex. calendar |
||||||
|---|---|---|---|---|---|---|---|---|
| €m | LFL | Organic growth |
Total | LFL | Organic growth |
Total | Organic growth | |
| Hypermarkets | 6,097 | 0.0% | +0.3% | +0.3% | +1.4% | +1.7% | +1.7% | +1.3% |
| Supermarkets | 3,376 | +0.4% | -0.5% | -0.5% | +2.9% | +1.8% | +1.8% | +2.1% |
| Convenience and other formats | 1,131 | +2.2% | +2.7% | +2.7% | +4.4% | +4.6% | +4.6% | +4.3% |
| France | 10,604 | +0.4% | +0.3% | +0.3% | +2.2% | +2.0% | +2.0% | +1.7% |
Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.
Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.
Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.
Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).
3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Other European countries |
5,991 | -1.6% | -1.0% | -0.7% | -1.4% | -0.7% | -0.4% | -0.8% | -0.7% |
| Latin America | 3,973 | +11.3% | +12.7% | +11.9% | +11.1% | +12.6% | +11.8% | -6.9% | +12.6% |
| Asia | 1,629 | -2.9% | +1.3% | +1.3% | -2.9% | +1.3% | +1.3% | -1.9% | +0.7% |
| International | 11,593 | +2.7% | +4.2% | +4.1% | +2.8% | +4.3% | +4.2% | -3.1% | +4.2% |
The Group's international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.
Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.
Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.
Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.
In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.
Organic sales in Asia were up 1.3%.
In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.
4 Figures are proforma, excluding discontinued activities.
5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Hypermarkets | 21,918 | -0,3% | +0.1% | +0.1% | +0.2% | +0.7% | +0.7% | +0.1% | +1.0% |
| Supermarkets | 13,253 | +0,2% | -0.7% | -0.7% | +0.9% | +0.6% | +0.6% | -0.7% | +1.0% |
| Convenience and others |
4,556 | +3,8% | +3.7% | +3.7% | +3.7% | +4.0% | +4.0% | +3.7% | +4.2% |
| France | 39,726 | +0,3% | +0.2% | +0.2% | +0.8% | +1.0% | +1.0% | +0.2% | +1.3% |
| Other European countries |
21,790 | -2.9% | -2.8% | -2.6% | -2.8% | -2.8% | -2.5% | -2.6% | -2.6% |
| Latin America | 15,536 | +11.2% | +12.4% | +12.2% | +10.9% | +12.3% | +12.1% | -3.7% | +12.6% |
| Asia | 7,272 | -1.9% | +2.2% | +2.2% | -1.9% | +2.2% | +2.2% | +0.8% | +1.9% |
| International | 44,598 | +2.2% | +3.4% | +3.4% | +2.1% | +3.4% | +3.4% | -2.5% | +3.5% |
| Group | 84,324 | +1.3% | +1.9% | +1.9% | +1.6% | +2.3% | +2.4% | -1.2% | +2.5% |
6 Figures are proforma, excluding discontinued activities.
In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.
| Thousands of sq. m | 31 Dec. 20127 |
30 Sep. 2013 |
Opening/Store enlargements |
Acquisitions | Closures/ Store reductions |
Transfers | Disposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| France | 5,075 | 5,061 | 18 | -8 | 10 | 5,071 | |||
| Europe (ex. Fr) | 5,630 | 5,499 | 67 | -28 | 40 | 5,539 | |||
| Latin America | 2,045 | 2,065 | 30 | -7 | 23 | 2,088 | |||
| Asia | 2,592 | 2,644 | 126 | -5 | 121 | 2,765 | |||
| Others8 | 608 | 689 | 23 | -1 | 22 | 712 | |||
| Group | 15,949 | 15,958 | 264 | -49 | 215 | 16,176 |
In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).
| No. of stores | 31 Dec. 20127 |
30 Sep. 2013 | Openings | Acquisitions | Closures | Transfers | Diposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| Hypermarkets | 1,366 | 1,386 | 24 | -2 | 13 | 35 | 1,421 | ||
| France | 232 | 234 | 234 | ||||||
| Europe (ex Fr) | 457 | 460 | 2 | 13 | 15 | 475 | |||
| Latin America | 272 | 273 | 5 | -1 | 4 | 277 | |||
| Asia | 350 | 357 | 15 | -1 | 14 | 371 | |||
| Others8 | 55 | 62 | 2 | 2 | 64 | ||||
| Supermarkets | 2,986 | 2,878 | 73 | -21 | -13 | 38 | 2,917 | ||
| France | 964 | 949 | 949 | ||||||
| Europe (ex Fr) | 1,728 | 1,624 | 66 | -20 | -13 | 32 | 1,656 | ||
| Latin America | 168 | 168 | 1 | 1 | 169 | ||||
| Asia | 16 | 17 | 17 | ||||||
| Others8 | 110 | 120 | 6 | -1 | 5 | 126 | |||
| Convenience | 5,479 | 5,456 | 214 | -78 | 137 | 5,593 | |||
| France | 3,405 | 3,425 | 85 | -52 | 33 | 3,458 | |||
| Europe (ex Fr) | 1,819 | 1,717 | 102 | -25 | 78 | 1,795 | |||
| Latin America | 235 | 292 | 25 | -1 | 24 | 316 | |||
| Asia | 0 | 0 | 0 | ||||||
| Others8 | 20 | 22 | 2 | 2 | 24 | ||||
| Cash & carry | 164 | 173 | 2 | -1 | 1 | 174 | |||
| France | 140 | 139 | -1 | -1 | 138 | ||||
| Europe (ex Fr) | 14 | 19 | 19 | ||||||
| Asia | 4 | 4 | 1 | 1 | 5 | ||||
| Others8 | 6 | 11 | 1 | 1 | 12 | ||||
| Group | 9,995 | 9,893 | 313 | -102 | 212 | 10,105 | |||
| France | 4,741 | 4,747 | 85 | -53 | 32 | 4,779 | |||
| Europe (ex Fr) | 4,018 | 3,820 | 170 | -45 | 125 | 3,945 | |||
| Latin America | 675 | 733 | 31 | -2 | 29 | 762 | |||
| Asia | 370 | 378 | 16 | -1 | 15 | 393 | |||
| Others8 | 191 | 215 | 11 | -1 | 10 | 226 |
7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.
8 Maghreb, Middle East and Dominican Republic.
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.
Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.
Sales under banners: Total sales under banners including sales by franchisees and international partnerships.
• The Group is comfortable with the consensus, which stands at €2.19bn
| Fourth quarter 2013 sales inc. VAT2 | ||||
|---|---|---|---|---|
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
| France International |
39,726 44,598 |
+0.2% -2.5% |
+1.0% +3.4% |
+1.3% +3.5% |
| Total Group | 84,324 | -1.2% | +2.3% | +2.5% |
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
|---|---|---|---|---|
| France International |
10,604 11,593 |
+0.3% -3.1% |
+2.0% +4.3% |
+1.7% +4.2% |
| Total Group | 22,197 | -1.5% | +3.4% | +3.2% |
In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.
Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.
1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
2 Figures are proforma, excluding discontinued activities.
| Change inc. petrol | Change ex-petrol | Change ex.petrol ex. calendar |
||||||
|---|---|---|---|---|---|---|---|---|
| €m | LFL | Organic growth |
Total | LFL | Organic growth |
Total | Organic growth | |
| Hypermarkets | 6,097 | 0.0% | +0.3% | +0.3% | +1.4% | +1.7% | +1.7% | +1.3% |
| Supermarkets | 3,376 | +0.4% | -0.5% | -0.5% | +2.9% | +1.8% | +1.8% | +2.1% |
| Convenience and other formats | 1,131 | +2.2% | +2.7% | +2.7% | +4.4% | +4.6% | +4.6% | +4.3% |
| France | 10,604 | +0.4% | +0.3% | +0.3% | +2.2% | +2.0% | +2.0% | +1.7% |
Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.
Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.
Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.
Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).
3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Other European countries |
5,991 | -1.6% | -1.0% | -0.7% | -1.4% | -0.7% | -0.4% | -0.8% | -0.7% |
| Latin America | 3,973 | +11.3% | +12.7% | +11.9% | +11.1% | +12.6% | +11.8% | -6.9% | +12.6% |
| Asia | 1,629 | -2.9% | +1.3% | +1.3% | -2.9% | +1.3% | +1.3% | -1.9% | +0.7% |
| International | 11,593 | +2.7% | +4.2% | +4.1% | +2.8% | +4.3% | +4.2% | -3.1% | +4.2% |
The Group's international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.
Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.
Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.
Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.
In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.
Organic sales in Asia were up 1.3%.
In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.
4 Figures are proforma, excluding discontinued activities.
5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Hypermarkets | 21,918 | -0,3% | +0.1% | +0.1% | +0.2% | +0.7% | +0.7% | +0.1% | +1.0% |
| Supermarkets | 13,253 | +0,2% | -0.7% | -0.7% | +0.9% | +0.6% | +0.6% | -0.7% | +1.0% |
| Convenience and others |
4,556 | +3,8% | +3.7% | +3.7% | +3.7% | +4.0% | +4.0% | +3.7% | +4.2% |
| France | 39,726 | +0,3% | +0.2% | +0.2% | +0.8% | +1.0% | +1.0% | +0.2% | +1.3% |
| Other European countries |
21,790 | -2.9% | -2.8% | -2.6% | -2.8% | -2.8% | -2.5% | -2.6% | -2.6% |
| Latin America | 15,536 | +11.2% | +12.4% | +12.2% | +10.9% | +12.3% | +12.1% | -3.7% | +12.6% |
| Asia | 7,272 | -1.9% | +2.2% | +2.2% | -1.9% | +2.2% | +2.2% | +0.8% | +1.9% |
| International | 44,598 | +2.2% | +3.4% | +3.4% | +2.1% | +3.4% | +3.4% | -2.5% | +3.5% |
| Group | 84,324 | +1.3% | +1.9% | +1.9% | +1.6% | +2.3% | +2.4% | -1.2% | +2.5% |
6 Figures are proforma, excluding discontinued activities.
In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.
| Thousands of sq. m | 31 Dec. 20127 |
30 Sep. 2013 |
Opening/Store enlargements |
Acquisitions | Closures/ Store reductions |
Transfers | Disposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| France | 5,075 | 5,061 | 18 | -8 | 10 | 5,071 | |||
| Europe (ex. Fr) | 5,630 | 5,499 | 67 | -28 | 40 | 5,539 | |||
| Latin America | 2,045 | 2,065 | 30 | -7 | 23 | 2,088 | |||
| Asia | 2,592 | 2,644 | 126 | -5 | 121 | 2,765 | |||
| Others8 | 608 | 689 | 23 | -1 | 22 | 712 | |||
| Group | 15,949 | 15,958 | 264 | -49 | 215 | 16,176 |
In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).
| No. of stores | 31 Dec. 20127 |
30 Sep. 2013 | Openings | Acquisitions | Closures | Transfers | Diposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| Hypermarkets | 1,366 | 1,386 | 24 | -2 | 13 | 35 | 1,421 | ||
| France | 232 | 234 | 234 | ||||||
| Europe (ex Fr) | 457 | 460 | 2 | 13 | 15 | 475 | |||
| Latin America | 272 | 273 | 5 | -1 | 4 | 277 | |||
| Asia | 350 | 357 | 15 | -1 | 14 | 371 | |||
| Others8 | 55 | 62 | 2 | 2 | 64 | ||||
| Supermarkets | 2,986 | 2,878 | 73 | -21 | -13 | 38 | 2,917 | ||
| France | 964 | 949 | 949 | ||||||
| Europe (ex Fr) | 1,728 | 1,624 | 66 | -20 | -13 | 32 | 1,656 | ||
| Latin America | 168 | 168 | 1 | 1 | 169 | ||||
| Asia | 16 | 17 | 17 | ||||||
| Others8 | 110 | 120 | 6 | -1 | 5 | 126 | |||
| Convenience | 5,479 | 5,456 | 214 | -78 | 137 | 5,593 | |||
| France | 3,405 | 3,425 | 85 | -52 | 33 | 3,458 | |||
| Europe (ex Fr) | 1,819 | 1,717 | 102 | -25 | 78 | 1,795 | |||
| Latin America | 235 | 292 | 25 | -1 | 24 | 316 | |||
| Asia | 0 | 0 | 0 | ||||||
| Others8 | 20 | 22 | 2 | 2 | 24 | ||||
| Cash & carry | 164 | 173 | 2 | -1 | 1 | 174 | |||
| France | 140 | 139 | -1 | -1 | 138 | ||||
| Europe (ex Fr) | 14 | 19 | 19 | ||||||
| Asia | 4 | 4 | 1 | 1 | 5 | ||||
| Others8 | 6 | 11 | 1 | 1 | 12 | ||||
| Group | 9,995 | 9,893 | 313 | -102 | 212 | 10,105 | |||
| France | 4,741 | 4,747 | 85 | -53 | 32 | 4,779 | |||
| Europe (ex Fr) | 4,018 | 3,820 | 170 | -45 | 125 | 3,945 | |||
| Latin America | 675 | 733 | 31 | -2 | 29 | 762 | |||
| Asia | 370 | 378 | 16 | -1 | 15 | 393 | |||
| Others8 | 191 | 215 | 11 | -1 | 10 | 226 |
7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.
8 Maghreb, Middle East and Dominican Republic.
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.
Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.
Sales under banners: Total sales under banners including sales by franchisees and international partnerships.
• The Group is comfortable with the consensus, which stands at €2.19bn
| Fourth quarter 2013 sales inc. VAT2 | ||||
|---|---|---|---|---|
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
| France International |
39,726 44,598 |
+0.2% -2.5% |
+1.0% +3.4% |
+1.3% +3.5% |
| Total Group | 84,324 | -1.2% | +2.3% | +2.5% |
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
|---|---|---|---|---|
| France International |
10,604 11,593 |
+0.3% -3.1% |
+2.0% +4.3% |
+1.7% +4.2% |
| Total Group | 22,197 | -1.5% | +3.4% | +3.2% |
In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.
Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.
1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
2 Figures are proforma, excluding discontinued activities.
| Change inc. petrol | Change ex-petrol | Change ex.petrol ex. calendar |
||||||
|---|---|---|---|---|---|---|---|---|
| €m | LFL | Organic growth |
Total | LFL | Organic growth |
Total | Organic growth | |
| Hypermarkets | 6,097 | 0.0% | +0.3% | +0.3% | +1.4% | +1.7% | +1.7% | +1.3% |
| Supermarkets | 3,376 | +0.4% | -0.5% | -0.5% | +2.9% | +1.8% | +1.8% | +2.1% |
| Convenience and other formats | 1,131 | +2.2% | +2.7% | +2.7% | +4.4% | +4.6% | +4.6% | +4.3% |
| France | 10,604 | +0.4% | +0.3% | +0.3% | +2.2% | +2.0% | +2.0% | +1.7% |
Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.
Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.
Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.
Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).
3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Other European countries |
5,991 | -1.6% | -1.0% | -0.7% | -1.4% | -0.7% | -0.4% | -0.8% | -0.7% |
| Latin America | 3,973 | +11.3% | +12.7% | +11.9% | +11.1% | +12.6% | +11.8% | -6.9% | +12.6% |
| Asia | 1,629 | -2.9% | +1.3% | +1.3% | -2.9% | +1.3% | +1.3% | -1.9% | +0.7% |
| International | 11,593 | +2.7% | +4.2% | +4.1% | +2.8% | +4.3% | +4.2% | -3.1% | +4.2% |
The Group's international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.
Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.
Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.
Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.
In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.
Organic sales in Asia were up 1.3%.
In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.
4 Figures are proforma, excluding discontinued activities.
5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Hypermarkets | 21,918 | -0,3% | +0.1% | +0.1% | +0.2% | +0.7% | +0.7% | +0.1% | +1.0% |
| Supermarkets | 13,253 | +0,2% | -0.7% | -0.7% | +0.9% | +0.6% | +0.6% | -0.7% | +1.0% |
| Convenience and others |
4,556 | +3,8% | +3.7% | +3.7% | +3.7% | +4.0% | +4.0% | +3.7% | +4.2% |
| France | 39,726 | +0,3% | +0.2% | +0.2% | +0.8% | +1.0% | +1.0% | +0.2% | +1.3% |
| Other European countries |
21,790 | -2.9% | -2.8% | -2.6% | -2.8% | -2.8% | -2.5% | -2.6% | -2.6% |
| Latin America | 15,536 | +11.2% | +12.4% | +12.2% | +10.9% | +12.3% | +12.1% | -3.7% | +12.6% |
| Asia | 7,272 | -1.9% | +2.2% | +2.2% | -1.9% | +2.2% | +2.2% | +0.8% | +1.9% |
| International | 44,598 | +2.2% | +3.4% | +3.4% | +2.1% | +3.4% | +3.4% | -2.5% | +3.5% |
| Group | 84,324 | +1.3% | +1.9% | +1.9% | +1.6% | +2.3% | +2.4% | -1.2% | +2.5% |
6 Figures are proforma, excluding discontinued activities.
In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.
| Thousands of sq. m | 31 Dec. 20127 |
30 Sep. 2013 |
Opening/Store enlargements |
Acquisitions | Closures/ Store reductions |
Transfers | Disposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| France | 5,075 | 5,061 | 18 | -8 | 10 | 5,071 | |||
| Europe (ex. Fr) | 5,630 | 5,499 | 67 | -28 | 40 | 5,539 | |||
| Latin America | 2,045 | 2,065 | 30 | -7 | 23 | 2,088 | |||
| Asia | 2,592 | 2,644 | 126 | -5 | 121 | 2,765 | |||
| Others8 | 608 | 689 | 23 | -1 | 22 | 712 | |||
| Group | 15,949 | 15,958 | 264 | -49 | 215 | 16,176 |
In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).
| No. of stores | 31 Dec. 20127 |
30 Sep. 2013 | Openings | Acquisitions | Closures | Transfers | Diposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| Hypermarkets | 1,366 | 1,386 | 24 | -2 | 13 | 35 | 1,421 | ||
| France | 232 | 234 | 234 | ||||||
| Europe (ex Fr) | 457 | 460 | 2 | 13 | 15 | 475 | |||
| Latin America | 272 | 273 | 5 | -1 | 4 | 277 | |||
| Asia | 350 | 357 | 15 | -1 | 14 | 371 | |||
| Others8 | 55 | 62 | 2 | 2 | 64 | ||||
| Supermarkets | 2,986 | 2,878 | 73 | -21 | -13 | 38 | 2,917 | ||
| France | 964 | 949 | 949 | ||||||
| Europe (ex Fr) | 1,728 | 1,624 | 66 | -20 | -13 | 32 | 1,656 | ||
| Latin America | 168 | 168 | 1 | 1 | 169 | ||||
| Asia | 16 | 17 | 17 | ||||||
| Others8 | 110 | 120 | 6 | -1 | 5 | 126 | |||
| Convenience | 5,479 | 5,456 | 214 | -78 | 137 | 5,593 | |||
| France | 3,405 | 3,425 | 85 | -52 | 33 | 3,458 | |||
| Europe (ex Fr) | 1,819 | 1,717 | 102 | -25 | 78 | 1,795 | |||
| Latin America | 235 | 292 | 25 | -1 | 24 | 316 | |||
| Asia | 0 | 0 | 0 | ||||||
| Others8 | 20 | 22 | 2 | 2 | 24 | ||||
| Cash & carry | 164 | 173 | 2 | -1 | 1 | 174 | |||
| France | 140 | 139 | -1 | -1 | 138 | ||||
| Europe (ex Fr) | 14 | 19 | 19 | ||||||
| Asia | 4 | 4 | 1 | 1 | 5 | ||||
| Others8 | 6 | 11 | 1 | 1 | 12 | ||||
| Group | 9,995 | 9,893 | 313 | -102 | 212 | 10,105 | |||
| France | 4,741 | 4,747 | 85 | -53 | 32 | 4,779 | |||
| Europe (ex Fr) | 4,018 | 3,820 | 170 | -45 | 125 | 3,945 | |||
| Latin America | 675 | 733 | 31 | -2 | 29 | 762 | |||
| Asia | 370 | 378 | 16 | -1 | 15 | 393 | |||
| Others8 | 191 | 215 | 11 | -1 | 10 | 226 |
7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.
8 Maghreb, Middle East and Dominican Republic.
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.
Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.
Sales under banners: Total sales under banners including sales by franchisees and international partnerships.
• The Group is comfortable with the consensus, which stands at €2.19bn
| Fourth quarter 2013 sales inc. VAT2 | ||||
|---|---|---|---|---|
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
| France International |
39,726 44,598 |
+0.2% -2.5% |
+1.0% +3.4% |
+1.3% +3.5% |
| Total Group | 84,324 | -1.2% | +2.3% | +2.5% |
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
|---|---|---|---|---|
| France International |
10,604 11,593 |
+0.3% -3.1% |
+2.0% +4.3% |
+1.7% +4.2% |
| Total Group | 22,197 | -1.5% | +3.4% | +3.2% |
In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.
Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.
1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
2 Figures are proforma, excluding discontinued activities.
| Change inc. petrol | Change ex-petrol | Change ex.petrol ex. calendar |
||||||
|---|---|---|---|---|---|---|---|---|
| €m | LFL | Organic growth |
Total | LFL | Organic growth |
Total | Organic growth | |
| Hypermarkets | 6,097 | 0.0% | +0.3% | +0.3% | +1.4% | +1.7% | +1.7% | +1.3% |
| Supermarkets | 3,376 | +0.4% | -0.5% | -0.5% | +2.9% | +1.8% | +1.8% | +2.1% |
| Convenience and other formats | 1,131 | +2.2% | +2.7% | +2.7% | +4.4% | +4.6% | +4.6% | +4.3% |
| France | 10,604 | +0.4% | +0.3% | +0.3% | +2.2% | +2.0% | +2.0% | +1.7% |
Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.
Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.
Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.
Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).
3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Other European countries |
5,991 | -1.6% | -1.0% | -0.7% | -1.4% | -0.7% | -0.4% | -0.8% | -0.7% |
| Latin America | 3,973 | +11.3% | +12.7% | +11.9% | +11.1% | +12.6% | +11.8% | -6.9% | +12.6% |
| Asia | 1,629 | -2.9% | +1.3% | +1.3% | -2.9% | +1.3% | +1.3% | -1.9% | +0.7% |
| International | 11,593 | +2.7% | +4.2% | +4.1% | +2.8% | +4.3% | +4.2% | -3.1% | +4.2% |
The Group's international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.
Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.
Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.
Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.
In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.
Organic sales in Asia were up 1.3%.
In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.
4 Figures are proforma, excluding discontinued activities.
5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Hypermarkets | 21,918 | -0,3% | +0.1% | +0.1% | +0.2% | +0.7% | +0.7% | +0.1% | +1.0% |
| Supermarkets | 13,253 | +0,2% | -0.7% | -0.7% | +0.9% | +0.6% | +0.6% | -0.7% | +1.0% |
| Convenience and others |
4,556 | +3,8% | +3.7% | +3.7% | +3.7% | +4.0% | +4.0% | +3.7% | +4.2% |
| France | 39,726 | +0,3% | +0.2% | +0.2% | +0.8% | +1.0% | +1.0% | +0.2% | +1.3% |
| Other European countries |
21,790 | -2.9% | -2.8% | -2.6% | -2.8% | -2.8% | -2.5% | -2.6% | -2.6% |
| Latin America | 15,536 | +11.2% | +12.4% | +12.2% | +10.9% | +12.3% | +12.1% | -3.7% | +12.6% |
| Asia | 7,272 | -1.9% | +2.2% | +2.2% | -1.9% | +2.2% | +2.2% | +0.8% | +1.9% |
| International | 44,598 | +2.2% | +3.4% | +3.4% | +2.1% | +3.4% | +3.4% | -2.5% | +3.5% |
| Group | 84,324 | +1.3% | +1.9% | +1.9% | +1.6% | +2.3% | +2.4% | -1.2% | +2.5% |
6 Figures are proforma, excluding discontinued activities.
In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.
| Thousands of sq. m | 31 Dec. 20127 |
30 Sep. 2013 |
Opening/Store enlargements |
Acquisitions | Closures/ Store reductions |
Transfers | Disposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| France | 5,075 | 5,061 | 18 | -8 | 10 | 5,071 | |||
| Europe (ex. Fr) | 5,630 | 5,499 | 67 | -28 | 40 | 5,539 | |||
| Latin America | 2,045 | 2,065 | 30 | -7 | 23 | 2,088 | |||
| Asia | 2,592 | 2,644 | 126 | -5 | 121 | 2,765 | |||
| Others8 | 608 | 689 | 23 | -1 | 22 | 712 | |||
| Group | 15,949 | 15,958 | 264 | -49 | 215 | 16,176 |
In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).
| No. of stores | 31 Dec. 20127 |
30 Sep. 2013 | Openings | Acquisitions | Closures | Transfers | Diposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| Hypermarkets | 1,366 | 1,386 | 24 | -2 | 13 | 35 | 1,421 | ||
| France | 232 | 234 | 234 | ||||||
| Europe (ex Fr) | 457 | 460 | 2 | 13 | 15 | 475 | |||
| Latin America | 272 | 273 | 5 | -1 | 4 | 277 | |||
| Asia | 350 | 357 | 15 | -1 | 14 | 371 | |||
| Others8 | 55 | 62 | 2 | 2 | 64 | ||||
| Supermarkets | 2,986 | 2,878 | 73 | -21 | -13 | 38 | 2,917 | ||
| France | 964 | 949 | 949 | ||||||
| Europe (ex Fr) | 1,728 | 1,624 | 66 | -20 | -13 | 32 | 1,656 | ||
| Latin America | 168 | 168 | 1 | 1 | 169 | ||||
| Asia | 16 | 17 | 17 | ||||||
| Others8 | 110 | 120 | 6 | -1 | 5 | 126 | |||
| Convenience | 5,479 | 5,456 | 214 | -78 | 137 | 5,593 | |||
| France | 3,405 | 3,425 | 85 | -52 | 33 | 3,458 | |||
| Europe (ex Fr) | 1,819 | 1,717 | 102 | -25 | 78 | 1,795 | |||
| Latin America | 235 | 292 | 25 | -1 | 24 | 316 | |||
| Asia | 0 | 0 | 0 | ||||||
| Others8 | 20 | 22 | 2 | 2 | 24 | ||||
| Cash & carry | 164 | 173 | 2 | -1 | 1 | 174 | |||
| France | 140 | 139 | -1 | -1 | 138 | ||||
| Europe (ex Fr) | 14 | 19 | 19 | ||||||
| Asia | 4 | 4 | 1 | 1 | 5 | ||||
| Others8 | 6 | 11 | 1 | 1 | 12 | ||||
| Group | 9,995 | 9,893 | 313 | -102 | 212 | 10,105 | |||
| France | 4,741 | 4,747 | 85 | -53 | 32 | 4,779 | |||
| Europe (ex Fr) | 4,018 | 3,820 | 170 | -45 | 125 | 3,945 | |||
| Latin America | 675 | 733 | 31 | -2 | 29 | 762 | |||
| Asia | 370 | 378 | 16 | -1 | 15 | 393 | |||
| Others8 | 191 | 215 | 11 | -1 | 10 | 226 |
7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.
8 Maghreb, Middle East and Dominican Republic.
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.
Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.
Sales under banners: Total sales under banners including sales by franchisees and international partnerships.
• The Group is comfortable with the consensus, which stands at €2.19bn
| Fourth quarter 2013 sales inc. VAT2 | ||||
|---|---|---|---|---|
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
| France International |
39,726 44,598 |
+0.2% -2.5% |
+1.0% +3.4% |
+1.3% +3.5% |
| Total Group | 84,324 | -1.2% | +2.3% | +2.5% |
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
|---|---|---|---|---|
| France International |
10,604 11,593 |
+0.3% -3.1% |
+2.0% +4.3% |
+1.7% +4.2% |
| Total Group | 22,197 | -1.5% | +3.4% | +3.2% |
In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.
Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.
1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
2 Figures are proforma, excluding discontinued activities.
| Change inc. petrol | Change ex-petrol | Change ex.petrol ex. calendar |
||||||
|---|---|---|---|---|---|---|---|---|
| €m | LFL | Organic growth |
Total | LFL | Organic growth |
Total | Organic growth | |
| Hypermarkets | 6,097 | 0.0% | +0.3% | +0.3% | +1.4% | +1.7% | +1.7% | +1.3% |
| Supermarkets | 3,376 | +0.4% | -0.5% | -0.5% | +2.9% | +1.8% | +1.8% | +2.1% |
| Convenience and other formats | 1,131 | +2.2% | +2.7% | +2.7% | +4.4% | +4.6% | +4.6% | +4.3% |
| France | 10,604 | +0.4% | +0.3% | +0.3% | +2.2% | +2.0% | +2.0% | +1.7% |
Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.
Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.
Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.
Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).
3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Other European countries |
5,991 | -1.6% | -1.0% | -0.7% | -1.4% | -0.7% | -0.4% | -0.8% | -0.7% |
| Latin America | 3,973 | +11.3% | +12.7% | +11.9% | +11.1% | +12.6% | +11.8% | -6.9% | +12.6% |
| Asia | 1,629 | -2.9% | +1.3% | +1.3% | -2.9% | +1.3% | +1.3% | -1.9% | +0.7% |
| International | 11,593 | +2.7% | +4.2% | +4.1% | +2.8% | +4.3% | +4.2% | -3.1% | +4.2% |
The Group's international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.
Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.
Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.
Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.
In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.
Organic sales in Asia were up 1.3%.
In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.
4 Figures are proforma, excluding discontinued activities.
5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Hypermarkets | 21,918 | -0,3% | +0.1% | +0.1% | +0.2% | +0.7% | +0.7% | +0.1% | +1.0% |
| Supermarkets | 13,253 | +0,2% | -0.7% | -0.7% | +0.9% | +0.6% | +0.6% | -0.7% | +1.0% |
| Convenience and others |
4,556 | +3,8% | +3.7% | +3.7% | +3.7% | +4.0% | +4.0% | +3.7% | +4.2% |
| France | 39,726 | +0,3% | +0.2% | +0.2% | +0.8% | +1.0% | +1.0% | +0.2% | +1.3% |
| Other European countries |
21,790 | -2.9% | -2.8% | -2.6% | -2.8% | -2.8% | -2.5% | -2.6% | -2.6% |
| Latin America | 15,536 | +11.2% | +12.4% | +12.2% | +10.9% | +12.3% | +12.1% | -3.7% | +12.6% |
| Asia | 7,272 | -1.9% | +2.2% | +2.2% | -1.9% | +2.2% | +2.2% | +0.8% | +1.9% |
| International | 44,598 | +2.2% | +3.4% | +3.4% | +2.1% | +3.4% | +3.4% | -2.5% | +3.5% |
| Group | 84,324 | +1.3% | +1.9% | +1.9% | +1.6% | +2.3% | +2.4% | -1.2% | +2.5% |
6 Figures are proforma, excluding discontinued activities.
In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.
| Thousands of sq. m | 31 Dec. 20127 |
30 Sep. 2013 |
Opening/Store enlargements |
Acquisitions | Closures/ Store reductions |
Transfers | Disposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| France | 5,075 | 5,061 | 18 | -8 | 10 | 5,071 | |||
| Europe (ex. Fr) | 5,630 | 5,499 | 67 | -28 | 40 | 5,539 | |||
| Latin America | 2,045 | 2,065 | 30 | -7 | 23 | 2,088 | |||
| Asia | 2,592 | 2,644 | 126 | -5 | 121 | 2,765 | |||
| Others8 | 608 | 689 | 23 | -1 | 22 | 712 | |||
| Group | 15,949 | 15,958 | 264 | -49 | 215 | 16,176 |
In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).
| No. of stores | 31 Dec. 20127 |
30 Sep. 2013 | Openings | Acquisitions | Closures | Transfers | Diposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| Hypermarkets | 1,366 | 1,386 | 24 | -2 | 13 | 35 | 1,421 | ||
| France | 232 | 234 | 234 | ||||||
| Europe (ex Fr) | 457 | 460 | 2 | 13 | 15 | 475 | |||
| Latin America | 272 | 273 | 5 | -1 | 4 | 277 | |||
| Asia | 350 | 357 | 15 | -1 | 14 | 371 | |||
| Others8 | 55 | 62 | 2 | 2 | 64 | ||||
| Supermarkets | 2,986 | 2,878 | 73 | -21 | -13 | 38 | 2,917 | ||
| France | 964 | 949 | 949 | ||||||
| Europe (ex Fr) | 1,728 | 1,624 | 66 | -20 | -13 | 32 | 1,656 | ||
| Latin America | 168 | 168 | 1 | 1 | 169 | ||||
| Asia | 16 | 17 | 17 | ||||||
| Others8 | 110 | 120 | 6 | -1 | 5 | 126 | |||
| Convenience | 5,479 | 5,456 | 214 | -78 | 137 | 5,593 | |||
| France | 3,405 | 3,425 | 85 | -52 | 33 | 3,458 | |||
| Europe (ex Fr) | 1,819 | 1,717 | 102 | -25 | 78 | 1,795 | |||
| Latin America | 235 | 292 | 25 | -1 | 24 | 316 | |||
| Asia | 0 | 0 | 0 | ||||||
| Others8 | 20 | 22 | 2 | 2 | 24 | ||||
| Cash & carry | 164 | 173 | 2 | -1 | 1 | 174 | |||
| France | 140 | 139 | -1 | -1 | 138 | ||||
| Europe (ex Fr) | 14 | 19 | 19 | ||||||
| Asia | 4 | 4 | 1 | 1 | 5 | ||||
| Others8 | 6 | 11 | 1 | 1 | 12 | ||||
| Group | 9,995 | 9,893 | 313 | -102 | 212 | 10,105 | |||
| France | 4,741 | 4,747 | 85 | -53 | 32 | 4,779 | |||
| Europe (ex Fr) | 4,018 | 3,820 | 170 | -45 | 125 | 3,945 | |||
| Latin America | 675 | 733 | 31 | -2 | 29 | 762 | |||
| Asia | 370 | 378 | 16 | -1 | 15 | 393 | |||
| Others8 | 191 | 215 | 11 | -1 | 10 | 226 |
7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.
8 Maghreb, Middle East and Dominican Republic.
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.
Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.
Sales under banners: Total sales under banners including sales by franchisees and international partnerships.
• The Group is comfortable with the consensus, which stands at €2.19bn
| Fourth quarter 2013 sales inc. VAT2 | ||||
|---|---|---|---|---|
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
| France International |
39,726 44,598 |
+0.2% -2.5% |
+1.0% +3.4% |
+1.3% +3.5% |
| Total Group | 84,324 | -1.2% | +2.3% | +2.5% |
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
|---|---|---|---|---|
| France International |
10,604 11,593 |
+0.3% -3.1% |
+2.0% +4.3% |
+1.7% +4.2% |
| Total Group | 22,197 | -1.5% | +3.4% | +3.2% |
In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.
Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.
1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
2 Figures are proforma, excluding discontinued activities.
| Change inc. petrol | Change ex-petrol | Change ex.petrol ex. calendar |
||||||
|---|---|---|---|---|---|---|---|---|
| €m | LFL | Organic growth |
Total | LFL | Organic growth |
Total | Organic growth | |
| Hypermarkets | 6,097 | 0.0% | +0.3% | +0.3% | +1.4% | +1.7% | +1.7% | +1.3% |
| Supermarkets | 3,376 | +0.4% | -0.5% | -0.5% | +2.9% | +1.8% | +1.8% | +2.1% |
| Convenience and other formats | 1,131 | +2.2% | +2.7% | +2.7% | +4.4% | +4.6% | +4.6% | +4.3% |
| France | 10,604 | +0.4% | +0.3% | +0.3% | +2.2% | +2.0% | +2.0% | +1.7% |
Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.
Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.
Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.
Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).
3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Other European countries |
5,991 | -1.6% | -1.0% | -0.7% | -1.4% | -0.7% | -0.4% | -0.8% | -0.7% |
| Latin America | 3,973 | +11.3% | +12.7% | +11.9% | +11.1% | +12.6% | +11.8% | -6.9% | +12.6% |
| Asia | 1,629 | -2.9% | +1.3% | +1.3% | -2.9% | +1.3% | +1.3% | -1.9% | +0.7% |
| International | 11,593 | +2.7% | +4.2% | +4.1% | +2.8% | +4.3% | +4.2% | -3.1% | +4.2% |
The Group's international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.
Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.
Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.
Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.
In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.
Organic sales in Asia were up 1.3%.
In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.
4 Figures are proforma, excluding discontinued activities.
5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Hypermarkets | 21,918 | -0,3% | +0.1% | +0.1% | +0.2% | +0.7% | +0.7% | +0.1% | +1.0% |
| Supermarkets | 13,253 | +0,2% | -0.7% | -0.7% | +0.9% | +0.6% | +0.6% | -0.7% | +1.0% |
| Convenience and others |
4,556 | +3,8% | +3.7% | +3.7% | +3.7% | +4.0% | +4.0% | +3.7% | +4.2% |
| France | 39,726 | +0,3% | +0.2% | +0.2% | +0.8% | +1.0% | +1.0% | +0.2% | +1.3% |
| Other European countries |
21,790 | -2.9% | -2.8% | -2.6% | -2.8% | -2.8% | -2.5% | -2.6% | -2.6% |
| Latin America | 15,536 | +11.2% | +12.4% | +12.2% | +10.9% | +12.3% | +12.1% | -3.7% | +12.6% |
| Asia | 7,272 | -1.9% | +2.2% | +2.2% | -1.9% | +2.2% | +2.2% | +0.8% | +1.9% |
| International | 44,598 | +2.2% | +3.4% | +3.4% | +2.1% | +3.4% | +3.4% | -2.5% | +3.5% |
| Group | 84,324 | +1.3% | +1.9% | +1.9% | +1.6% | +2.3% | +2.4% | -1.2% | +2.5% |
6 Figures are proforma, excluding discontinued activities.
In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.
| Thousands of sq. m | 31 Dec. 20127 |
30 Sep. 2013 |
Opening/Store enlargements |
Acquisitions | Closures/ Store reductions |
Transfers | Disposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| France | 5,075 | 5,061 | 18 | -8 | 10 | 5,071 | |||
| Europe (ex. Fr) | 5,630 | 5,499 | 67 | -28 | 40 | 5,539 | |||
| Latin America | 2,045 | 2,065 | 30 | -7 | 23 | 2,088 | |||
| Asia | 2,592 | 2,644 | 126 | -5 | 121 | 2,765 | |||
| Others8 | 608 | 689 | 23 | -1 | 22 | 712 | |||
| Group | 15,949 | 15,958 | 264 | -49 | 215 | 16,176 |
In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).
| No. of stores | 31 Dec. 20127 |
30 Sep. 2013 | Openings | Acquisitions | Closures | Transfers | Diposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| Hypermarkets | 1,366 | 1,386 | 24 | -2 | 13 | 35 | 1,421 | ||
| France | 232 | 234 | 234 | ||||||
| Europe (ex Fr) | 457 | 460 | 2 | 13 | 15 | 475 | |||
| Latin America | 272 | 273 | 5 | -1 | 4 | 277 | |||
| Asia | 350 | 357 | 15 | -1 | 14 | 371 | |||
| Others8 | 55 | 62 | 2 | 2 | 64 | ||||
| Supermarkets | 2,986 | 2,878 | 73 | -21 | -13 | 38 | 2,917 | ||
| France | 964 | 949 | 949 | ||||||
| Europe (ex Fr) | 1,728 | 1,624 | 66 | -20 | -13 | 32 | 1,656 | ||
| Latin America | 168 | 168 | 1 | 1 | 169 | ||||
| Asia | 16 | 17 | 17 | ||||||
| Others8 | 110 | 120 | 6 | -1 | 5 | 126 | |||
| Convenience | 5,479 | 5,456 | 214 | -78 | 137 | 5,593 | |||
| France | 3,405 | 3,425 | 85 | -52 | 33 | 3,458 | |||
| Europe (ex Fr) | 1,819 | 1,717 | 102 | -25 | 78 | 1,795 | |||
| Latin America | 235 | 292 | 25 | -1 | 24 | 316 | |||
| Asia | 0 | 0 | 0 | ||||||
| Others8 | 20 | 22 | 2 | 2 | 24 | ||||
| Cash & carry | 164 | 173 | 2 | -1 | 1 | 174 | |||
| France | 140 | 139 | -1 | -1 | 138 | ||||
| Europe (ex Fr) | 14 | 19 | 19 | ||||||
| Asia | 4 | 4 | 1 | 1 | 5 | ||||
| Others8 | 6 | 11 | 1 | 1 | 12 | ||||
| Group | 9,995 | 9,893 | 313 | -102 | 212 | 10,105 | |||
| France | 4,741 | 4,747 | 85 | -53 | 32 | 4,779 | |||
| Europe (ex Fr) | 4,018 | 3,820 | 170 | -45 | 125 | 3,945 | |||
| Latin America | 675 | 733 | 31 | -2 | 29 | 762 | |||
| Asia | 370 | 378 | 16 | -1 | 15 | 393 | |||
| Others8 | 191 | 215 | 11 | -1 | 10 | 226 |
7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.
8 Maghreb, Middle East and Dominican Republic.
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.
Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.
Sales under banners: Total sales under banners including sales by franchisees and international partnerships.
• The Group is comfortable with the consensus, which stands at €2.19bn
| Fourth quarter 2013 sales inc. VAT2 | ||||
|---|---|---|---|---|
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
| France International |
39,726 44,598 |
+0.2% -2.5% |
+1.0% +3.4% |
+1.3% +3.5% |
| Total Group | 84,324 | -1.2% | +2.3% | +2.5% |
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
|---|---|---|---|---|
| France International |
10,604 11,593 |
+0.3% -3.1% |
+2.0% +4.3% |
+1.7% +4.2% |
| Total Group | 22,197 | -1.5% | +3.4% | +3.2% |
In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.
Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.
1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
2 Figures are proforma, excluding discontinued activities.
| Change inc. petrol | Change ex-petrol | Change ex.petrol ex. calendar |
||||||
|---|---|---|---|---|---|---|---|---|
| €m | LFL | Organic growth |
Total | LFL | Organic growth |
Total | Organic growth | |
| Hypermarkets | 6,097 | 0.0% | +0.3% | +0.3% | +1.4% | +1.7% | +1.7% | +1.3% |
| Supermarkets | 3,376 | +0.4% | -0.5% | -0.5% | +2.9% | +1.8% | +1.8% | +2.1% |
| Convenience and other formats | 1,131 | +2.2% | +2.7% | +2.7% | +4.4% | +4.6% | +4.6% | +4.3% |
| France | 10,604 | +0.4% | +0.3% | +0.3% | +2.2% | +2.0% | +2.0% | +1.7% |
Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.
Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.
Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.
Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).
3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Other European countries |
5,991 | -1.6% | -1.0% | -0.7% | -1.4% | -0.7% | -0.4% | -0.8% | -0.7% |
| Latin America | 3,973 | +11.3% | +12.7% | +11.9% | +11.1% | +12.6% | +11.8% | -6.9% | +12.6% |
| Asia | 1,629 | -2.9% | +1.3% | +1.3% | -2.9% | +1.3% | +1.3% | -1.9% | +0.7% |
| International | 11,593 | +2.7% | +4.2% | +4.1% | +2.8% | +4.3% | +4.2% | -3.1% | +4.2% |
The Group's international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.
Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.
Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.
Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.
In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.
Organic sales in Asia were up 1.3%.
In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.
4 Figures are proforma, excluding discontinued activities.
5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Hypermarkets | 21,918 | -0,3% | +0.1% | +0.1% | +0.2% | +0.7% | +0.7% | +0.1% | +1.0% |
| Supermarkets | 13,253 | +0,2% | -0.7% | -0.7% | +0.9% | +0.6% | +0.6% | -0.7% | +1.0% |
| Convenience and others |
4,556 | +3,8% | +3.7% | +3.7% | +3.7% | +4.0% | +4.0% | +3.7% | +4.2% |
| France | 39,726 | +0,3% | +0.2% | +0.2% | +0.8% | +1.0% | +1.0% | +0.2% | +1.3% |
| Other European countries |
21,790 | -2.9% | -2.8% | -2.6% | -2.8% | -2.8% | -2.5% | -2.6% | -2.6% |
| Latin America | 15,536 | +11.2% | +12.4% | +12.2% | +10.9% | +12.3% | +12.1% | -3.7% | +12.6% |
| Asia | 7,272 | -1.9% | +2.2% | +2.2% | -1.9% | +2.2% | +2.2% | +0.8% | +1.9% |
| International | 44,598 | +2.2% | +3.4% | +3.4% | +2.1% | +3.4% | +3.4% | -2.5% | +3.5% |
| Group | 84,324 | +1.3% | +1.9% | +1.9% | +1.6% | +2.3% | +2.4% | -1.2% | +2.5% |
6 Figures are proforma, excluding discontinued activities.
In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.
| Thousands of sq. m | 31 Dec. 20127 |
30 Sep. 2013 |
Opening/Store enlargements |
Acquisitions | Closures/ Store reductions |
Transfers | Disposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| France | 5,075 | 5,061 | 18 | -8 | 10 | 5,071 | |||
| Europe (ex. Fr) | 5,630 | 5,499 | 67 | -28 | 40 | 5,539 | |||
| Latin America | 2,045 | 2,065 | 30 | -7 | 23 | 2,088 | |||
| Asia | 2,592 | 2,644 | 126 | -5 | 121 | 2,765 | |||
| Others8 | 608 | 689 | 23 | -1 | 22 | 712 | |||
| Group | 15,949 | 15,958 | 264 | -49 | 215 | 16,176 |
In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).
| No. of stores | 31 Dec. 20127 |
30 Sep. 2013 | Openings | Acquisitions | Closures | Transfers | Diposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| Hypermarkets | 1,366 | 1,386 | 24 | -2 | 13 | 35 | 1,421 | ||
| France | 232 | 234 | 234 | ||||||
| Europe (ex Fr) | 457 | 460 | 2 | 13 | 15 | 475 | |||
| Latin America | 272 | 273 | 5 | -1 | 4 | 277 | |||
| Asia | 350 | 357 | 15 | -1 | 14 | 371 | |||
| Others8 | 55 | 62 | 2 | 2 | 64 | ||||
| Supermarkets | 2,986 | 2,878 | 73 | -21 | -13 | 38 | 2,917 | ||
| France | 964 | 949 | 949 | ||||||
| Europe (ex Fr) | 1,728 | 1,624 | 66 | -20 | -13 | 32 | 1,656 | ||
| Latin America | 168 | 168 | 1 | 1 | 169 | ||||
| Asia | 16 | 17 | 17 | ||||||
| Others8 | 110 | 120 | 6 | -1 | 5 | 126 | |||
| Convenience | 5,479 | 5,456 | 214 | -78 | 137 | 5,593 | |||
| France | 3,405 | 3,425 | 85 | -52 | 33 | 3,458 | |||
| Europe (ex Fr) | 1,819 | 1,717 | 102 | -25 | 78 | 1,795 | |||
| Latin America | 235 | 292 | 25 | -1 | 24 | 316 | |||
| Asia | 0 | 0 | 0 | ||||||
| Others8 | 20 | 22 | 2 | 2 | 24 | ||||
| Cash & carry | 164 | 173 | 2 | -1 | 1 | 174 | |||
| France | 140 | 139 | -1 | -1 | 138 | ||||
| Europe (ex Fr) | 14 | 19 | 19 | ||||||
| Asia | 4 | 4 | 1 | 1 | 5 | ||||
| Others8 | 6 | 11 | 1 | 1 | 12 | ||||
| Group | 9,995 | 9,893 | 313 | -102 | 212 | 10,105 | |||
| France | 4,741 | 4,747 | 85 | -53 | 32 | 4,779 | |||
| Europe (ex Fr) | 4,018 | 3,820 | 170 | -45 | 125 | 3,945 | |||
| Latin America | 675 | 733 | 31 | -2 | 29 | 762 | |||
| Asia | 370 | 378 | 16 | -1 | 15 | 393 | |||
| Others8 | 191 | 215 | 11 | -1 | 10 | 226 |
7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.
8 Maghreb, Middle East and Dominican Republic.
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.
Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.
Sales under banners: Total sales under banners including sales by franchisees and international partnerships.
• The Group is comfortable with the consensus, which stands at €2.19bn
| Fourth quarter 2013 sales inc. VAT2 | ||||
|---|---|---|---|---|
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
| France International |
39,726 44,598 |
+0.2% -2.5% |
+1.0% +3.4% |
+1.3% +3.5% |
| Total Group | 84,324 | -1.2% | +2.3% | +2.5% |
| €m | Total growth |
Organic growth ex. petrol |
Organic growth ex. petrol ex. calendar |
|
|---|---|---|---|---|
| France International |
10,604 11,593 |
+0.3% -3.1% |
+2.0% +4.3% |
+1.7% +4.2% |
| Total Group | 22,197 | -1.5% | +3.4% | +3.2% |
In Q4, the currency effect for the group was -3.8%. The calendar effect is estimated at +0.3% for France and +0.1% for international activities.
Total sales under banners including petrol in Q4 2013 stood at €26.2bn, up 2.2% at constant exchange rates.
1 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
2 Figures are proforma, excluding discontinued activities.
| Change inc. petrol | Change ex-petrol | Change ex.petrol ex. calendar |
||||||
|---|---|---|---|---|---|---|---|---|
| €m | LFL | Organic growth |
Total | LFL | Organic growth |
Total | Organic growth | |
| Hypermarkets | 6,097 | 0.0% | +0.3% | +0.3% | +1.4% | +1.7% | +1.7% | +1.3% |
| Supermarkets | 3,376 | +0.4% | -0.5% | -0.5% | +2.9% | +1.8% | +1.8% | +2.1% |
| Convenience and other formats | 1,131 | +2.2% | +2.7% | +2.7% | +4.4% | +4.6% | +4.6% | +4.3% |
| France | 10,604 | +0.4% | +0.3% | +0.3% | +2.2% | +2.0% | +2.0% | +1.7% |
Organic3 sales in France were up 1.7%. Sales grew for the second consecutive quarter in all formats. The variation in petrol sales impacted sales in France by -1.7%.
Sales excluding petrol at Hypermarkets were up 1.7% (+1.4% LFL). Organic3 sales were up 1.3%. Food sales grew, confirming their improvement.
Sales excluding petrol at Supermarkets were up 1.8% (+2.9% LFL). Organic3 sales were up 2.1%.
Convenience and other formats posted a 4.6% rise in sales excluding petrol (+4.4% LFL).
3 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Other European countries |
5,991 | -1.6% | -1.0% | -0.7% | -1.4% | -0.7% | -0.4% | -0.8% | -0.7% |
| Latin America | 3,973 | +11.3% | +12.7% | +11.9% | +11.1% | +12.6% | +11.8% | -6.9% | +12.6% |
| Asia | 1,629 | -2.9% | +1.3% | +1.3% | -2.9% | +1.3% | +1.3% | -1.9% | +0.7% |
| International | 11,593 | +2.7% | +4.2% | +4.1% | +2.8% | +4.3% | +4.2% | -3.1% | +4.2% |
The Group's international sales were up 4.1% at constant exchange rates (+2.7% LFL). Organic5 sales were up 4.2%.
Sales in Europe were resilient, dropping 0.4% excluding petrol. There was no currency effect in the quarter.
Sales in Spain were up 1.2% this quarter (+0.2% LFL), confirming the improved momentum recorded throughout 2013. Organic5 sales were up 1.7%. The economic environment remained challenging in Italy where sales dropped 4.6% (-5.8% LFL). In Belgium, sales rose 1.1% this quarter, with stable LFL sales.
Sales were up 11.9% at constant exchange rates and organic sales were up 12.7% in Latin America. The calendar effect was neutral. Currencies had a negative impact of 18.8% in the quarter due to the depreciation of the Brazilian real and the Argentine peso against the euro.
In Brazil, growth continued in all formats. Organic sales were up 6.8% (+5.6% LFL) in a context of slowing inflation for commodities. Argentina posted organic sales growth of 32.3%, of which 29.7% LFL.
Organic sales in Asia were up 1.3%.
In China, organic sales were up 1.4% (-3.1% LFL) in a slowing consumption environment. In Taiwan, organic sales were stable.
4 Figures are proforma, excluding discontinued activities.
5 Ex. petrol and ex. calendar. Organic growth is at constant exchange rates.
| €m | Change at constant exch. rates inc. petrol |
Change at constant exch. rates ex. petrol |
Change at current exch. rates inc. petrol |
Change ex. petrol ex. calendar |
|||||
|---|---|---|---|---|---|---|---|---|---|
| LFL | Organic growth |
Total | LFL | Organic growth |
Total | Total | Organic growth |
||
| Hypermarkets | 21,918 | -0,3% | +0.1% | +0.1% | +0.2% | +0.7% | +0.7% | +0.1% | +1.0% |
| Supermarkets | 13,253 | +0,2% | -0.7% | -0.7% | +0.9% | +0.6% | +0.6% | -0.7% | +1.0% |
| Convenience and others |
4,556 | +3,8% | +3.7% | +3.7% | +3.7% | +4.0% | +4.0% | +3.7% | +4.2% |
| France | 39,726 | +0,3% | +0.2% | +0.2% | +0.8% | +1.0% | +1.0% | +0.2% | +1.3% |
| Other European countries |
21,790 | -2.9% | -2.8% | -2.6% | -2.8% | -2.8% | -2.5% | -2.6% | -2.6% |
| Latin America | 15,536 | +11.2% | +12.4% | +12.2% | +10.9% | +12.3% | +12.1% | -3.7% | +12.6% |
| Asia | 7,272 | -1.9% | +2.2% | +2.2% | -1.9% | +2.2% | +2.2% | +0.8% | +1.9% |
| International | 44,598 | +2.2% | +3.4% | +3.4% | +2.1% | +3.4% | +3.4% | -2.5% | +3.5% |
| Group | 84,324 | +1.3% | +1.9% | +1.9% | +1.6% | +2.3% | +2.4% | -1.2% | +2.5% |
6 Figures are proforma, excluding discontinued activities.
In Q4 2013, Carrefour opened or acquired 264,000 gross sq.m and 579,000 gross sq. m in the full year. Net of disposals and closures, the network added 213,000 sq. m in Q4 2013 and added 227,000 sq. m in the full year.
| Thousands of sq. m | 31 Dec. 20127 |
30 Sep. 2013 |
Opening/Store enlargements |
Acquisitions | Closures/ Store reductions |
Transfers | Disposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| France | 5,075 | 5,061 | 18 | -8 | 10 | 5,071 | |||
| Europe (ex. Fr) | 5,630 | 5,499 | 67 | -28 | 40 | 5,539 | |||
| Latin America | 2,045 | 2,065 | 30 | -7 | 23 | 2,088 | |||
| Asia | 2,592 | 2,644 | 126 | -5 | 121 | 2,765 | |||
| Others8 | 608 | 689 | 23 | -1 | 22 | 712 | |||
| Group | 15,949 | 15,958 | 264 | -49 | 215 | 16,176 |
In Q4 2013, Carrefour opened or acquired 313 stores (+810 over the full year). Net of disposals and closures, the network added 212 stores in Q4 2013 (+110 stores in the full year).
| No. of stores | 31 Dec. 20127 |
30 Sep. 2013 | Openings | Acquisitions | Closures | Transfers | Diposals | Total Q4 2013 change |
31 Dec. 2013 |
|---|---|---|---|---|---|---|---|---|---|
| Hypermarkets | 1,366 | 1,386 | 24 | -2 | 13 | 35 | 1,421 | ||
| France | 232 | 234 | 234 | ||||||
| Europe (ex Fr) | 457 | 460 | 2 | 13 | 15 | 475 | |||
| Latin America | 272 | 273 | 5 | -1 | 4 | 277 | |||
| Asia | 350 | 357 | 15 | -1 | 14 | 371 | |||
| Others8 | 55 | 62 | 2 | 2 | 64 | ||||
| Supermarkets | 2,986 | 2,878 | 73 | -21 | -13 | 38 | 2,917 | ||
| France | 964 | 949 | 949 | ||||||
| Europe (ex Fr) | 1,728 | 1,624 | 66 | -20 | -13 | 32 | 1,656 | ||
| Latin America | 168 | 168 | 1 | 1 | 169 | ||||
| Asia | 16 | 17 | 17 | ||||||
| Others8 | 110 | 120 | 6 | -1 | 5 | 126 | |||
| Convenience | 5,479 | 5,456 | 214 | -78 | 137 | 5,593 | |||
| France | 3,405 | 3,425 | 85 | -52 | 33 | 3,458 | |||
| Europe (ex Fr) | 1,819 | 1,717 | 102 | -25 | 78 | 1,795 | |||
| Latin America | 235 | 292 | 25 | -1 | 24 | 316 | |||
| Asia | 0 | 0 | 0 | ||||||
| Others8 | 20 | 22 | 2 | 2 | 24 | ||||
| Cash & carry | 164 | 173 | 2 | -1 | 1 | 174 | |||
| France | 140 | 139 | -1 | -1 | 138 | ||||
| Europe (ex Fr) | 14 | 19 | 19 | ||||||
| Asia | 4 | 4 | 1 | 1 | 5 | ||||
| Others8 | 6 | 11 | 1 | 1 | 12 | ||||
| Group | 9,995 | 9,893 | 313 | -102 | 212 | 10,105 | |||
| France | 4,741 | 4,747 | 85 | -53 | 32 | 4,779 | |||
| Europe (ex Fr) | 4,018 | 3,820 | 170 | -45 | 125 | 3,945 | |||
| Latin America | 675 | 733 | 31 | -2 | 29 | 762 | |||
| Asia | 370 | 378 | 16 | -1 | 15 | 393 | |||
| Others8 | 191 | 215 | 11 | -1 | 10 | 226 |
7 The store network as of 31 December 2012 takes into account the reclassification of 469 franchised stores from the supermarket format to the convenience store format.
8 Maghreb, Middle East and Dominican Republic.
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures.
Organic sales growth: LFL sales plus net openings over the past twelve months, including temporary store closures.
Sales under banners: Total sales under banners including sales by franchisees and international partnerships.
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