Regulatory News:
Carrefour (Paris:CA):
Fifth consecutive year of like-for-like sales growth and the best yearly performance over the period, at +3.0%:
- Relevance of our multi-format model, increasing strength of our omni-channel approach
- Good performance in food in all countries
Solid performance in Q4 2016: €23.4bn, +2.9% like-for-like
- International: Strong sales growth, +4.5% like-for-like
- Excellent momentum in Europe with growth in all countries
- Continued strong growth in Latin America
- Further sequential improvement in Asia
- France: Good like-for-like growth, at +0.7%
- Solid performance demonstrating the relevance of our omnichannel strategy
- Very good momentum in food sales
- Completion of the conversion to Carrefour banners of Dia stores
Fourth quarter 2016 | Full-year 2016 | ||||||||||||||||||||||||||||||
Sales inc. VAT |
LFL ex petrol |
Total growth |
Sales inc. VAT |
LFL ex petrol |
Total growth ex | ||||||||||||||||||||||||||
International | 12,606 | +4.5% | +6.6% | 45,574 | +4.9% | +6.3% | |||||||||||||||||||||||||
France | 10,761 | +0.7% | -0.3% | 40,126 | +0.3% | -0.5% | |||||||||||||||||||||||||
Group | 23,366 | +2.9% | +3.5% | 85,700 | +3.0% | +3.3% | |||||||||||||||||||||||||
Total sales under banners including petrol stood at €27.9bn in Q4 2016 and at €103.7bn in the full year, up respectively by 3.7% and 2.1% at constant exchange rates.
In the fourth quarter, currencies and petrol both returned to positive territory and each had favorable impacts of 0.3%; the calendar effect had an unfavorable impact of 0.1%. In full-year 2016, currencies and petrol prices had adverse impacts of 3.4% and 0.6% respectively, and the calendar effect was +0.1%.
GOOD PERFORMANCE IN FULL-YEAR 2016
FIFTH CONSECUTIVE YEAR OF SALES GROWTH
Sales inc. VAT (€m) |
LFL ex petrol |
Total growth | |||||||
International | 45,574 | +4.9% | +6.3% | ||||||
Other European Countries | 22,439 | +2.0% | +2.3% | ||||||
Latin America | 16,254 | +13.5% | +16.8% | ||||||
Asia | 6,881 | -5.0% | -4.1% | ||||||
France | 40,126 | +0.3% | -0.5% | ||||||
Carrefour posted a strong performance in 2016, with total sales of €85.7bn, up 3.3% ex petrol at constant exchange rates. Sales were up both in Europe and in the rest of the world, attesting to the relevance of Carrefour’s predominantly food-based multi-format model. Full-year 2016 was marked by excellent performance in food and the Group’s omni-channel evolution.
Sales in our international activities were up +4.9% LFL in the full year. They were up +2.0% in Other European Countries. Each country contributed to this growth. Latin America continued its strong momentum and recorded strong growth of +13.5% LFL. Trends in Asia improved.
In 2016, Carrefour continued rolling out its multi-format model, accelerating openings of convenience stores, notably in Brazil, Spain, Poland and China. The group also continued its strategy of tactical acquisitions, in Romania with Billa and in Spain with selected Eroski stores.
In the full year, France posted LFL sales growth of +0.3% in a challenging environment. This increase illustrates the attractiveness of our stores and the strength of our multi-format model. Indeed, shoppers using several Carrefour formats already represented half of the total client base and two-thirds of our sales. In addition, the omni-channel approach gained momentum: Gross Merchandise Value of our food and non-food e-commerce activities stood at above €1 billion.
SOLID FOURTH QUARTER 2016 PERFORMANCE
Sales inc. VAT (€m) |
LFL ex petrol |
Total growth | |||||||
International | 12,606 | +4.5% | +6.6% | ||||||
Other European Countries | 6,296 | +2.5% | +3.9% | ||||||
Latin America | 4,788 | +10.8% | +14.3% | ||||||
Asia | 1,522 | -4.2% | -2.3% | ||||||
France | 10,761 | +0.7% | -0.3% | ||||||
Carrefour posted a very good performance in the fourth quarter of 2016, with sales of €23.4bn, up 3.5% ex petrol at constant exchange rates.
Sales of our international activities were up +4.5% on a like-for-like basis and up +6.6% ex petrol at constant exchange rates.
In Other European countries, LFL sales were up +2.5%. Every country posted growth:
- Spain, Carrefour’s third-biggest market, maintained its momentum with LFL sales up +4.1% in Q4.
- In Belgium and Italy, LFL sales rose slightly.
- LFL sales in Romania and in Poland posted solid growth.
In Latin America, LFL sales continued to grow by +10.8% on the back of already strong comparables. The currency effect was positive at +3.2%:
- In Brazil, LFL sales continued to grow strongly, increasing by +9.0%.
- LFL sales in Argentina rose by +15.1%.
In Asia, LFL sales were down 4.2%:
- China posted another sequential improvement in LFL sales, which were down 5.4%.
- In Taiwan, sales rose for the eighth consecutive quarter, increasing by +0.2% on a like-for-like basis.
France posted good LFL growth of +0.7% in a persistently difficult environment.
LFL sales in hypermarkets were down 1.2%, impacted by the anticipation to Q3 of the Carrefour Anniversary Month. Food sales continued to grow, demonstrating the quality of our offer.
Supermarkets posted a good performance, up +3.3% on a like-for-like basis, the ninth consecutive quarterly increase.
LFL sales in convenience and other formats were up +2.9%.
The conversion of stores acquired from Dia was nearly completed, with 622 stores in total under Carrefour banners to date.
Variation of fourth quarter 2016 sales inc. VAT
Total |
Change at |
Change at | LFL inc. petrol |
LFL ex petrol |
Organic | ||||||||||
International | 12,606 | +7.1% | +6.5% | +4.5% | +4.5% | +5.9% | |||||||||
| |||||||||||||||
Other European countries | 6,296 | +3.6% | +4.0% | +2.5% | +2.5% | +2.7% | |||||||||
Spain | 2,529 | +3.4% | +3.4% | +3.5% | +4.1% | +4.0% | |||||||||
Italy | 1,477 | -1.5% | -1.5% | +0.7% | +0.6% | -1.2% | |||||||||
Belgium | 1,185 | +1.0% | +1.0% | +0.7% | +0.5% | +0.8% | |||||||||
Latin America | 4,788 | +17.0% | +13.9% | +10.7% | +10.8% | +14.1% | |||||||||
Brazil | 3,851 | +33.1% | +12.4% | +8.6% | +9.0% | +13.0% | |||||||||
Asia | 1,522 | -4.9% | -2.3% | -3.7% | -4.2% | -2.7% | |||||||||
China | 1,122 | -9.0% | -4.2% | -5.4% | -5.4% | -4.3% | |||||||||
France | 10,761 | +0.9% | +0.9% | +1.8% | +0.7% | -0.5% | |||||||||
Hypermarkets | 5,758 | -1.3% | -1.3% | -0.9% | -1.2% | -1.6% | |||||||||
Supermarkets | 3,400 | +1.5% | +1.5% | +3.0% | +3.3% | +0.5% | |||||||||
Convenience /other formats | 1,602 | +8.4% | +8.4% | +10.8% | +2.9% | +1.6% | |||||||||
Group Total | 23,366 | +4.2% | +3.9% | +3.3% | +2.9% | +3.0% | |||||||||
Variation of full-year 2016 sales inc. VAT
|
Total |
Change at |
Change at | LFL inc. petrol |
LFL ex petrol |
Organic | |||||||||
International | 45,574 | -0.3% | +6.1% | +4.8% | +4.9% | +6.0% | |||||||||
Other European countries | 22,439 | +1.4% | +1.9% | +1.6% | +2.0% | +1.8% | |||||||||
Spain | 8,964 | +1.2% | +1.2% | +1.3% | +2.3% | +2.2% | |||||||||
Italy | 5,484 | -1.0% | -1.0% | +1.8% | +2.1% | +0.9% | |||||||||
Belgium | 4,382 | +0.6% | +0.6% | +0.5% | +0.3% | +0.3% | |||||||||
Latin America | 16,254 | +0.9% | +16.6% | +13.4% | +13.5% | +16.7% | |||||||||
Brazil | 12,858 | +10.6% | +15.0% | +10.9% | +11.0% | +15.1% | |||||||||
Asia | 6,881 | -7.8% | -4.1% | -4.8% | -5.0% | -4.3% | |||||||||
China | 5,075 | -11.6% | -7.2% | -7.6% | -7.8% | -7.4% | |||||||||
France | 40,126 | -1.2% | -1.2% | -0.1% | +0.3% | -0.9% | |||||||||
Hypermarkets | 20,815 | -2.6% | -2.6% | -2.3% | -1.5% | -1.8% | |||||||||
Supermarkets | 12,945 | -0.9% | -0.9% | +0.4% | +2.6% | -0.3% | |||||||||
Convenience/other formats | 6,367 | +3.2% | +3.2% | +7.9% | +1.8% | +0.8% | |||||||||
Group Total | 85,700 | -0.7% | +2.7% | +2.6% | +3.0% | +3.0% | |||||||||
EXPANSION UNDER BANNERS – Fourth quarter 2016
Thousands of sq. m. |
Dec 31, |
Sept. 30, |
Openings/ | Acquisitions |
Closures/ | Total Q4 |
Dec 31, | |||||||||||||||||||||||
France | 5,668 | 5,702 | 33 | - | -16 | 17 | 5,719 | |||||||||||||||||||||||
Europe (ex France) | 6,039 | 5,436 | 62 | 16 | -66 | 12 | 5,449 | |||||||||||||||||||||||
Latin America | 2,258 | 2,286 | 50 | - | - | 50 | 2,335 | |||||||||||||||||||||||
Asia | 2,734 | 2,764 | 5 | - | -10 | -5 | 2,758 | |||||||||||||||||||||||
Others1 | 828 | 897 | 24 | - | -1 | 23 | 920 | |||||||||||||||||||||||
Groupe | 17,526 | 17,085 | 174 | 16 | -94 | 96 | 17,181 | |||||||||||||||||||||||
STORE NETWORK UNDER BANNERS – Fourth quarter 2016
No. of stores |
Dec. 31, |
Sept. 30, | Openings | Acquisitions |
Closures/ | Transfers | Total Q4 |
Dec. 31. | ||||||||||||||||||||||||||
Hypermarkets | 1,481 | 1,447 | 16 | 2 | -3 | - | 15 | 1,462 | ||||||||||||||||||||||||||
France | 242 | 242 | 1 | - | - | - | 1 | 243 | ||||||||||||||||||||||||||
Europe (ex France) | 489 | 435 | 4 | 2 | -2 | - | 4 | 439 | ||||||||||||||||||||||||||
Latin America | 304 | 308 | 8 | - | - | - | 8 | 316 | ||||||||||||||||||||||||||
Asia | 369 | 375 | - | - | -1 | - | -1 | 374 | ||||||||||||||||||||||||||
Others1 | 77 | 87 | 3 | - | - | - | 3 | 90 | ||||||||||||||||||||||||||
Supermarkets | 3,462 | 3,243 | 36 | - | -67 | 15 | -16 | 3,227 | ||||||||||||||||||||||||||
France | 1,003 | 1,044 | 2 | - | - | 16 | 18 | 1,062 | ||||||||||||||||||||||||||
Europe (ex France) | 2,096 | 1,820 | 23 | - | -66 | - | -43 | 1,777 | ||||||||||||||||||||||||||
Latin America | 168 | 168 | - | - | - | - | - | 168 | ||||||||||||||||||||||||||
Asia | 29 | 33 | 5 | - | - | - | 5 | 38 | ||||||||||||||||||||||||||
Others1 | 166 | 178 | 6 | - | -1 | -1 | 4 | 182 | ||||||||||||||||||||||||||
Convenience | 7,181 | 6,951 | 232 | - | -93 | -15 | 124 | 7,075 | ||||||||||||||||||||||||||
France | 4,263 | 4,226 | 66 | - | -54 | -16 | -4 | 4,222 | ||||||||||||||||||||||||||
Europe (ex France) | 2,464 | 2,232 | 119 | - | -39 | 0 | 80 | 2,312 | ||||||||||||||||||||||||||
Latin America | 404 | 433 | 35 | - | - | - | 35 | 468 | ||||||||||||||||||||||||||
Asia | 8 | 18 | 9 | - | - | - | 9 | 27 | ||||||||||||||||||||||||||
Others1 | 42 | 42 | 3 | - | - | 1 | 4 | 46 | ||||||||||||||||||||||||||
Cash & carry | 172 | 171 | - | - | - | - | - | 171 | ||||||||||||||||||||||||||
France | 142 | 143 | - | - | - | - | - | 143 | ||||||||||||||||||||||||||
Europe (ex France) | 18 | 13 | - | - | - | - | - | 13 | ||||||||||||||||||||||||||
Asia | 0 | 2 | - | - | - | - | - | 2 | ||||||||||||||||||||||||||
Others1 | 12 | 13 | - | - | - | - | - | 13 | ||||||||||||||||||||||||||
Group | 12,296 | 11,812 | 284 | 2 | -163 | 0 | 123 | 11,935 | ||||||||||||||||||||||||||
France | 5,650 | 5,655 | 69 | - | -54 | - | 15 | 5,670 | ||||||||||||||||||||||||||
Europe (ex France) | 5,067 | 4,500 | 146 | 2 | -107 | 0 | 41 | 4,541 | ||||||||||||||||||||||||||
Latin America | 876 | 909 | 43 | - | - | - | 43 | 952 | ||||||||||||||||||||||||||
Asia | 406 | 428 | 14 | - | -1 | - | 13 | 441 | ||||||||||||||||||||||||||
Others1 | 297 | 320 | 12 | - | -1 | 0 | 11 | 331 | ||||||||||||||||||||||||||
DEFINITIONS
LFL sales growth: Sales generated by stores opened for at least twelve months, excluding temporary store closures, at constant exchange rates.
Organic growth: LFL sales plus net openings over the past twelve months, including temporary store closures, at constant exchange rates.
Sales under banners: Total sales under banners, including sales by franchisees and international partnerships.
1 Africa, Middle East and Dominican Republic.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170118006328/en/