Carrefour has reported on sales growth for the second quarter of 2013, up 1.3 per cent at constant exchange rates to €20.5bn despite a slight dip domestically.
At constant exchange rates, like-for-like sales climbed 0.2 per cent with organic sales up 1.1 per cent, although sales at current exchange rates including petrol actually fell 0.6 per cent for the three-month period.
Overall French sales fell 0.2 per cent to €9.65bn, although there was recovery for the group's hypermarket division 'in a challenging environment and despite adverse weather conditions'.
By contrast, international sles grew 2.6 per cent at constant exchange rates, up to €10.8bn, with growth in Latin America and China – although southern European sales remained 'difficult', the group noted.
“As anticipated, Carrefour’s recovery in its home market remains difficult in light of a challenging price-focused competitive environment, alongside an unfavourable economic climate that has taken its toll on non-food sales,' said Gildas Aitamer, retail analyst at Planet Retail. 'Even so, we remain confident that Carrefour’s efforts towards consistency, rationalisation of processes and appointment of expertise in key posts will eventually enable the retailer to get back on track.
“Internationally, with Carrefour now centred on three main geographical areas, and increased capex announced for France, Brazil and China, the retailer is well-configured to look towards long-term growth,' Aitamer added.
