EVRY (dpa-AFX) - French grocery retailer Carrefour Group (CRERF.PK, CRRFY.PK) Thursday said its third-quarter organic sales grew 2.8 percent, with further sales growth in France and strong performance internationally, particularly in Brazil and Argentina.
Sales edged down 0.1 percent at current exchange rates, while it was 1.8 percent growth at constant exchange rates.
For the third quarter, sales, including value added tax or VAT, totaled 21.08 billion euros. Sales were impacted by a currency effect of 1.9 percent. Impact of petrol prices was 1.0 percent, while the calendar effect was neutral this quarter.
France recorded further organic sales growth during the quarter, helped by strong comparables despite unusually heavy rainfall in July and August, as well as a significant cyclical decrease in fruit and vegetable prices. The drop in petrol prices at the pump had an impact of negative 1.5 percent.
In France, sales including VAT was 10.04 billion euros, a decline of 1.1 percent at current and constant exchange rates. Organic growth was 0.2 percent.
Sales at hypermarkets were down 0.2 percent on an organic basis and declined 0.7 percent on like-for-like basis. Sales at supermarkets decreased 1.1 percent on an organic basis, and like-for-like sales were down 1.2 percent from last year.
Internationally, the firm witnessed organic growth of 5.0 percent, particularly benefited by performance in Brazil and Argentina. Sales including VAT totaled 11.04 billion euros, an improvement of 0.8 percent at current exchange rates, and up 4.4 percent at constant exchange rates.
In other European countries, organic sales showed a decrease of 1.6 percent.
In Latin America, organic sales climbed 18.5 percent. In Brazil, the growth was 12.8 percent helped by strong comparables of 8.2 percent.
Expansion in Asia continued and contributed 3.4 percent to sales evolution. In total, organic sales were down 3.3 percent on a challenging comparable base.
In China, expansion generated growth of 4.5 percent, while organic sales dropped 3.7 percent in a persistently frugal consumption environment.
Including petrol, total sales under banners stood at 25.4 billion euros, an increase of 2.1 percent at constant exchange rates. Total sales under banners include sales by franchisees and international partnerships.
In Paris, Carrefour shares closed Wednesday's trading at 22.09 euros.
Copyright RTT News/dpa-AFX