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