Carrefour sales situation in 2011
Carrefour Group annual turnover fell 3.2 % in the first quarter of 2011 in Spain, to 3,269 million euros. By contrast, in the world increased by 3.9%, reaching 24.698 million euros.
The French distributor in Spain recognized that the environment is “difficult”, the same expression used to refer to the results in Western Europe where, in the first quarter, had a turnover fall of 4.7%.
Sales in Western Europe as a whole totaled 4.651 million euros. On the other hand, sales in Latin America grew strongly, with 11.6% increase, and Asia, achieving a total emerging countries sales of 8.212 million euros.
In France, Carrefour increased its sales by 1.8% to 9.283 million euros, but in Spain, the biggest drop in turnover affected the hypermarkets, with a 3.3% decline, to 1.999 million euros.The smaller decline in sales in Spain fell to hard discount activities, with a total of 1,064 million euros, 1.4% less than in the previous quarter.
The managing director of Carrefour, Lars Olofsson, said the group “recorded solid sales growth” and that this “confirms the dynamics observed in 2010.” He said the sales growth is due in large part to increases in Latin America and Asia, especially in Brazil and China and estimated that in Europe there are encouraging signs of improvement both in Belgium and Spain.
During the first three months of 2011 the group opened a total of 231 new stores, representing an area of 116,000 square meters. In late March, the group had a worldwide total of 15,960 establishments, mostly in Europe (5479 in France and 8330 in other countries), followed by 1396 in Latin America and 755 in Asia.
Source:
http://www.cincodias.com/articulo/empresas/caen-ingresos-carrefour-espana/20110414cdscdsemp_21/
Pablo Gonzalez
Finance 2011-2012
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27 Nov 2011
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Pablo Gonzalez Vina
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