FRANCE: Carrefour recovery continues with strong Q1 growth | Progresiv
Carrefour has reported a strong set of results for its fiscal first quarter, underlining its recovery under new CEO Georges Plassat. For the quarter, group revenue was up 8.6% to 21 billion euros (excl. petrol), with like-for-like sales up 3.2%. The results cheered investors, who sent its shares up to the highest level in four years. 
The group was helped by 7.9% growth in its home market (the ninth straight quarter of increase), although on an organic basis, revenue rose by 2.6% and LFL sales were up 2.5%. The growth was led by increases across all formats, with hypermarkets up 2.2%, supermarkets up 2.0%, and convenience and others up 6.2%.
Interntionally, Carrefour continued to record stong performances in Latin America, where sales were up 16.6% on an organic basis (+12.5% LFL). The group also recorded a 0.9% increase in sales across the Rest of Europe (+0.9% LFL), a positive sign. The Asian operations, however, continued to struggle, with organic revenue down 10.5% (LFL -11.3%). (www.kamcity.com)
