Carrefour Group has reported Q4 and FY2019 preliminary results for the period ended 31 December 2019.

Carrefour Group

Consolidated sales in Q4 2019 increased 2.5% year-on-year (y-o-y) to EUR21.74 billion at constant exchange rates, while like-for-like (LFL) sales excluding petrol and calendar effects and at constant exchange rates, increased 3.1% y-o-y.

Consolidated sales in FY2019 increased 2.1% y-o-y to EUR80.73 billion at constant exchange rates while LFL sales increased 3.1% y-o-y.

France

Q4 2019:

  • Consolidated sales incl. VAT decreased 2.4% y-o-y to EUR10.34 billion while LFL sales decreased 0.9% y-o-y.
  • Consolidated sales incl. VAT for hypermarkets decreased 4.5% to EUR5.47 billion while LFL sales decreased 3.4% y-o-y.
  • The supermarket channel reported a flat growth rate with consolidated sales incl. VAT of EUR3.33 billion while LFL sales increased 2.2% y-o-y.
  • Consolidated sales incl. VAT for convenience and other formats increased 0.1% to EUR1.53 billion while LFL sales increased 1.1% y-o-y.

FY 2019:

  • Consolidated sales incl. VAT decreased 2.6% y-o-y to EUR38.86 billion while LFL sales decreased 0.1% y-o-y.
  • Consolidated sales incl. VAT for hypermarkets decreased 3.6% to EUR20.02 billion while LFL sales decreased 2.1% y-o-y.
  • Consolidated sales incl. VAT for supermarkets decreased 1.5% to EUR12.81 billion while LFL sales increased 1.9% y-o-y.
  • Consolidated sales incl. VAT for convenience and other formats decreased 1.7% to EUR6.02 billion while LFL sales increased 2.2% y-o-y.

International

Q4 2019:

  • Europe sales excluding France increased 0.3% y-o-y to EUR6.44 billion while LFL sales increased 0.7% y-o-y.
  • Latin America sales increased 17.9% y-o-y to EUR4.49 billion while LFL sales increased 15.1% y-o-y.
  • Asia sales increased 5% y-o-y to EUR464 million while LFL sales increased 1.3% y-o-y.

FY 2019:

  • Europe sales excluding France decreased 0.2% y-o-y to EUR23.35 billion while LFL sales decreased 0.1% y-o-y.
  • Latin America sales increased 17.3% y-o-y to EUR16.46 billion while LFL sales increased 14.6% y-o-y.
  • Asia sales increased 3.2% y-o-y to EUR2.05 billion while LFL sales increased 1.3% y-o-y. Disposal of 80% of Carrefour China was completed on 26 September 2019.
  • The retailer reported a total of 134 Pedestrian Drive pick-up points in France and 1,696 Drives across its various markets, of which 1,110 were in France before period-end.

Stores

As of 31 December 2019, Carrefour Group operated:

  • 12,225 stores across the globe.
  • 5,424 stores in France.
  • 4,959 stores in other European countries excluding France.
  • 1,061 stores in Latin America.
  • 252 stores in Asia.
  • 529 stores in Africa, Middle East and Dominican Republic.

Outlook:

The retailer has reaffirmed the following objectives with regard to Carrefour 2022 transformation plan:

  • A cost-reduction plan of EUR2.6 billion on an annual basis by 2020.
  • Target of EUR4.2 billion in food ecommerce sales and EUR4.8 billion in organic products sale in 2022.
  • Reduction of 350,000 sq.m. of hypermarket sales area globally by 2022.
  • 15% reduction in assortments by 2020.
  • Carrefour private label brands to account for one-third of sales in 2022.
  • 2,700 convenience store openings by 2022.

Source: Carrefour Group