French retailer Carrefour posted a 4.8% sales rise on the Romanian market in the first half of 2009 compared with the same time last year, to 532 million euros (VAT included), having expanded by 9 hypermarkets during this period.
The company’s sales in RON went up by 21% in the mentioned period. The recently published report of the French group also reveals that like-for-like sales (in stores opened before July 2008) in euros were down by 6.1% in H1 of 2009 against H1 of 2008. Considering that the Romanian currency underwent a 15% devaluation in the respective interval, according to statistics of the NBR (National Bank of Romania), the sales rise of older stores can be put at 5-10%.
Carrefour is the largest player on the hypermarket segment in terms of sales, with 23 stores currently operating. Results reported by the group also include sales of the Carrefour Express supermarket network, which now includes 22 stores.
In the second quarter of the year, the retailer saw similar sales dynamics to the evolution reported in the first quarter: a 3% rise in euros, while the network’s older stores saw a 7% decrease against the second quarter of 2008. This compares with an almost 7% drop in the first quarter against the similar period of last year, and a 5% decrease in like-for-like sales.
Carrefour is the first international retailer in the FMCG sector to have released its half-year sales.
Food, drinks and tobacco sales saw a turnover stagnation in the first five months of the year, according to data from the INS (National Statistics Institute). Amid a slowdown in consumer spending, the large hypermarket networks are halving their investments in expansion, although they had originally planned to accelerate the process.
The French group is the third-largest player on the Romanian trade market, after German-based Metro (Metro, Real) and Rewe (Selgros, Penny Market, Billa).
