Carrefour is the No. 1 distribution group in Europe and No. 2 in the world. Net sales by type of store break down as follows:
At the end of 2008, the group had 8,006 company-owned stores located in France (1,644), Europe (4,685), America (1,053) and Asia (624).
Net sales are distributed geographically as follows: France (43.7%), Europe (37.3%), Americas (12%) and Asia (7%).
|Fiscal year end||12.08||12.07||12.06|
|Length of fiscal year (months)||12||12||12|
|Currency & Unit||EUR - THOUSANDS||EUR - THOUSANDS||EUR - THOUSANDS|
The company, second only to U.S.-based Wal-Mart Stores Inc. among the world's biggest retailers, said it made the net loss in the six months through June, compared to a net profit of euro744 million a year earlier.
Revenue fell 1.6 percent in the first half to euro41.27 billion ($58.88 billion).
New CEO Lars Olofsson, appointed last year to improve performance, said Carrefour is operating in a challenging environment, but that sales were resilient, and the company is on track to meet its 2009 targets.
Carrefour is targeting full-year operating profit of up to euro2.8 billion ($4 billion) if current sales trends continue. In the first half, operating profit -- what Carrefour calls activity contribution -- fell 28 percent to euro1 billion ($1.43 billion).
Results from July and August showed no change in the economic environment, Chief Financial Officer Pierre Bouchut said on a conference call.
In the first half, Carrefour said it gained market share in France, which accounts for about 40 percent of sales, even through revenue fell by 3.6 percent there.
The world's No. 2 retailer plans to spend euro600 million ($856 million) this year on promotions and other discounting to build market share. Olofsson has said his priority is to improve performance in France, where it launched a new low-cost range of products called Carrefour Discount this year.
Carrefour booked euro511 million ($730 million) in charges in the first half, including euro60 million ($85 million) in restructuring charges and a euro400 million ($570 million) impairment charge after adjusting for the market value of Italian company Finiper, in which Carrefour owns a 20 percent stake and which it may be forced to buy under a put option.