French grocery retailer Carrefour Group (CRERF.PK,CRRFY.PK) recorded Group sales of 21.08 billion euros, including VAT, for the third quarter of 2013. The Group's organic growth reached 2.8%. The currency effect was 1.9% and the impact of petrol prices was 1.0%, while the calendar effect was neutral this quarter.
Quarterly total sales under banners, including petrol, stood at 25.4 billion euros, up 2.1% at constant exchange rates.
By region, France recorded further organic sales growth this quarter on the back of strong comparables despite unusually heavy rainfall in July and August and a significant cyclical decrease in fruit and vegetable prices. The drop in petrol prices at the pump had an impact of -1.5%.
In Latin America, organic sales grew by 18.5%. Currencies had an impact of -10.6% as a result of the depreciation of the Argentine peso. In Brazil, organic sales rose 12.8% on the back of strong comparables of +8.2%. Expansion in Asia continued and contributed 3.4% to sales evolution. In total, organic sales were down by 3.3% on a challenging comparable base. Currencies had an impact of -0.5% in the quarter. In China, expansion generated growth of 4.5%, whereas organic sales dropped by 3.7% in a persistently frugal consumption environment.
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