PARIS — Hitting its target despite the challenging economic environment and shaky consumer confidence in the French market, Carrefour on Thursday reported a 7 percent increase in third-quarter sales to 24.72 billion euros, or $37.25 billion at average exchange rates.
On a like-for-like basis, the hypermarket operator’s sales rose 2.9 percent.
“We’re on course to meet our objectives for 2008,” said chief executive officer José Luis Duran, noting the firm is nonetheless bracing itself for 2009. “It is obviously going to be a tough environment.”
Sales in France rose 3.5 percent to 10.77 billion euros, or $16.22 billion. Non-food sales fell by 3.3 percent, an improvement over the 8.6 percent drop in the first quarter, with good end-of-season discount sales in clothing, Carrefour stated.
“What we can see is that French supermarkets are performing much better and the most touchy part was the non-food element. It’s very important as it’s one of the real weaknesses of the group, so it’s a very, very good signal,” commented Alexandre Iatrides, a Paris-based analyst for KBL Richlieu. “The sales are much better than expected. We were even expecting a profit warning and have exactly the opposite.”
Excluding France, sales in the rest of Western Europe were up 3.5 percent to 6.71 billion euros, or $10.11 billion, led by a 6.6 percent gain in Spain. In Belgium, however, results dipped 1.4 percent, with a 4.2 percent decline in hypermarket sales.
Representing almost 30 percent of group sales, growth markets for the most part reported strong sales gains, in particular Argentina, Brazil and China, whose sales rose by 27.1 percent, 22.4 percent, and 15.2 percent, respectively. All those businesses are bigger than $1 billion. Carrefour published the figures after the close of the Paris Bourse. Its shares closed up 2.3 percent Thursday to close at 27.75 euros, or $35.85 at current exchange.
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye
Did you know: @carlychaikin of "Mr. Robot" has been painting for about a decade? The actress, who plays Darlene on the show, is a self-taught artist who lists Salvador Dalí and Chuck Close as some of her idols. Chaikin told WWD that painting is a form of meditation for her — A much-needed one given the intensity of "Mr. Robot." See a piece Chaikin is working on at WWD.com (📷: @jilliansollazzo) #wwdeye