Carrefour (OTCPK:CRERF)

$ 14.76 -0.13 (-0.87%) Market Cap: 9.57 Bil Enterprise Value: 20.58 Bil PE Ratio: 11.68 PB Ratio: 0.90 GF Score: 76/100

Q3 2019 Carrefour SA Corporate Sales Call Transcript

Oct 22, 2019 / 04:15PM GMT

Release Date Price: $17.04 (-0.23%)

Transcript

Operator

Ladies and gentlemen, welcome to the Carrefour's Conference Call.

I'll now hand over to Mr. Matthieu Malige. Sir, please go ahead.

Matthieu Malige

Carrefour SA - CFO

Thank you. Good evening to all of you and welcome to our 2019 third quarter sales call. You have, no doubt, seen the press release we issued after market closed. You will also find a presentation on our corporate website. Let me first highlight the key messages of our presentation today. First, Carrefour posted another quarter of like-for-like sales growth. In Q3, group's like-for-like sales grew by 2.3% like-for-like, driven by a return to growth in Spain and continued strong momentum in Latin America, with the best like-for-like sales growth in 5 years at Carrefour Retail in Brazil.

Sales in France slightly decreased by 0.9% like-for-like, reflecting a high comparable base, price investments and reduced promotional intensity, especially in the hypermarkets. And food e-commerce sales grew above 30%.

Second, we maintained a determined pace of execution of the Carrefour

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