Carrefour Reports Major International Growth in 2000

PARIS, France (22 January) - For 2000, French hypermarket giant Carrefour Group has reported a consolidated turnover increase of 25% (including tax), valued at around EUR 73.1 billion. A deeper look into this figure shows how important the international business of Carrefour became that year. When compared to the 1999 figures, the French group's sales abroad skyrocketed by 58.3% to total EUR 34.9 billion, a very strong achievement when compared to total sales in France which grew by a disappointing 4.7% totaling EUR 63.7 billion. Nevertheless, the stock market hasn't reacted to Carrefour Group's sales increase. At EUR 60, the share price is closer to the yearly low of EUR 59.15 than its yearly high of EUR 93.15. According to industry observers this is "the result of a slower than expected sales development in the last months of 2000". Since the takeover of competitor Promodés in 1999, Carrefour Group established itself as one of the world's top five largest retailers with an international portfolio. Carrefour does not only sell bicycles under its private label Topbike (created in 1990) but also many no-name bicycle products. Currently the French hypermarket giant's annual bicycle sales are estimated to be around one million units and between 450,000 to 500,000 in its home market, making it arguably the second largest bicycle distributor in France. All in all Carrefour Group overlooks about 9,000 outlets in more than 27 countries. It employs about 335,000 people worldwide. (JB)