direct/Carrefour: Trading Statement

(openPR) Trading Statement

July 12th 2005

In Q2, pro forma group sales ex-currency increased 3.1% (+4.1% inc. currency) in a deflationary environment across Europe

Sales in France increased 0.2%. Hypermarkets again increased customer transactions and won market share

table as attachment to the press release:
http://www.directnews.de/servlets/LoadBinaryServlet/732593/trading_statement.pdf

- In the second quarter, Carrefour pro forma group sales, including VAT, but ex-currency, grew 3.1%. Including currency, sales grew 4.1%. On reported Q2 2004 numbers, sales growth was 1.9% and 2.9% respectively (Mexico and Japan were deconsolidated as of the 1st January 2005).

- As we have highlighted in recent communications, the trading environment in Europe is very challenging. We have seen deflation and weak market volumes across most of Europe since the end of last year. In the second quarter, however, these trends have been even more apparent. In this tough environment, our goal has been to consistently out perform the competition and win market share. To this end, we have made progress in the quarter.

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