Executive Summary

• Carrefour reported that sales including VAT increased by 6.1% year over year in 2Q17, to €21.8 billion, and that comparable group sales rose by 2.8% year over year.
• French comps came in at 1.9% year over year, driven by strength in supermarket and convenience store formats. Hypermarkets returned to positive comp growth in the quarter.
• International comps were up 3.4% in 2Q17, driven by strength in both other European countries and Rest of the World businesses.