+33 680 38 14 46
Auchan announces upturn in sales
France
Wednesday 16 April 2008
French retailer Auchan announced an increase in sales for 2007, despite the stuttering economic situation in western Europe, with economic progress in central and eastern Europe, as well as in China, coming to the rescue.
According to a company press release, sales excluding VAT rose by 5.8 per cent to €36.7bn in 2007. Results were boosted by the conclusion of two considerable partnership agreements, with Furshet in the Ukraine and Enka in Russia.
Although hypermarket sales increased by an impressive 6.7 per cent, to €29bn, supermarket sales were less robust, particularly in France and Italy, due to a mixture of increased competition and economic slowdown.
While admitting that results for 2007 had not lived up to expectations, chairman Christophe Dubrulle pointed to the investments that had been made during the year. "We were able to invest to prepare for the future," he said. "We shall further strengthen our organic growth in 2008."
"Our business must continue to adapt, boldly, to meet technological changes and the new demands of the consumer," he added.
According to a company press release, sales excluding VAT rose by 5.8 per cent to €36.7bn in 2007. Results were boosted by the conclusion of two considerable partnership agreements, with Furshet in the Ukraine and Enka in Russia.
Although hypermarket sales increased by an impressive 6.7 per cent, to €29bn, supermarket sales were less robust, particularly in France and Italy, due to a mixture of increased competition and economic slowdown.
While admitting that results for 2007 had not lived up to expectations, chairman Christophe Dubrulle pointed to the investments that had been made during the year. "We were able to invest to prepare for the future," he said. "We shall further strengthen our organic growth in 2008."
"Our business must continue to adapt, boldly, to meet technological changes and the new demands of the consumer," he added.
