Q1 2009 sales inc. VAT: €22.7bn
Q1 2009 sales including VAT: €22.7bn, -1.4% at constant exchange rates
Sales excluding petrol were flat at constant exchange rates despite a challenging comparable base
Sales were up 1.5% excluding petrol and adjusted for calendar effect*, in line with the Q4 2008 performance

In France, tangible gain in market share**, with broadly stable sales excluding petrol and calendar effect:
- Market share gains in all formats, notably in hypermarkets
- Hypermarkets are resilient thanks to promotional efforts
- Carrefour Market continues to report strong performances with 385 stores converted to the new banner at the end of March

Internationally, mixed performances:
- In Spain, deterioration in the economic environment, impacting hypermarkets in particular. Good performance of hard discount.
- In Latin America, continued growth (+14.4% at constant exchange rates)
- Slowdown in China (+3.1% at constant exchange rates vs +6.9% in Q4 2008)
- In most other growth markets, the group reported market share gains, despite unfavourable consumer trends

Consumer trends observed in the Fourth Quarter extended into the First Quarter of the year with a decline in non-food purchases and a shift to Carrefour-branded products in food. The easing of food price inflation, already notable in Q4 2008, accelerated in virtually all our markets.

Lars Olofsson, Chief Executive Officer of the Carrefour Group, stated:

"Carrefour recorded a resilient first-quarter sales performance in an environment that remains tough, thanks notably to our strengthened commercial dynamics. In 2009, we will continue be on the side of our customers to win market share. The measures we have initiated to transform our way of operating and reduce our costs will produce their effects mainly in the second half of the year. The generation of free-cash flow remains a priority and we will achieve this through improved inventory management and heightened selectivity in capital expenditure. Carrefour teams are currently working on implementing the strategic guidelines we have defined in order to significantly improve the Group's performance."


*Calendar effect: principally due to the fact that there was one day less in February 2009 compared to 2008 and that Easter is celebrated in April in 2009 vs. March in 2008
**Source: TNS WorldPanel- January-March 2009