In the first three months of the year, consolidated sales increased 1.1% to 4.2 billion euros despite the absence of Easter in the period and the gradual Sunday trading ban in Poland, corresponding to seven less days of sales in the quarter. The Group’s sales increased 3.2% with neutral Like-for-Like (LfL), at constant exchange rates.
“We had a strong start to the year and this first quarter results reflect that momentum.
All our businesses recorded a very good performance both in sales and profitability. This performance gains increased relevance given the negative calendar effect and the additional days of Sunday trading ban in Poland.
I am confident in our ability to overcome the challenges in sight and to continue to grow above the market for the remainder 2019.”
Compared with the same period of 2018, the first quarter reflected, as expected, a robust performance of all our banners and the vitality of their leadership positions.
In this context, the guidance provided in our February 27th release is kept unchanged.
Note: Performance analysis in this release is presented excluding IFRS16 impact.