Q2 2015 SALES

Improved activity in France: : Return to growth at Géant and recovery at Leader Price

Increase in food sales in Brazil

Strong growth of the E-commerce business

In France, improved activity: growth in organic sales (+0.4%) and in same-store sales (+0.1%); customer traffic up +2.4% and volumes up +1.8%
- Return to growth at Géant: same-store sales up +2.0% driven by increased traffic (+4.0%) and volumes (+5.0%)
- Recovery at Leader Price: same-store sales by -0.9% compared with -7.1% in Q1; growth in traffic (+7.0%) and market share gain since the beginning of the year (+0.2pt over the most recent Kantar period)

Internationally:
- In Latin America:
  - Food sales up by +6.1% on an organic basis: good performance by food banners in Brazil (GPA Food) (+7.3% in organic sales after +7.1% in Q1) supported by traffic growth
  - Via Varejo: decline in sales explained partly by the high comparison base related to the World Cup and partly by the difficult macroeconomic environment in which, Via Varejo made market share gains (+0.7pt to 26.1% year-to-date at the end of May 2015)
- In Asia, increased volumes and good traffic performance in Thailand, with continued expansion