FRANCE: Casino Reports Solid FY Sales Growth

Groupe Casino has reported a solid rise in sales for its last fiscal year, helped by improvement in its home market.

For the year, sales were up 2% to €36bn, but they rose by 5.7% on an organic basis, even as trading profit grew by 3.7% to €1.03bn.

In France, sales were up 0.8% on an organic basis (+0.3% reported), with the group growing its market share by 10bps. The results were helped by a 2.7% increase in like-for-like sales at the Géant banner, as well as expansion of the Leader Price, Franprix, and Monoprix banners.

Food sales in Latin America rose by 11.4% on an organic basis (+3.6% reported), boosted by improved results at its Brazilian hypermarkets and continued strength at its cash & carry outlets across the region.

And finally, e-commerce sales were up 7.9%, with a 13.6% rise in Gross Merchandise Volume.

Jean-Charles Naouri, Chairman and CEO, noted that the group “aims to continue growing its sales and results in 2017. It will continue to adapt to new consumer trends by developing the most buoyant formats, premium, discount, proximity and e-commerce”.