FRANCE: Casino Sees Improvement In Q1

Casino has reported improved results for its fiscal first quarter, helped by a strong performance in Latin America.

For the quarter, total sales were up 11.6% to €9.3bn (+3.6% organic basis), while like-for-like sales rose by 2.5%.  The results, however, marked a slowdown on an organic and LFL basis from the previous quarter.

Sales in France declined by 1% to €4.5bn (-0.5% organic), although LFL sales edged up 0.2%.  The results were hurt by declines at its hypermarkets, convenience, Leader Price, and Franprix formats, although this was partially offset by gains at its supermarkets and at Monoprix.

Meanwhile, sales across Latin America surged up 30.2% to €4.35bn (+7.7% organic), on LFL growth of 4.6%.   Both Exito and GPA delivered strong growth, with the Assai banner in particular doing very well.

Finally, the Cdiscount unit saw gross merchandise volume (GMV) rise by 5.2% to €770.4m, with LFL sales up 7.7%.  Casino said it saw improved results as the quarter progressed, with traffic up 11.4%.