Groupe Casino Sees Same-Store Growth Up 2.5% In France In Q3
Groupe Casino has said that total same-store growth in its French retail operations was up by 2.5% in the third quarter of the year, driven by 0.6% growth in its retail segment and 18.4% growth at Cdiscount.
Of its French retail banners, Monoprix posted a 3.1% increase on a same-store basis, with customer traffic increasing by 1.8%. Its Géant Casino hypermarket operation posted same-store growth of 0.8%.
The group posted total sales of €9.2 billion, which were up by 2.2% on a same-store basis. In France, sales stood at €5.25 billion, comprised of €4.76 billion in retail and €487 million in Discount.
"During the third quarter, sales were impacted at seasonal stores by the late start to the school holidays, and at urban stores by the late start to the academic year," Groupe Casino said in a statement. "In addition, fruit and vegetable prices experienced deflation in July and August."
On its Géant performance, Groupe Casino said, "Food sales grew [by] 2.0%, led by groceries, fresh produce and service counters. Sales of organic goods outperformed the market. Sales at adjacent drive-through (103 stores) grew by 10% since the beginning of the year."
Sales were up by 2.0% on a same-store basis at the group’s Latam Retail business, to €3.97 billion, with its GPA Food operation seeing same-store sales go up by 3.3%.
"[Organic sales in the region were up against a context of] strong deceleration in inflation in all countries, especially marked in Brazil," the group said.
Commenting on its performance, Bruno Monteyne of Bernstein Research noted, “Casino's hypermarkets gained share in the last Kantar period, despite continued reduction in space.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.