Groupe Casino Sees Sales Return To Growth In Third Quarter

By Steve Wynne-Jones
Share this article
Groupe Casino Sees Sales Return To Growth In Third Quarter

French retailer Groupe Casino has said that sales momentum gradually improved in the third quarter, as easing COVID-19 restrictions helped its performance in France, while sales growth in Brazil, the group's second-largest market, remained robust.

Casino, which has been selling assets to reduce its debt burden, confirmed it was pressing ahead with a disposal plan aimed at raising €4.5 billion, with €3.1 billion of deals signed or secured to date.

Sales at the group, which controls Brazil's Grupo Pao de Acucar, totalled €7.7 billion in the third quarter.

On a same-store basis and excluding fuel and calendar effects, group sales rose 1%. That compares to a 4.1% decline in the second quarter when its city stores in France suffered from a lack of tourists and coronavirus curfew measures.

In France alone, sales were down 4.3% in the quarter after falling 8.4% in the second quarter.


French Retail Performance

'In a declining food market shaped by the reopening of the out-of-home food industry, the impact of the health pass on hypermarkets, and a Paris region still feeling the effect of the drop in tourism, the various banners saw a gradual return to growth,' Casino said in a statement.

Its Monoprix banner was down 4.1% in the quarter, while Franprix fell by 3.6%. Its supermarkets business fell 2.7%, convenience stores dropped 1.3%, and its hypermarkets division dropped 8.5%.

It saw an 'acceleration' in food e-commerce, with home delivery sales up 72% in the Ile-de-France region, largely outperforming the broader home delivery (+29% in France) and food e-commerce (+7% in France) markets, the group said.

In terms of rising food prices, Casino said that it 'does not currently anticipate any material inflationary effect' for full-year 2021.


News by Reuters, edited by ESM. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.