Cora sees sales rise in France | Progresiv
Belgium-based, Louis-Delhaize operated Cora has seen its sales rise in France, by 3.2% to 4.72 billion euros, according to reports in Linéaires. Cora hypermarkets have been struggling in France in recent years, with a 6.3% contraction in sales seen in 2014, and, therefore, 2015’s performance markets a strong turnaround for the retailer. The strong contraction in 2014 was driven by a wave of price cuts at its stores, which appear to have benefited the retailer in 2015, bring shoppers back to its stores. 
Cora enjoyed an associated rise in operating profit, which increased 22.6% to 154 million euros, while its net profit rose 20.6% to 69 million euros. The retailer reported a margin of 3.3%, which was aided by the buying synergies it has generated through the joint buying organisation it operates with Carrefour in France. (www.igd.com)
