Groupe Casino posts 5.7% increase in sales for 2016 | Progresiv
France’s Groupe Casino has posted a 5.7% organic increase in sales in 2016, according to a trading statement issued by the retailer. Gross food sales were up 2.2% for the year.
Casino said that Q4 sales stood at 10 billion euros, an increase of 5.1% on an organic basis, which was driven by ‘good same-store growth’. In its core French market, growth in same-store sales in Q4 was up 0.2% in Q4, compared to a 0.6% decline the previous year.
Its Supermarchés Casino business saw an organic increase of 5.2% in the quarter, with Monoprix rising 2.5%. Same store sales were 3.2% and 0.4% higher respectively.
Same-store growth at its Géant hypermarket division were up 2.6% in the quarter, while at Leader Price, its same-store growth was 0.1%, compared to a 2.7% decline in the previous quarter.
‘In France, sales totalled 4,915 million euros in Q4 2016, representing an increase of +0.2% on a same-store basis and a decrease of -0.6% on an organic basis,’ Casino said in a statement.
‘Organic sales were impacted by the transfer of stores to franchise and the rationalisation of the store network. During the quarter, gross food sales under banners(2) rose by +1.6%, excluding the calendar effect. Over the full year, the increase came to +2.2%.’
Commenting on its performance, Bruno Monteyne of Bernstein Research said, “Guidance for French trading profit 'slightly over 500 million euros', slightly above our expectation of €500m. Given that the year has ended this is likely already circulating in early drafts of the financial statements. Bloomberg reports that Casino expects further profit growth in 2017.” (www.esmmagazine.com)