Casino draws encouragement from like-for-like revenue growth

Due to store closures, the French retail group Casino saw its revenue decline again in the first quarter, but on a like-for-like basis, there was growth, with Monoprix being the only exception.

Improved profitability

The group’s total revenue fell by 2.7% to 1.95 billion euros in the past quarter. This is primarily attributable to further streamlining of the store network, with another 131 stores closed or divested. On a comparable basis, there was slight growth of 0.3%. The group’s adjusted EBITDA also rose by 10.4% to 110 million euros.

At Monoprix, revenue also declined on a comparable basis, by 0.4% to 968 million euros. Food revenue in particular is under pressure due to a major overhaul of the dry goods offering. Franprix grew by 0.8% to 363 million euros with the same number of stores. The Casino-Spar-Vival neighborhood stores recorded a comparable revenue increase of +2.3% to 296 million euros. The organic chain Naturalia grew by 5.3% to 82 million euros. The gross merchandise volume (GMV) of the e-commerce platform Cdiscount rose by 5.7%, thanks to the marketplace, which grew by 13.1%.