Latin America saves the day for Casino

Latin America saves the day for Casino

French Casino, the parent company of (among others) Géant and Monoprix, saw its turnover increase by 1.8 % in the past quarter. However, the growth is predominantly international: in France, there was a decline in turnover.

 

On schedule

Casino published a total turnover of 9.05 billion euros, which is pretty much in line with analysts' expectations. In France, turnover fell by 4.4 %, partly as a result of divesting loss-making stores. The segments on which Casino focuses most (e-commerce and convenience stores) performed below expectations; meanwhile, hypermarkets and supermarkets performed a little better. The distributor confirms all its objectives in France and says that the figures are in line with the plan to save 130 million euros per year.

 

The group's Latin American activities grew by 11 % (of which 9.6 % was organic growth) to 4 billion euros. The company also benefited from favourable currency effects.