Auchan cannot stop French turnover slide

Auchan cannot stop French turnover slide

French supermarket chain Auchan has not been able to stop its turnover from slipping once again in the first half of 2015. Total turnover and its like-for-like turnover both dropped in the past 6 months.

Strong Asian performance

Auchan's French turnover dropped 2.9 % to 9.1 billion euro, which is a 2 % like-for-like turnover drop. The company has experienced turnover drops in France for the past two years now.

 

The group's total turnover did increase 3.4 % to 26.9 billion euro and would have had a 2 % turnover growth if exchange rates had remained stable. A 28.6 % turnover increase in Asia was the major contributor, although exchange rates were a huge factor. Excluding those, local turnover would have increased 7 %.

 

Auchan not only experienced a French turnover drop, but a 4.4 % turnover drop for the entire Western European market, down to 4.8 billion euro. Its Central and Eastern European activities had to deal with a 6.4 % turnover drop, which would have turned into a 10.6 % turnover increase if exchange rates had remained stable.

 

Arcimbo formula canned

Alongside its published results, Auchan revealed it canned its Arcimbo formula after a failed trial period. Auchan Ville and Coeur de Nature will stay on as formulas. The latter will get new stores in Île-de-France for example, with the very first Auchan Gourmand planned for opening in 2017 in Marseille.

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