French supermarket chain Casino’s first quarter of 2017 resulted in a decent 11.6 % turnover growth mainly thanks to progress in Latin America.

Huge boost in Latin America

Groupe Casino’s total first quarter turnover reached 9.32 billion euro, largely thanks to positive exchange rate fluctuations. Organically and on a like-for-like basis respectively, there would have been a 3.1 % and 2.5 % increase. French turnover slumped 1 %, but Latin America covered that very easily as it posted a 30.2 % turnover increase.

French first quarter turnover dropped to 4.5 billion euro, although it still managed a 0.2 % like-for-like turnover growth on the back of a 1.1 % customer increase. Its Casino supermarkets performed best, with a 4.1 % autonomous and 1.9 % like-for-like growth. Géant Casino lagged behind, with a 1.9 % like-for-like turnover drop compared to the previous year.

Latin American turnover grew to 4.35 billion euro, almost edging out the French market as the company’s largest market. Organically, it achieved a 7.7 % growth and the like-for-like turnover growth was also decent, at 4.6 %. The Assai chain performed exquisitely: organic turnover went up 28.8 % and like-for-like turnover followed suit, with + 12.9 %.