FRANCE: Brazil buoys Casino Q1 sales
By: just-food.com | 14 April 2010
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Casino's CBD reported a jump in Q1 sales yesterday |
Groupe Casino today (14 April) booked a 5.6% rise in first-quarter sales thanks to "very strong gains" in Brazil, where the French retailer is majority shareholder in the local largest retailer CBD.
Casino said revenues from continuing operations, with 2009 data restated for the sale of Dutch retailer Super de Boer, rose 5.6% to EUR6.61bn (US$9.03bn).
Revenues were boosted by the strength of the Brazilian real against the euro but, on a constant-currency basis, were up 3.5% - or 2.6% excluding fuel.
International sales jumped 10.6% to EUR2.38bn on an organic basis.
"International operations, which represented 36% of sales, saw a sharp acceleration in organic growth, to 10.6% from 4.8% in the fourth quarter of 2009," Casino said. "Operations in South America reported double-digit growth - 13.3% - impelled notably by the very strong gains in Brazil."
However, sales in France dipped 2.3% to EUR4.23bn. Excluding fuel, sales in France fell 0.9%.
Nevertheless, Casino said the trend in its domestic sales had improved in the first three months of 2010 and pointed a 2.7% fall in sales in the fourth quarter of 2009.
Sectors: Emerging markets, Financials, Retail
Companies: Casino, CBD, Super de Boer
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