FRANCE: Guyenne et Gascogne sees rally in Q2
French supermarket and hypermarket group Guyenne et Gascogne has seen its second-quarter sales improve on the previous three months, although turnover was still down on the year.
The retailer, a partner of retail giant Carrefour in France and Spain, booked second-quarter sales of EUR137.9m (US$196.1m), a fall of 0.9% on the year. During the first three months of 2009, sales were down 2%.
Over the first half of the year, Guyenne et Gascogne's revenue was down 1.5% at EUR264.9m. Excluding fuel, however, sales were up 4.8%.
"The drop in fuel prices is still skewing comparisons with the previous year, but the second quarter of 2009 confirmed the observations from the previous months, seeming to indicate a relative stabilisation in terms of today's main consumption trends," the company said.
Nevertheless, second-quarter sales from the group's hypermarkets in Spain fell sharply, dropping 8.8%. Over the first half of the year, the retailer's Spanish hypermarket sales also decreased by 8.8%, reaching EUR4.17bn as unemployment rose and food prices fell.
In France, Guyenne et Gascogne said a promotional programme had seen its Carrefour hypermarkets gain market share.
The stores that had been revamped from Champion to Carrefour Market are also seeing "double-digit growth", Guyenne et Gascogne said.
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