FRANCE: International sales boost Casino FY
French retailer Casino Group has recorded an increase in fourth-quarter and full-year sales, boosted by international revenue growth.
Sales in the 12 month period climbed 22.1% to EUR41.97bn (US$55.83bn), while in the fourth quarter sales were up 35.2% to EUR12.9bn. Casino attributed the increases to strong international sales growth, primarily due to the full consolidation of Brazil's Grupo Pao de Acucar in July.
International sales for the year were up 50.7% to EUR23.52bn, and in the quarter soared 75.9% to EUR8.10bn.
Domestic sales, however, were down in the quarter by 3.1% to EUR4.76bn and for the full year slid 1.6% to EUR18.45bn. Casino blamed price reductions and the ongoing decline in hypermarkets' multimedia sales for the drop.
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