Casino has booked an increase in third-quarter sales, with its stores in Latin America and Asia again offsetting lower revenues in France – although the retailer claimed positive signs from its domestic business.
A mix of strong same-store sales in Latin America and expansion in Asia helped Casino in a period when organic sales in France – excluding fuel – again fell.
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However, Casino said all its French banners saw “sequential improvement”. It noted traffic and FMCG volumes at its French hypermarket chain Géant “turned positive”. The results in France pushed up Casino’s shares this morning.
The company, which published its numbers after the market closed yesterday, reported net sales from continuing operations of EUR11.78bn (US$15.94bn) for the three months to the end of September, only 0.1% higher year-on-year.
However, the strength of the euro weighed on the retailer, which has operations in markets including Brazil, Thailand and Vietnam. At constant exchange rates, net sales were up 10%.
Excluding petrol and the effect of calendar shifts, international organic sales were up 12.5%, with same-store sales increasing by more than 9% in Latin America. Same-store sales in Asia inched up only 0.6% but, on an organic basis, sales rose 8.5%, thanks to expansion.
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By GlobalDataIn France, organic sales were up 8.1% but excluding petrol fell 2.9%.
Casino’s shares were up 3.17% at EUR82.22 at 11:07 CET as the market reacted to what it saw as better-than-expected sales figures in France.
