French retailer Casino has said its first-quarter sales edged up 1% due to weak consumer spending in France and a negative currency impact on its international sales.
The company reported first-quarter sales of €5.35bn (US$6.37bn), compared to €5.30bn in the year-ago period. On a constant currency basis, sales rose 3.6%, reported Reuters.
Sales at the company’s French operations, which account for 81% of total sales, rose 3.1% to €4.32bn. International sales fell 7.1% to €1.03bn, mainly due to the strength of the euro against the dollar.
Casino said it was on track with its increased rate of expansion in France, where it is focusing on its discount and convenience stores. In the first quarter it opened 30,000 square metres of retail space, almost three-quarters of which was under the Franprix, Leader Price and Superette banners.
