French retailer Casino has booked a slowdown in second-quarter sales as its domestic operations were hit by the economic slowdown in Europe and poor weather.
The company revealed group like-for-like sales growth, excluding petrol, slowed to 1.7% in the second quarter, down from 6.6% in the first three months of the year.
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However, sales in the first half increased 7.5% to EUR17.35bn (US$21.07bn), boosted by a strong international showing.
First-half operating profit rose 11.6%, with international businesses contributing around 60% of operating profit in the period.
Net profit fell 6.7% year-on-year, dropping to EUR125m. Excluding one-off items, net profit remained stable, the group emphasised.
Casino reiterated its targets for 2012, including sales growth in excess of 10%. The group has said that it will focus on price promotions and increase its store-space dedicated to food as it looks to conserve its share of the highly-competitive French market.
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By GlobalData
