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.

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.