Groupe Casino has posted a dip in quarterly organic sales, as a fall in revenue in the French retail giant’s home market weighed on the group’s results.
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Sales from continuing operations totalled EUR7.12bn (US$10.63bn) in the three months to the end of September, a fall of 1.9%. In the first nine months of the year, organic sales dipped 1.3% to EUR20.56bn.
In France, Casino said a “persistently lacklustre consumer environment” continued to dent its performance. Organic sales, excluding petrol, fell 3.2%.
However, internationally, Casino said its operations continued to perform “well”, with organic growth at 2.9%, excluding petrol.
Casino said it was lifted by the performance of its businesses in emerging markets, where sales increased 4%. Casino said emerging markets now represent more than 30% of the group’s sales, up from 26% in 2008
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By GlobalDataThe retailer said that it is “stepping up” its “action plans” in a bid to increase its appeal to shoppers, maintain margins and “moving up a gear” in the implementation of cost-cutting programmes and product mix optimisation.
Click here for the full press release, or check back later for just-food’s insight into Casino’s Q3.
