French retail giant Casino has recorded an increase in annual sales during 2010, led by double-digit gains from its international operations.
Last year, Casino’s consolidated sales rose by 8.7% to reach EUR29.08bn (US$38.96bn). Organic sales growth, excluding petrol, stood at 3.9%, the retailer said today (19 January).
Casino said it expects international operations to account for around 45% of consolidated sales in 2011, versus 38% in 2010.
Last year, Casino’s operations in South America recorded sales growth of 25.6%. In the retailer’s stores in Asia, sales climbed 19.2%.
In France, sales rose 1.7%. Same-store sales in the retailer’s Franprix stores rose 0.7%. At its Leader Price chain, same-store sales climbed 1.4% and, for the Geant Casino hypermarkets, same-store sales were up 1.3%. Casino’s supermarket banner saw same-store sales increase 2.4%, while Monoprix recorded 2.5% growth.
“We are pleased with the very sustained growth in group sales and the fast expansion in our international business, which accounts for a growing proportion of our revenue stream,” said Jean-Charles Naouri, chairman and CEO of Casino. “In 2011, our group will gain the full benefit of the partnership and acquisition carried out late last year in Brazil and Thailand, and will focus on sustaining the renewed growth in our operations in France.”
Casino shares rose 2.6% to EUR72.97 at 10.25am BST today.
Click here to view the full earnings release.