Strong turnover and operating results posted by French retailer Cora for FY2017 indicates that the company has been able to stabilise sales and margins, according to French publication Linéaires.
The company reported €4.69 billion in sales, a slight drop of 0.3% from 2016's numbers. The operating result of €158 million can be considered stable when compared to €161 million in 2016.
While these figures may not seem very impressive, French magazine Linéaires points out that Cora's operating ratio at 3,36% is pretty strong when compared to the results of Carrefour (1.93%) or Casino (2.94%) in France.
Alliance With Carrefour Instrumental In Boosting Cora's Operations
Cora's turnover of €5.70 billion in 2007 was reduced to €4.58 by 2014. However, figures of the past years reveal that Cora's alliance with Carrefour in 2016 has been crucial in checking the steady drop in numbers the French retailer had been experiencing.
Cora and Carrefour have also agreed to sell each other's private label offering and this is a sign of trust between the two retailers.
By comparison, Cora is still a smaller player, with Casino posting a €556 million profit for its French operation in FY2017. Carrefour posted a €692 million profit for the same period.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Matthieu Chassain. Click subscribe to sign up to ESM: European Supermarket Magazine.
