Groupe Casino has posted 2.9% growth on an organic basis and 1.5% growth on a same-store basis in its home French market in the first quarter of the year, according to results posted today (14 April).
The retail group's Géant Casino hypermarket operation saw 4.0% growth (same-store and organic), with 'positive non-food sales and continuous gains in market share', the retailer said.
Its Leader Price format also displayed good growth, of 7.2% on organic basis and 4.5% on a same-store basis.
In Latin America, food sales were up 8.3% on organic basis, while in its e-commerce division, gross merchandise volume was up 4.2% at constant exchange rates.
Commenting on its performance, Bernstein Research said that Géant's like-for-like sales were "in line with our expectations, and the banner is gaining market share suggesting that recent price rises have not impacted trading."
It added that a solid start to trading in the French market implies that the retailer is "on track to meet EBITDA guidance of €900m for the full year. The guidance provided by management of €900m EBITDA in France in 2016 is dependent on them making French LFL of 1.5% and this result puts them in line to deliver."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
