Difficult Q3 for Casino Group in France

The results of the 3rd quarter of 2014 are not great for Jean-Charles Naouri’s group.

Their turnover in France has decreased by -2.7% in like-for-like sales and excluding petrol to €4.7 billion. Géant Casino has seen a -3.9% decrease in like-for-like sales and excluding petrol. The cause is notably the drop in fruit and vegetable prices, and that the summer weather was not favourable to consumption. Casino reminds that “volumes in hypermarkets have grown in PGC-Frais Industrial by +1.4% over the 3Q”. This doesn’t give any information on traffic in sales points, which is stable over the 3Q in Casino supermarkets. Like-for-like sales plummet -4.4%.

Even Monoprix saw a -1.9% decrease over the 2014 3Q. Sales impacted, according to the retailer, by some stores closing at 9pm.
Franprix and Leader Price, according to themselves, have a stable turnover +0.2% in like-for-like sales. The first effects of price dropping in Leader Price can be felt by the “progressive improvement” of traffic.

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