French retailer Groupe Casino Tuesday said consolidated sales in the fourth quarter climbed 35.2 percent from last year, amid nearly 76 percent increase in international sales owing to full consolidation of Brazil’s Grupo Pao de Acucar or GPA in July 2012.
Total sales climbed to 12.86 billion euros from 9.51 billion euros in the previous year. Organic growth was steady at 3.2 percent.
Sales slid 3.1 percent in France to 4.76 billion euros, amid soft household consumption except for online sales of non-food products. Organic growth in France totaled 2.2 percent excluding petrol and calendar effect.
During the quarter in France, many Group banners dropped prices for private label and entry price products, which accounted for more than 40 percent of sales volume. This policy, funded by lower promotional activity, hurt same-store sales in the quarter.
Géant’s same-store sales fell 9.9 percent, excluding calendar effect, due to the impact of price drops, lower promotional activity and reductions to retail space.
International sales increased 75.9 percent to 8.1 billion euros and organic growth was 8.5 percent excluding petrol and calendar effect. Total International sales accounted for 63 percent of Group sales over the period, compared with 48 percent last year.
by RTT Staff Writer
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