Casino Group publishes on July 27, 2023 its Second-quarter 2023 net sales and first-half 2023 results.
Consolidated net sales of €5.5bn in Q2 2023 (down -1.2% LF).
- France Retail net sales down -4.2% on a LFL basis, reflecting growth in the Parisian and convenience banners (+2.6% LFL) and a decline in hypermarket and supermarket net sales.
- LFL growth of +7.6% in Latin America, with good performances at GPA and Grupo Éxito.
A quarter driven by accelerating market share gains and higher same-store sales.
Highlights:
- Continued expansion in convenience formats, with 369 new stores opened in the first half, bringing the total number of sales outlets in convenience formats in France to over 8,000 out of a total of almost 9,300 stores in France.
- Partnership strategy :
> Groupement Les Mousquetaires :
- Current alliances extended until 2028.
- New alliance for private-label food products and a supply agreement concerning seafood and meat.
- Sale of a number of sales outlets representing around €1.05bn in net sales (with €549m by the end of 2023).
> Amazon partnership:
Extension of the partnership with the launch of a new Amazon/Monoprix offer for all Amazon Prime subscribers (-10% in-store and online discount at Monoprix).
> Prosol group :
Partenership under which the Prosol group would implement its “Fresh” concept (fruit and vegetables, dairy products, fish, meat) in Casino hypermarkets and supermarkets and in certain Monoprix stores.
- Casino Hypermarkets and Supermarkets significantly cut their prices at the end of Q1 2023, enabling us to target a price index of 110 in Hypermarkets and 115 in Supermarkets.
- Strengthening the Leader Price offering: 100% of HM/SM carry Leader Price products; Leader Price shops-in-shops have been rolled out in 235 supermarkets and 61 hypermarkets ; 23 shops-in-shops planned by the end of the year in Franprix.
To listen the replay of the conference call:
