Casino Guichard-Perrachon, the French supermarket retailer, said on Tuesday that its third-quarter sales beat expectations lifting the shares 0.6% to €49.15 in early trade in Paris.
Organic sales rose by an annual 3.4% to €9.2bn, slightly ahead of analyst expectations thanks mainly to growth in its Monoprix and Geant brands.
While growth at its Latin American unit, which includes Brazil's top retailer Grupo Pao de Acucar, appeared strong at 6.1% year on year, it looked less robust compared with the 13.2% growth during the same period last year.
However, the company explained the LatAm results had to be noted in the "context of strong deceleration in inflation in all countries, especially marked in Brazil".
- Monoprix - sustained growth of +4% on an organic basis and +3.1% on a same-store basis, with customer traffic up +1.8%
- Geant Casino - same-store growth of +0.8% led by a good performance in food sales (up +2%) and better non-food sales. Market share gain of +0.1 pt
- Cdisount - sharp increase in same-store sales: up +18.4% versus +6.7% in Q2. Same-store GMV up +14.9% in Q3, with sustained traffic and market share gains
- In all, cumulative Géant and Cdiscount non-food sales increased by +11.2%