French retailer Casino has reported strong sales growth for the fourth quarter, thanks to the continued resurgence of its French operations and strong demand in Latin America and Asia.
In the last quarter to the end of December, net sales were up by a reported 13.4 per cent to €8.3bn, with domestic sales rising by 3.8 per cent to reach €4.82n.
The group said that such results in France attested to the 'effectiveness of the sales initiatives undertaken at Leader Price and Géant'.
International sales rose by 30 per cent to €3.5bn, in part due to the company's purchase of Casas Bahia in Brazil, as well as favourable currency fluctuations.
For the full year, sales saw an improvement of 8.7 per cent, rising to some €29.1bn, with domestic sales increasing by 1.7 per cent to €18bn and international sales rising by 22.3 per cent to €11.1bn.
Looking to the future, Casino's chairman and CEO Jean-Charles Naouri commented: 'In 2011, our Group will gain the full benefit of the partnership and acquisition carried out late last year in Brazil and Thailand, and will focus on sustaining the renewed growth in our operations in France.'
