French retailer Casino has recorded robust sales growth of 18.2 per cent for 2011, according to the company, driven by its international subsidiaries but aided also by a good domestic performance.
Chairman and CEO Jean-Charles Naouri hailed this 'solid contribution' on the French market, where profitability recovered in the second half of the year 'thanks to the impact of the action plans implemented'.
Although trading profit in France still declined by 2.6 per cent for the full year, it rose by some 13.3 per cent in the second half, in part due to an upswing at its Leader Price fascia, as well as the performance of its online sales.
However, it was the group's international operations that saw the strongest growth, with sales rising by 40.4 per cent.
Planet Retail analyst Magali Dubreil commented said that a key aim for Casino this year would be to generate more than half of its revenue and trading profit from high-growth countries.
'In Brazil, for instance, Casino has the opportunity to take control over leading local retailer CBD,” she said.
In France, she said, the focus should be on developing smaller formats such as convenience and discount stores, as well as increasing sales of its e-commerce site, Cdiscount.
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