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• France Retail

In France, sales totalled €4,915 million in Q4 2016, representing an increase of +0.2% on a same-store basis and a decrease of -0.6% on an organic basis. Organic sales were impacted by the transfer of stores to franchise and the rationalisation of the store network. During the quarter, gross food sales under banners⁽²⁾ rose by +1.6%, excluding the calendar effect. Over the full year, the increase came to +2.2%.

· At Géant Casino, sales were up +0.6% on a same-store basis, an improvement compared with Q3 2016. Food sales enjoyed a good performance over the quarter, increasing by +2.6% on a same-store basis versus +1.8% in Q3 2016. The strategy to reduce non-food retail space continued, with a focus on categories facing competition from e-commerce, notably white and brown goods. As a result of this rationalisation, the hypermarkets` total retail space decreased by -1.6% inducing a lift in total sales/sqm by +2.2%. Traffic and total volumes were positive. The banner continued to gain market share: +0.1pt over the last Kantar P13 period.

· Leader Price`s reported sales were notably impacted in Q4 by the closure of 45 integrated stores and transfers to franchise during the year. The change in sales improved significantly on a comparable basis from -2.7% in Q3 2016 to +0.1% in Q4 2016.

· The change in same-store sales at Monoprix improved sharply in Q4 at +0.4% vs -2.3% in Q3 2016. As well, organic growth improved to +2.5% compared with +0.8% in Q3. In non-food, apparel sales rose by +5.5% on a same-store basis in Q4. In food, sales were up +2.4% on an organic basis, thanks to a significant improvement on a same-store basis. The banner`s expansion was dynamic, with 14 new stores opened during the quarter and 60 over the full year⁽³⁾.

· Same-store sales at Supermarchés Casino have continued to accelerate since the beginning of the year, rising by +3.2% in Q4. This very good performance reflects increase in the average basket and in customer traffic, driven in particular by fresh products, strong commercial momentum and improved customer service. Market share widened by +0.1 pt over the last Kantar P13 period.

· At Franprix, same-store sales declined by -1.7%. Customer traffic was up +0.4% (+0.6% in Paris). Over the past 12 months, total growth has been impacted by the transfer of 50 stores to franchises, the closing of 30 stores and by renovations to the new Mandarine concept, which represented 60% of the store base at year-end.

· Convenience continued to upgrade the offering of its integrated stores and to further develop franchise. Franchise sales were up +6.5%.

• 
  Latam Retail

Food sales in Latin America continued to rise, gaining +12.3% on an organic basis and +7.5% on a same-store basis. Factoring in the favourable currency effect, the increase came to +22.5%.

· Exito (excluding the effect of consolidating GPA`s sales) continued to show robust sales growth in Q4 2016, thanks to solid performances in Colombia, Uruguay and Argentina that reflected strong commercial dynamics.

· GPA Food sales in Brazil rose by +13.6% on an organic basis and +7.9% on a same-store basis in Q4 2016. Food sales increased by +14.5% on an organic basis and +8.1% on a same-store basis. Assaí continued to grow at a sustained pace and sales revitalisation measures deployed at Extra are producing very positive results, notably including sharply improved performance at the hypermarkets in Q4.

• Assaí`s sales rose by +36.7% on an organic basis and +17.3% on a same-store basis, with high traffic growth and a sequential improvement from Q3 2016. Expansion remained dynamic with 13 new stores opened over 12 months, of which 8 in Q4 2016. Cash&carry share of sales now represents 36%, versus 30% in Q4 2015

• Multivarejo recorded a strong sequential improvement in sales, up +3.7% on a same-store basis and +2.9% on an organic basis during the quarter (versus +1.8% and +0.0%, respectively, in Q3 2016):

  • Food sales at Extra hypermarkets recorded a very strong progression compared with previous quarter, in food thanks to the new commercial dynamics as well as in non-food. Hypermarket non-food sales became positive again

  • Pão de Açúcar and the convenience formats kept on a good trend.

GPA provided a detailed report on its Q4 sales on 13 January 2017.

• E-commerce

GMV amounted €943 million in Q4 with a growth of +11.3% on a same-store basis. The marketplace`s share of total GMV stood at 31.4% versus 27.8% in Q4 2015. Customer traffic grew by +13.2% and orders were up +23.2%.

Same-store sales increased by +7.8%, thanks in particular to the success of Black Friday and Cyber Monday campaigns.

Cnova provided a detailed report on its Q4 sales on 12 January 2017.

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APPENDICES

Details and sales trends in Q4 2016

Organic growth corresponds to growth at constant scope of consolidation and exchange rates, excluding fuel and calendar effects, unless otherwise mentioned.

France Retail: breakdown and change in gross sales under banners in Q4 2016

2016 sales France Retail

Main changes in the scope of consolidation

• Restatement of activity in Asia

• Reclassification of Via Varejo and Nova under discontinued operations, not included in the Group total

Retrospective application of IFRS 5 to 2015 and 2016 quarterly sales

The Group`s reported sales were impacted by the disposal of food retailing operations in Asia in the first half of 2016 and the process to sell Via Varejo announced by GPA in November 2016. In accordance with IFRS 5, the sales of Via Varejo and its subsidiary Nova Brazil are recognised under discontinued operations and no longer appear in the Group`s consolidated sales. Quarterly data has been restated as from Q1 2015 to reflect the retrospective application of IFRS 5.

Reconciliation of reported 2015 sales with restated 2015 sales

Reconciliation of reported 2016 sales with restated 2016 sales

Exchange rates

Store network at 31 December

ANALYST AND INVESTOR CONTACTS

Régine Gaggioli - Tel: +33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fr
or
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IR_casino@groupe-casino.fr

PRESS CONTACT

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AGENCE IMAGE SEPT
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Karine Allouis - Tel: + 33 (0)6 11 59 23 26 - kallouis@image7.fr

Disclaimer

This press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments.
Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver.
No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.

2017-17-01 - PR - Q4 2016 Sales

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Source: Groupe Casino via GlobeNewswire
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