Yahoo Finance Casino group : Sales as of 2016
SALES AS OF 2016
Full-year 2016 sales up +5.7% on an organic basis; in France, gross food sales under banners(1) up +2.2% annually and market share up +0.1pt(2)
In Q4 2016, acceleration in same-store growth in France and continued excellent performance in Latin America
Full-year 2016 sales totalled €36 billion, for organic growth of +5.7%
In Q4 2016, sales totalled €10 billion, with reported growth of +9.1% and +5.1% on an organic basis sustained by a good same-store growth
In France: growth resumed in same-store sales, up +0.2% versus -0.6% in Q3 2016
Sustained organic growth at Supermarchés Casino (+5.2%) and Monoprix (+2.5%) in Q4 2016; acceleration in same-store growth of Supermarchés Casino and Monoprix at +3.2% and +0.4% respectively (versus +2.8% and -2.3% in Q3 2016)
Acceleration in food same-store growth sales at Géant Casino(3) (+2.6% versus +1.8% in Q3 2016) and sharp improvement in sales at Leader Price, with same-store growth of +0.1% versus a decrease of -2.7% in Q3 2016
In Latin America(4): sales up +12.3% on an organic basis and +7.5% on a same-store basis, driven by growth in both Brazil and Colombia
Exito (excluding Brazil): good organic and same-store performance
GPA Food: strong increase in same-store sales at +7.9% driven by growth resumption at Multivarejo and a very good performance at Assaí
E-commerce(4): GMV up +11.3% and sales up +7.8% on same-store basis
Full-year 2016 trading profit in France (estimated and unaudited) is slightly over €500 million
BY SECTOR | Q4 2016/Q4 2015 change | Full-year 2016/Full-year 2015 change | |||||||
Sales in €m | Q4 | Total | Organic | Same-store growth | 2016 | Total | Organic | Same-store growth | |
France Retail | 4,915 | -0.5% | -0.6% | +0.2% | 18,939 | +0.3% | +0.8% | +0.3% | |
Latam Retail | 4,539 | +22.5% | +12.3% | +7.5% | 15,247 | +3.6% | +11.4% | +6.6% | |
E-commerce | 584 | +5.9% | +5.9% | +7.8% | 1,843 | +7.9% | +8.8% | +9.5% | |
TOTAL GROUP | 10,039 | +9.1% | +5.1% | +4.2% | 36,030 | +2.0% | +5.7% | +3.8% | |
Following the year-end decision to sell Via Varejo and in accordance with IFRS 5, Via Varejo has been reclassified under discontinued operations and is no longer included in the Group`s consolidated sales in 2016. Detailed impacts are presented in the appendices to this press release.
NB: Organic and same-store changes exclude fuel and calendar effects |
Q4 TRADING
France Retail
Q3 2016/Q3 2015 change | Q4 2016/Q4 2015 change | |||||||||||
BY BANNER | Q3 2016 | Total growth | Organic growth | Same-store growth | Same-store growth | Q4 | Total growth | Organic growth | Same-store growth | Same-store growth | ||
Hypermarkets | 1,233 | -0.4% | +0.4% | +0.2% | +3.7% | 1,254 | -0.3% | +0.7% | +0.7% | +3.5% | ||
o/w Géant Casino | 1,147 | -0.6% | +0.3% | +0.3% | +4.2% | 1,182 | -0.4% | +0.6% | +0.6% | +3.6% | ||
Leader Price | 597 | -7.6% | -4.6% | -2.7% | -0.5% | 655 | -2.6% | -5.9% | +0.1% | +3.1% | ||
Monoprix | 971 | +1.1% | +0.8% | -2.3% | -0.2% | 1,154 | +2.4% | +2.5% | +0.4% | +0.5% | ||
Supermarchés Casino | 903 | +3.3% | +4.5% | +2.8% | +3.5% | 829 | +4.1% | +5.2% | +3.2% | +3.2% | ||
Franprix | 370 | -6.5% | -1.9% | -0.1% | +0.5% | 402 | -5.1% | -4.5% | -1.7% | -1.6% | ||
Convenience | 686 | -1.7% | -2.1% | -3.9% | +0.5% | 621 | -6.5% | -6.9% | -4.8% | -2.5% | ||
o/w Convenience | 417 | -0.6% | -0.9% | -2.3% | +6.0% | 313 | -6.4% | -6.3% | -6.1% | -0.4% | ||
FRANCE RETAIL | 4,760 | -1.1% | +0.0% | -0.6% | +1.8% | 4,915 | -0.5% | -0.6% | +0.2% | +1.6% | ||
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%.
(1) Others: mainly Vindémia and cafeterias |
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.
E-COMMERCE (CNOVA)(1) | Q4 2015 | Q4 2016 | Total | Same-store |
Gross merchandise volume (GMV)(3) including tax | 883.5 | 943.2 | +6.8% | +11.3% |
Traffic (visits in millions) | 223.7 | 253.3 | +13.2% | |
Active customers(4) (in millions) | 7.3 | 8.2 | +11.1% | +12.9% |
Units sold (in millions) | 14.4 | 17.1 | +19.1% | +21.5% |
Orders(5) (in millions) | 6.8 | 8.2 | +21.1% | +23.2% |
(1) Data published by the subsidiary |
***
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
ESTIMATED GROSS SALES | Q4 2015 | Q4 2016 | Change | |||
Hypermarkets | 1,078 | 1,076 | -0.2% | |||
Leader Price | 724 | 732 | +1.1% | |||
Monoprix | 1,159 | 1,185 | +2.2% | |||
Supermarchés Casino | 727 | 767 | +5.4% | |||
Franprix | 460 | 446 | -3.0% | |||
Convenience & Other | 738 | 704 | -4.6% | |||
o/w Convenience | 393 | 376 | -4.2% | |||
FRANCE RETAIL | 4,886 | 4,909 | +0.5% | |||
2016 sales France Retail
2016 / 2015 change | ||||||
BY BANNER | 2016 | Total growth | Organic growth | Same-store growth | ||
Hypermarkets | 4,722 | +0.4% | +1.8% | +1.6% | ||
o/w Géant Casino | 4,432 | +0.2% | +1.6% | +1.6% | ||
Leader Price | 2,526 | -2.0% | -0.7% | +0.9% | ||
Monoprix | 4,230 | +2.3% | +1.6% | -1.1% | ||
Supermarchés Casino | 3,301 | +2.7% | +3.8% | +1.9% | ||
Franprix | 1,586 | -4.6% | -3.0% | -0.5% | ||
Convenience | 2,575 | -1.0% | -1.3% | -2.3% | ||
o/w Convenience | 1,421 | -0.7% | -1.2% | -2.4% | ||
FRANCE RETAIL | 18,939 | +0.3% | +0.8% | +0.3% | ||
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
Casino - Continuing Operations - Reported Sales | Asia | Via Varejo | Nova | Casino - Continuing Operations - Restated Sales | |||
Q1 2015 | 11,911.3 | 1,049.2 | 1,666.1 | 498.3 | 8,697.7 | ||
Q2 2015 | 11,756.5 | 1,037.5 | 1,257.5 | 463.2 | 8,998.2 | ||
Q3 2015 | 10,684.2 | 918.1 | 977.6 | 371.1 | 8,417.4 | ||
Q4 2015 | 11,792.7 | 986.1 | 1,286.1 | 322.2 | 9,198.3 | ||
TOTAL | 46,144.7 | 3,991.1 | 5,187.2 | 1,654.8 | 35,311.6 | ||
Reconciliation of reported 2016 sales with restated 2016 sales
Casino - Continuing Operations - Reported Sales | Via Varejo | Nova | Casino - Continuing Operations - Restated Sales | |||
Q1 2016 | 9,706.8 | 1,089.5 | 268.6 | 8,348.6 | ||
Q2 2016 | 9,966.1 | 1,092.4 | 272.1 | 8,601.6 | ||
Q3 2016 | 10,425.1 | 1,121.9 | 262.2 | 9,041.0 | ||
Q4 2016 | 10,038.5 | 10,038.5 | ||||
TOTAL | 40,136.5 | 3,303.8 | 802.9 | 36,029.8 | ||
Exchange rates
Average exchange rates | Q4 2015 | Q4 2016 | Currency effect |
Argentina (EUR/ARS) | 11.0779 | 16.6773 | -33.6% |
Uruguay (EUR/UYP) | 32.3141 | 30.7338 | +5.1% |
Colombia (EUR/COP) (x 1000) | 3.3513 | 3.2561 | +2.9% |
Brazil (EUR/BRL) | 4.2138 | 3.5548 | +18.5% |
Store network at 31 December
FRANCE | 30 June | 30 September 2016 | 31 December 2016 | ||||
Géant Casino Hypermarkets | 130 | 129 | 129 | ||||
o/w French affiliates | 7 | 7 | 7 | ||||
International Affiliates | 13 | 12 | 12 | ||||
Supermarchés Casino | 444 | 445 | 447 | ||||
o/w French Franchised Affiliates | 64 | 69 | 83 | ||||
International Franchised Affiliates | 32 | 32 | 33 | ||||
Monoprix | 732 | 738 | 745 | ||||
o/w Franchises/Affiliates | 195 | 196 | 196 | ||||
Naturalia | 136 | 137 | 141 | ||||
Naturalia franchises | 5 | 5 | 5 | ||||
Franprix | 853 | 853 | 858 | ||||
o/w Franchises | 370 | 375 | 392 | ||||
Leader Price | 788 | 796 | 796 | ||||
o/w Franchises | 402 | 393 | 383 | ||||
Total Supermarkets and Discount | 2,817 | 2,832 | 2,846 | ||||
Convenience | 6,864 | 6,745 | 6,065 | ||||
Other businesses (Cafeterias, Drive, etc.) | 653 | 643 | 630 | ||||
Indian Ocean | 161 | 172 | 185 | ||||
TOTAL France | 10,625 | 10,521 | 9,855 | ||||
INTERNATIONAL | 30 June | 30 September 2016 | 31 December 2016 | ||||
ARGENTINA | 27 | 27 | 27 | ||||
Libertad Hypermarkets | 15 | 15 | 15 | ||||
Mini Libertad mini-supermarkets | 12 | 12 | 12 | ||||
URUGUAY | 69 | 75 | 79 | ||||
Géant Hypermarkets | 2 | 2 | 2 | ||||
Disco Supermarkets | 29 | 29 | 29 | ||||
Devoto Supermarkets | 24 | 24 | 24 | ||||
Devoto Express mini-supermarkets | 14 | 20 | 24 | ||||
BRAZIL | 1,138 | 1,119 | 1,135 | ||||
Extra Hypermarkets | 135 | 134 | 134 | ||||
Pão de Açucar Supermarkets | 184 | 184 | 185 | ||||
Extra Supermarkets | 194 | 194 | 194 | ||||
Assaí (discount) | 97 | 100 | 107 | ||||
Mini Mercado Extra mini-supermarkets | 297 | 276 | 284 | ||||
Drugstores | 155 | 155 | 155 | ||||
+ Service stations | 76 | 76 | 76 | ||||
COLOMBIA | 1,695 | 1,805 | 1,873 | ||||
Exito Hypermarkets | 86 | 85 | 86 | ||||
Exito and Carulla Supermarkets | 163 | 167 | 166 | ||||
Super Inter Supermarkets | 58 | 67 | 67 | ||||
Surtimax (discount) | 1,283 | 1,383 | 1,445 | ||||
o/w "Aliados" | 1,132 | 1,246 | 1,307 | ||||
Exito Express and Carulla Express mini-supermarkets | 104 | 102 | 109 | ||||
Other supermarkets | 1 | 1 | 0 | ||||
TOTAL International | 2,929 | 3,026 | 3,114 | ||||
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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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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Groupe Casino via GlobeNewswire
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