Casino sales rise with lockdown but there is a cost hangover

Source: Mintel 31-07-2020

French retail group Casino has reported disappointing quarterly results in spite of rising sales. Comparable sales were up by 10.4% in Q2 and online has grown by three digits. The group’s non-food ecommerce division Cdiscount also saw a strong increase in turnover. In Latin America, organic growth was 17.2%, and French stores sales have risen 6.0%.

However, the measures carried out as a result of the COVID-19 pandemic caused significant additional costs, with personnel costs rising sharply. In addition, staff members received a corona premium, with operating profit decreasing by 15.3% in the first half of 2020.