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Casino Group Q2 Net Sales Down 3.0%

French retailer Casino Group (0HB1.L,CGUIY.PK) reported that net sales for the second-quarter of 2018 were 8.9 billion euros, down 3.0% overall compared with the second-quarter 2017, including a -7.6% unfavourable currency effect. Sales increased 5.2% in organic terms and 3.2% on a same-store basis, year-over-year. The scope and fuel effects came to +0.3% and +0.4%, respectively, and the calendar effect was -1.2%.

Total sales in France were 4.759 billion euros in the second-quarter of 2018, up +1.3% on an organic basis and +1.8% on a same-store basis year-over-year, of which +2.5% in food, led by growth in customer traffic and in average basket.

Cdiscount's gross merchandise volume or GMV totalled 760 million euros in the second quarter, representing growth of 14.3%), of which +9.0% was organic. Net sales expanded by 14.0%, of which 6.4% in organic growth. Traffic, up 4.5%, was led by growth in the mobile channel, which accounted for 64.0% of all visits.

Sales at the Group's businesses in Latin America (Éxito Group and GPA Food) increased 9.7% year-over-year on an organic basis and +4.4% on a same-store basis in the second-quarter 2018, a sharp improvement on the first-quarter 2018. Consolidated net sales were impacted by an unfavourable currency effect of -17.1%.

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