Casino has reported organic growth of +11% internationally for the first quarter of 2014. We look at its performance in Latin American markets.
Brazil powers regional growth
Latin America posted organic growth of +12.3% (ex. fuel and calendar effect), driven by good performance of GPA and dynamic expansion in Brazil. A change in the average exchange rates had a negative effect of -18.4%, caused mainly by the sharp depreciation of the real against the euro since the second half. Same store sales in Latin America were up 7.9%. There was an additional impact from the later Easter, and in Colombia Éxito was affected by the shifting of its anniversary marketing campaign to Q2, from Q1 last year. Same store sales in Brazil, excluding calendar effect, at GPA posted growth of 8.7%, boosted mainly by strong growth at Assaí cash & carry stores. In the first quarter, 11 stores opened, comprised of six Minimercado, three Extra Hyper and two Assaí.
Éxito benefits from expansion
Éxito reported positive organic growth, excluding fuel and calendar effect. The network of affiliated stores grew to 379, six stores were opened and the retailer acquired a shopping mall. Éxito is set to publish Q1 figures on 28 April.
For the wider group performance
To find out how Casino fared in other international markets, and in France in Q1, click here.
For more on Latin America
Download our latest insight presentation: Latin America In Focus: Maximising the opportunity.