Groupe Casino (EPA: CO) 4Q and FY16 Trading Update: LatAm Business Drives Sales Growth

Executive Summary

• Groupe Casino reported FY16 revenues of €36,030 million, up 2.0% from the previous year and up 5.7% on an organic basis. Comps grew by 3.8%.
• In FY16, French sales grew by 0.3% (+0.8% organic growth) and French comps grew by 0.3%. In Latin America, sales grew 3.6% (+11.4% organic growth) and comps grew 6.6%.
• E-commerce sales grew 7.9% (+8.8% organic growth) and comps grew 9.5%. Casino estimates the unaudited FY16 trading profit in France amounts to slightly over €500 million.