French retail group Casino Group reported net sales of €2.00bn ($2.27m) in the first quarter (Q1) of financial year 2025 (FY25), reflecting a drop of 1.2% on a comparable basis and 5.0% in reported figures.
This downturn includes the impact of a 1.1 percentage point calendar effect due to the leap year in 2024 and the shift of Easter into April, as well as approximately a 2.7 percentage point effect from its convenience store network optimisation.
The group’s convenience brands, including Monoprix, Naturalia, Franprix, and Casino labels, experienced a 0.7% dip in net sales on a like-for-like (LFL) basis over the quarter.
Specifically, Monoprix saw its net sales shrink by 0.6% while Franprix’s sales fell by 1.7%, echoing the trend from the previous quarter.
Other Casino brand outlets such as Vival, Spar, and Petit Casino also reported a 1.9% decline on a LFL basis.
Casino Group’s gross merchandise volume reached €2.90bn in Q1 FY25, marking a 3.6% reduction compared to the same period in the previous year.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) decreased by €6m to €100m over the quarter; however, excluding disynergies, adjusted EBITDA would have seen an increase of €6m.
Throughout Q1 2025, Casino Group persisted in streamlining its store network, closing 466 stores, 96% of which were managed by franchisees or through business leases.
Additionally, the group opened 31 new outlets, with franchisees or business leases operating 90% of them.
In a related news, Monoprix aims to franchise 27 Monop’ stores in Paris and the Île-de-France region to a joint venture with the Zouari family.
This initiative aligns with Monoprix’s strategy to invigorate sales and accelerate expansion through collaboration with established partners.
The plan includes renovating these stores to align with the latest Monop’ concept standards while preserving existing jobs.
Completion of this transaction is pending consultations with employee representative bodies and requisite legal procedures, along with approval from the French Competition Authority.
Casino Group chief executive officer and Monoprix chair Philippe Palazzi said: “This partnership is fully in line with our strategy of revitalising our store network and developing the franchise model.
“With the support of a strategic, longstanding partner like the Zouari family, we will be able to modernise our network faster and strengthen our appeal in city centres.”
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