Cnova's Q1 sales fall

Date : 26 April 2016

Casino's e-commerce business, Cnova, has reported a 6.6% fall in net sales for Q1 (at constant currency) to EUR742m.

Focus is on largest markets

Net sales were up 15.3% at Cdiscount France to EUR465m, but fell at Cnova Brazil to EUR274m. In March, Cnova completed the disposal of Cdiscount Vietnam to Big C Vietnam, and of Cdiscount Thailand to the Thai conglomerate TCC Group. Cnova's focus is now on its largest markets which offer the greatest potential.

Internal review in Brazil is ongoing

An internal review is underway at Cnova Brazil. In its first quarter release, Cnova pointed out that this could affect 2015 and prior accounting periods, however it was too early to determine the impact or to know whether the first quarter of 2016 would also be affected.  

E-commerce is a priority this year

Exploiting the multi-channel opportunity is one of Casino's group priorities for 2016. Download our insight presentation here to find out more.