Q1 2023 Casino Guichard Perrachon SA Corporate Sales Call Transcript
Welcome to the First Quarter 2023 Sales Conference Call. I'll now hand over to Mr. David Lubek, Chief Financial Officer of Casino Group.
Good morning, everyone. Thank you for attending our quarterly sales conference call. Before going into the details of our release, a few words of introduction regarding our Q1 performance. In France, food retail sales trends are close to flat in like-for-like in Q1, like they were in Q4 and with the same differentiation between banners. The banners that performed well in Q4 accelerated in Q1, Monoprix, Franprix and Casino Proximity, had a combined like-for-like of plus 4.6% compared to plus 2.8% in Q4. The expansion plan in Proximity also showed good progress with around 200 stores opened, mainly in their franchise, which confirms the relevance of our strategy on this front.
On the other hand, Casino Hyper and Supermarkets witnessed once again a sharp decrease in their sales, are respectively, minus 12.4% and minus 7.8%. The management of these banners has
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