Auchan revenue growing at a slower pace
MOSCOW. Oct 24 (Interfax) - The retailer Auchan is seeing 3-4 percentage point slower sales growth in the second half compared to the first half of 2011, but there is no major slump in consumer mood, a spokeswoman for the Russian division of the company, Maria Kurnosova, told Interfax.
July and August are traditionally quiet months for retail, she said. Trading picks up again in September-October and it is still early to talk about the trend for the entire second half, she added.
"From mid-August the rate of sales growth dropped 3-4 percentage points compared to the first half," Auchan Russia Board Member Ludovic Holinier said in an interview with the television channel RT.
"The mood among customers in the Russian retail trade sector became less positive than before from mid-August," he said. The upward trend remains on the Russian market, however, Holinier said. "We cannot say that Russia has been strongly affected by the crisis we are seeing in Western Europe since mid-August," he added.
Auchan Russian General Director Jean Pierre Germain told the press earlier that "customers are buying less." This trend has been observed for more than a year, Kurnosova said. There are more customers but they are buying less and being careful with what they spend, taking a more pragmatic approach.
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