(CercleFinance.com) – The e-commerce group Cnova, parent company of Cdiscount and subsidiary of Casino, reported disappointing turnover on Tuesday, the group having suffered both from a market judged ‘ uncertain’ and an environment described as ‘difficult’.
The e-commerce specialist reported this morning in a press release a business volume (GMV) of 915 million euros for the first quarter, a decrease of 9% year-on-year. .
Compared to the first quarter of 2019, that is to say before the pandemic, 2021, this activity indicator only shows an increase of 1%.
As a result, Cnova saw its turnover fall by more than 13% to 448.9 million euros over the first three months of the year, i.e. a drop of 14.8% compared to the corresponding period of 2019. .
In a reaction note, analysts at Invest Securities point to a trend towards an acceleration of the ‘normalization phase’ of growth following the good performance recorded during the pandemic.
In the wake of this publication, Cnova shares fell 1.6% on Tuesday morning on the Paris Stock Exchange.
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