- 28th April 2020
- Posted by: damian.shore
- Category: SagaRetail News, Africa, Supermarkets, Retail, Tunisia
The Tunisian operations of Monoprix, a subsidiary of Casino Group that is franchised locally by the Groupe Mabrouk conglomerate, recorded a net loss of TND725,000 (USD250,000) during 2019, down from a loss of TND1.2 million (USD413,000) the previous year. Turnover rose by 7.1% year-on-year, to TND631 million (USD217 million). Groupe Mabrouk opened the first Monoprix supermarket in Tunisia in 1995 and currently operates 87 stores under this banner.
The Sagaci Research View: A weak economic environment (sluggish GDP growth and stagflation – the combination of an elevated rate of inflation with a high unemployment rate) have undermined consumer confidence in Tunisia, while the likes of Magasin Général, Carrefour, and hard discounter Aziza, in addition to a growing number of regional chains, provide stiff competition.