A slowdown in growth in Q2
Monoprix (parent company) posted a stable Q2 2017 sales at TND133.138m (+0.8%). The growth of the cumulative H1 sales was limited to 3.9%, yoy, for an amount of TND266.345m. The gross margin increased 100 bps to 18.2%. At the end of June 2017, the staff costs increased by 15.1% to TND24.847m, bringing the staff costs/sales ratio to 9.3% (+90 bps). The total number of employees is 3,676. The number of outlets reached 89 units at the end of June 2017.
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