Reuters logo
Casino Q3 sales growth slows, maintains French profit goal
October 13, 2016 / 6:06 AM / a year ago

Casino Q3 sales growth slows, maintains French profit goal

PARIS, Oct 13 (Reuters) - French retailer Casino said on Thursday group sales growth slowed in the third quarter, held back by a weaker performance in its core French market.

Stripping out acquisitions, currency effects and revenue on fuel, sales rose by 2.9 percent over the period to 10.425 billion euros ($11.68 billion), a deceleration from the 3.8 percent growth seen in the second quarter.

The group, which saw its credit rating cut to junk status by Standard & Poor’s in March, however kept its goal for a rise in in full-year profit in France to over 500 million euros.

In France, the Monoprix chain suffered from unfavourable weather conditions and a decline in tourist activity in Paris, on top of store closures, which had also a negative impact. ($1 = 0.8928 euros) (Reporting by Dominique Vidalon, Editing by Mathieu Rosemain)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below