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BRIEF-Casino says 2017 profit guidance is cautious
March 7, 2017 / 11:00 AM / 9 months ago

BRIEF-Casino says 2017 profit guidance is cautious

March 7 (Reuters) - Casino Chairman and CEO Jean-Charles Naouri and CFO Antoine Giscard d‘Estaing tell a news conference:

* CEO says expects good comercial trend at Brazil’s retailer GPA in 2017 along Q4 2016 trend

* CFO says group EBIT growth guidance for 2017 is “cautious”

* CEO says group has not yet decided what it will do with the cash raised from Via Varejo unit sale

* CFO eyes 2017 capex of a lttle under 1 billion euros

* CEO says cash from Via Varejo consumer electronics unit sale could be used to reduce financial expenses or to accelerate Assai cash & Carry stores expansion in Brazil

* CFO says goal remains for French geant hypermarkets to break even in 2017

* CEO says group has no plans to launch cash & carry stores in France

* CEO says first four weeks of 2017 sho business trends in France close to those of Q4 2016 Source text for Eikon: Further company coverage: (Reporting By Dominique Vidalon)

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