PARIS (Reuters) - Supermarket group Casino, battling investor concerns over its high debt and ability to generate cash, said on Tuesday that retail sales in its core French market improved in April after a flat showing in the first quarter.
Overall, same-store sales rose 0.9 percent on a year-on-year basis in France in April, according to slides released to coincide with Casino’s annual shareholder meeting.
Revenues improved at its Geant hypermarket stores, Monoprix and Franprix convenience stores, outpacing the LeaderPrice discount stores where sales were still weak.
Last month, Casino reported slower sales growth in most of its store formats in France during the first quarter, including a mere 0.3 percent growth at the Geant hypermarkets.
Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta