PARIS (Reuters)-the French retailer Casino, which faces fears of investors about your high indebtedness, reported that revenue growth slowed slightly in the fourth quarter, as protests against the Government in France impacted the sales of supermarket chain Geant. Still, the Casino, which is selling assets to reduce debt and which recorded robust sales performance in your second main market, Brazil, must meet targets of 2018 for profit in France and the group as a all, and also those of deleveraging. The protests against the French Government of "Yellow Jackets" cost the Casino about from 50 million euros in lost revenue, said the Chief Financial Officer, David Lubek. The Casino, which controls Brazil's Grupo Pão de Açúcar (GPA), said sales of the room quarter amounted to 9.9 billion euros, above the average of 9.8 billion euros expected by 10 analysts. Without considering acquisitions, divestitures, currency effects and fuel sales of the Casino have risen 5,1% year after year, a slight slowdown compared with the increase of 5,3% for the third quarter. The fourth-quarter numbers reflected a weaker performance in France, where the protests of "Yellow Jackets" resulted in blocking access to some stores, especially supermarkets which account for 20% Casino sales in France. Casino discloses fourth-quarter balance sheet and consolidated from 2018 on March 14.
DCI - 18/01/2019
News Item translated automatically
Click HERE to see original
