Casino Guichard-Perrachon 3Q Sales Hit by Latin America Slowdown
17 Outubro 2017 - 4:42AM
Dow Jones News
By Marc Bisbal Arias
Casino Guichard-Perrachon S.A. (CO.FR) said Tuesday that
third-quarter sales were up slightly on year, amid stagnating
retail sales in France and significant deceleration in Latin
America.
Total sales came in at 9.22 billion euros ($10.85 billion) for
the three months ended Sept. 30 after increasing just 1.9%, but
still beat the consensus forecast of EUR9.12 billion provided by
FactSet.
Its France retail sales stayed flat compared with the previous
year, coming in at EUR4.76 billion, while sales at its Latin
America retail unit did grow--rising 2.4% to EUR3.97 billion--but
at a much slower pace than in the preceding quarter.
The French retailer said overall organic growth for the period
was 3.4%, with sales in Latin America rising 6.1% from 13.2% in the
third quarter of 2016. In France, Monoprix was the best-performing
unit, posting a 3.7% rise in sales and 4% organic growth, the
company said.
Casino said it was also negatively affected by foreign exchange
rates during the quarter, particularly in Argentina.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
October 17, 2017 02:27 ET (06:27 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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