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Retailer Casino Confirms Paris HQ Was Visited By European Commission Agents

Published on May 22 2019 8:59 AM in Retail tagged: France / Intermarché / Sales / Groupe Casino

Retailer Casino Confirms Paris HQ Was Visited By European Commission Agents

French retailer Casino said on Wednesday that European Commission agents visited its Paris headquarters on May 21, confirming earlier media reports.

The spokeswoman, however, did not detail the reason for the visit.

She was speaking after Le Figaro newspaper reported that European Commission agents raided the headquarters of Casino and French peer Intermarché in connection with suspicion of antitrust practices tied to a 2014 purchasing alliance that has since been abandoned.

Intermarché could not be immediately reached for comment.

Sales Performance

Last month, Casino said revenue growth slowed in the first-quarter, as weaker sales in its core French market overshadowed a more dynamic performance in Brazil.

The retailer aims to deliver 10% growth per year in trading profit for its French retail business between 2019 and 2021, and the generation of €500 million in free cash flow per year.

Excluding acquisitions, currency effects and revenue on fuel, sales rose by 4.3% compared to 5.1% growth in the fourth quarter of 2018.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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