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Casino's Q1 Sales Growth Slows As France Weakens

Published on Apr 25 2019 5:00 PM in Retail tagged: Trending Posts / France / Casino / Quarterly Reports

Casino's Q1 Sales Growth Slows As France Weakens

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

Casino, which this week strengthened its ties with e-commerce giant Amazon, reiterated on Thursday its goals to deliver 10% growth per year in trading profit for its French retail business between 2019 and 2021, and the generation of €500 million ($557 million) in free cash flow per year.

Casino, which has been selling assets to reduce its debt and which also controls Brazil's Grupo Pao de Acucar, posted first-quarter sales of €8.85 billion.

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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