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.
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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.
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(END) Dow Jones Newswires
October 17, 2017 02:27 ET (06:27 GMT)