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 firstname.lastname@example.org
(END) Dow Jones Newswires
October 17, 2017 02:27 ET (06:27 GMT)