Casino Guichard-Perrachon's Third-Quarter Sales Disappointing in France but Strong in Latin America
No-moat rated Casino reported mixed third-quarter sales, with France (46% of sales) disappointing but offset by strong growth in Latin America (remaining 54% of sales) driven by high inflation. We are not making any changes to our earnings forecasts or our EUR 47 fair value estimate. The no-moat and stable moat trend ratings are also unchanged.French sales disappointed as like-for-like sales growth was negative 0.6%, well below the recent trend but this was compared with a strong third quarter ...
Casino Guichard-Perrachon is a food retailer based in France. Co. operates hypermarkets, supermarkets, discount stores, convenience stores and cafeterias. Co.'s stores are discount stores selling groceries and consumer goods, and providing services like financial and insurance services, real estate, and restaurants. Co. operates hypermarkets under the brand Geant Casino; urban and rural supermarkets under the brand Casino Supermarches; city-centre supermarkets under the brand Monoprix; convenience/national superettes under the brands Petit Casino, Vival and Spar; covenience-paris area stores under the brand Marche Franprix; and discount stores under the brand Leader Price.
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