Casino Group Reports In-Line 3Q Sales With Deleverage Plan Ahead of Schedule; Shares Fairly Valued
Casino Group reported a third-quarter sales update with group sales up 3.3% on a same-store basis (5.4% organic growth), in line with our expectations. While we maintain our no-moat rating, we intend to update our model for a higher-than-expected adverse currency effect from Latin America (Brazil), but we do not anticipate a material impact to our EUR 32 fair value estimate. The two-year EUR 1.5 billion deleveraging plan that the company announced in June is progressing faster than guided, and m...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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