Casino : Q1 2019 sales: broadly in line with our expectations, but short of the consensus for France
>Q1 2019 sales: complicated in France, good in Latam - Casino’s consolidated Q1 2019 sales came in at € 8.853bn, -0.5% in reported terms, slightly above of our forecast of € 8.784bn, because of Latam. L-f-l came in at 3% (vs +2.4%e) and organic growth at 4.3% (vs +3.8% estimated). As expected, Brazil (+7.1% l-f-l) played a major role in the momentum for Q1, bearing in mind that France, as anticipated, saw a sequential slowdown (l-f-l at 0% vs 0.5% in Q4 2018 and +1.3%...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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