Casino : Q1 sales positively impacted by COVID-19 with lockdown set to continue having positive effects; we are cautious for the post-crisis period
>Q1 2020 sales (+6.4% l-f-l) slightly higher than our forecasts thanks to LatAm with a COVID-19 impact estimated at +3.4% - Casino’s consolidated sales came to € 8.3bn, -0.8% reported, 1.3% higher than our forecasts, mainly thanks to LatAm. Consolidated l-f-l growth came in at 6.4% (vs 5.1% estimated). Contrary to its GPA subsidiary in LatAm, the group did not quantify the impact of the COVID-19 crisis. We estimate, ultimately, that it boosted sales by 3.4% in Q1 (i.e...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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