Casino : Warning on 2019 results due to the impact of the strikes in France. 2019 EPS revised down 10%. Target price cut to € 42 from € 44. Neutral
>Q4 2019 sales: in line l-f-l including in France - Excluding the deconsolidation of Leader Price (placed under IFRS 5 as sales negotiations are ongoing with Aldi), which we did not expect at this stage, Q4 2019 sales were in line with our expectations.Q4 consolidated sales came to € 9,228m, down -1.4% on a reported basis but +3.6% organic and +1.6% l-f-l. (vs +1.4%e l-f-l excluding Leader Price)Sales France: € 4,164m, -4.3% reported, -1.2% organic and stab...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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