Casino: Q1 sales up 7.9% organically at E8.3m
(CercleFinance.com) - French food retailer Casino has reported Q1 sales of 8.
3 billion euros, up 7.9% organically and 6.4% on a comparable basis, including the impact on food consumption that the Covid-19 epidemic has had since mid-March.
In France, sales over the period reached 3,885 million euros, up 5.8% LFL. Sales in Latin America (GPA Food and Éxito) were up 8.5% on a like-for-like basis and 14.0% organically over the quarter.
EBITDA for France and Cdiscount together increased by 67 million euros in Q1 2020 compared to Q1 2019, particularly due to increased sales since mid-March. Over 12 months, EBITDA of this scope was 1,602 million euros (948 million euros net of rents paid).
Given the current situation, it has decided that it will no longer provide targets for 2020-2021.
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