Retailer Casino says group sales back to growth in Q3

Cnova NV

04/11/2021 16:54

PARIS, Nov 4 (Reuters) - Retailer Casino  CASP.PA  said on
Thursday that sales momentum  gradually improved in the third
quarter, as easing COVID-19 restrictions helped its performance
in France and sales growth in Brazil, the group's second-largest
market, remained robust.
    Casino - which has been selling assets to reduce its debt
burden and which also controls Brazil's Grupo Pao de Acucar
 PCAR3.SA  - confirmed the continuation of its disposal plan of
4.5 billion euros, which 3.1 billion have been signed or secured
to date.
    Sales totalled 7.7 billion euros  ($8.89 billion) in the
third quarter.
    On a same-store basis and excluding fuel and calendar
effects, group sales rose 1% in the third quarter, compared to a
4.1% decline in the second quarter when its city stores in
France suffered from a lack of tourists and coronavirus curfew
measures.
    
($1 = 0.8663 euros)

 (Reporting by Dominique Vidalon; Editing by Benoit Van
Overstraeten)
 ((dominique.vidalon@thomsonreuters.com; +33149495432; Reuters
Messaging: dominique.vidalon.reuters.com@reuters.net))