6.9 C
Alba Iulia
Monday, September 28, 2020

Casino Guichard Perrachon: Sales jump while blocks block food purchases

Must Read

CNBC: Things to Know About Reverse Mortgages

Reverse mortgages can be a good opportunity for someone in retirement or close to retirement, but the product category...

QC Marathon concludes the virtual race

EAST MOLINE, Illinois (KWQC) - For Joe Moreno, founder of the TBK Bank Quad Cities Marathon, this year's race...

Recent Texas virus cases reported totaling 1,292, state adds 37 deaths – NBC 5 Dallas-Fort Worth

There were 1,292 coronavirus cases reported recently in Texas on Sunday and 37 additional deaths due to COVID-19, the...

The retailer, which also controls Brazilian Grupo Pao de Acucar, said net revenues were € 7.85 billion (£ 7.12 billion) over the period, down 7.5% on a reported basis , as currency swings have taken their toll and fuel sales have declined.

But sales increased 10.4% in April-June, excluding these factors and on the same store base, thanks to strong demand in France and Brazil during the coronavirus blockades, increasing by 6.4% in the first quarter.

The company’s shares declined 11% by 0723 GMT.

Casino chief of finance David Lubek said consumption trends were normalizing after restaurant restrictions eased in France in June, but said the group is still benefiting from the change in purchasing patterns.

“There has been a substantial shift from eating out to eating at home,” Lubek told reporters. “Things are returning to normal but there are still much taller baskets.”

Online purchases remained 50% higher in terms of daily orders than before the coronavirus blocks, the group said.

The group reported earnings before interest, taxes, depreciation and amortization (EBITDA) of 1.07 billion euros in the first six months of the year, down 5.1% as reported and up 4% at constant exchange rates .

He said that measures to protect employees from the virus, including the installation of plexiglass barriers at checkout counters, and that additional personnel costs were added.

Casino convenience stores in cities have benefited from the fact that buyers have turned to local suppliers and the group, which also owns the Monoprix and Franprix brands, said it will continue to open more. He also reported on his consumer electronics business CDiscount

higher revenues.

Casino has long been in the spotlight for its high debt levels and has so far sold 2.8 billion euros in assets, including several hundred Leader Price stores to German rival Aldi. He said he was moving forward with further disposals as part of his plan to lose 4.5 billion euros in non-core assets.

(Reporting by Sarah White. Editing by Carmel Crimmins and Jane Merriman)

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

CNBC: Things to Know About Reverse Mortgages

Reverse mortgages can be a good opportunity for someone in retirement or close to retirement, but the product category...

QC Marathon concludes the virtual race

EAST MOLINE, Illinois (KWQC) - For Joe Moreno, founder of the TBK Bank Quad Cities Marathon, this year's race had its challenges, but it...

Recent Texas virus cases reported totaling 1,292, state adds 37 deaths – NBC 5 Dallas-Fort Worth

There were 1,292 coronavirus cases reported recently in Texas on Sunday and 37 additional deaths due to COVID-19, the disease caused by the virus,...

Little Rock teachers will not show up to classes in person

Andrew Demillo, Associated Press ...

More Articles Like This