Supermarket retailer Casino to sell six stores to rival
Leclerc
Send a link to a friend
 [January 19, 2019]
PARIS (Reuters) - French supermarket
retailer Casino <CASP.PA>, in the process of divesting assets to cut
debts, has agreed to sell six of its 'Geant' hypermarket stores to
domestic rival Leclerc for 100.5 million euros ($114 million).
"Reducing these losses will contribute to the group's growth objective
in trading profit in the France retail segment," Casino said in a
statement on Saturday.
[to top of second column] |
The logo of Casino shop is seen in Nice, France, January 15, 2019.
REUTERS/Eric Gaillard/File Photo
Earlier this week, Casino reported a slight slowdown in revenue growth during
the fourth-quarter as anti-government protests in France impacted its business,
although Casino kept its overall financial targets.
(Reporting by Sudip Kar-Gupta; Editing by Janet Lawrence)
[© 2019 Thomson Reuters. All rights
reserved.] Copyright 2019 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content. |
