Casino’s Q3 performance was a mixed bag; sales and profitability were healthy overall but French same-store sales were flattish. Low tourist numbers in July were followed by positive momentum in the subsequent months. We see more chinks in the armour, however, and Q4 is likely to be do or die in terms of both the operational performance and gross debt reduction. We plan to trim our estimates but will maintain our positive stance given the cheap valuation.
30 Oct 2020
Lack-lustre performance in Q3
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Lack-lustre performance in Q3
Casino, Guichard-Perrachon SA (CO:PAR) | 0 0 0.8% | Mkt Cap: 5,066m
- Published:
30 Oct 2020 -
Author:
Nishant Choudhary -
Pages:
3
Casino’s Q3 performance was a mixed bag; sales and profitability were healthy overall but French same-store sales were flattish. Low tourist numbers in July were followed by positive momentum in the subsequent months. We see more chinks in the armour, however, and Q4 is likely to be do or die in terms of both the operational performance and gross debt reduction. We plan to trim our estimates but will maintain our positive stance given the cheap valuation.