Casino reported Q3 FY17 trading results slightly below our estimates but ahead of market consensus. Same-store sales increased 2.2% (vs Q2: +3.0%, Q1: +2.5%), largely attributable to sustained growth momentum in the Monoprix banner and market share gains in the French e-com business ‘Cdiscount’ (+18.4% lfl vs Q2: +6.7%; contributes c.5% to the group’s revenue). The French store format clocked a tepid growth of 0.6% (vs Q2: +1.9%; contributes c.52% to the group’s revenu
15 Nov 2017
Softer Q3 results, fundamentals remain strong
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Softer Q3 results, fundamentals remain strong
Casino, Guichard-Perrachon SA (CO:PAR) | 0 0 0.8% | Mkt Cap: 5,066m
- Published:
15 Nov 2017 -
Author:
Nishant Choudhary -
Pages:
3
Casino reported Q3 FY17 trading results slightly below our estimates but ahead of market consensus. Same-store sales increased 2.2% (vs Q2: +3.0%, Q1: +2.5%), largely attributable to sustained growth momentum in the Monoprix banner and market share gains in the French e-com business ‘Cdiscount’ (+18.4% lfl vs Q2: +6.7%; contributes c.5% to the group’s revenue). The French store format clocked a tepid growth of 0.6% (vs Q2: +1.9%; contributes c.52% to the group’s revenu