Brazil weighs on Casino Q2 sales growth

miércoles 15 de julio de 2015 11:53 GYT
 

PARIS, July 15 (Reuters) - Retailer Casino said sales growth slowed in the second quarter, reflecting weak consumer electronics demand in its top market of Brazil, while France saw a marked improvement at its hypermarkets because of earlier price cuts.

Casino - which makes 60 percent of its sales in emerging markets and controls Brazil's top retailer, Grupo Pao de Acucar - said second-quarter group sales reached 11.757 billion euros.

Analysts had expected 11.65 billion euros in sales on average.

Stripping out acquisitions, currency effects and excluding petrol, sales eased by 0.4 percent, a marked slowdown from the 2.7 percent growth seen in the first quarter.

Same-store sales at the group's French Geant Casino hypermarkets rose 2 percent, excluding fuel and calendar effects, from a 1.5 percent fall in the first quarter. (Reporting by Dominique Vidalon)