Brazil, Thailand woes weigh on Casino Q3 sales

jueves 15 de octubre de 2015 01:41 GYT
 

PARIS Oct 15 (Reuters) - French retailer Casino said on Thursday that the decline in group sales accelerated slightly in the third quarter, hit by weak consumer electronics demand in its top market of Brazil and the August bombings in Thailand.

France saw a marked improvement across all store formats, however, notably at its Geant Casino hypermarkets and LeaderPrice discount stores thanks to previous price cuts.

Casino, which makes 60 percent of its sales in emerging markets and controls top Brazilian retailer Grupo Pao de Acucar , said third-quarter group sales reached 10.684 billion euros ($12.27 billion).

Analysts had on average expected sales of 10.56 billion euros.

Stripping out acquisitions, currency effects and excluding petrol, sales slipped 0.5 percent, more than the 0.4 percent decline in the second quarter.

Consumer electronics sales in Brazil slumped 24.7 percent in the quarter, having fallen 23.6 percent in the second quarter. ($1 = 0.8708 euros) (Reporting by Dominique Vidalon; Editing by James Regan)