July 13, 2016 / 5:26 AM / 2 years ago

Casino quarterly sales growth lifted by Brazil

PARIS, July 13 (Reuters) - French retailer Casino said on Wednesday its sales growth accelerated in the second quarter on an improving performance in Brazil, where its consumer electronics business returned to growth after a year of decline.

In the core French market, however, Casino’s performance suffered setbacks ranging from bad weather that hit apparel sales at Monoprix stores to strikes and floods.

Casino, which controls Brazil’s top retailer, Grupo Pao de Acucar, said second-quarter group sales reached 9.97 billion euros ($11.02 billion).

Stripping out acquisitions, currency effects and revenue on fuel, sales rose by 3.8 percent, a marked acceleration from the 1.5 percent growth seen in the first quarter.

Same-store sales at the group’s Via Varejo consumer electronics unit rose 2.6 percent, a significant improvement from a 11.8 percent decline in the first quarter.

$ = 0.9040 euros Reporting by Dominique Vidalon; Editing by Laurence Frost

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