October 13, 2016 / 6:01 AM / 2 years ago

Casino Q3 sales growth slows, maintains French profit goal

PARIS, Oct 13 (Reuters) - French retailer Casino said on Thursday group sales growth slowed in the third quarter, held back by a weaker performance in its core French market.

Stripping out acquisitions, currency effects and revenue on fuel, sales rose by 2.9 percent over the period to 10.425 billion euros ($11.68 billion), a deceleration from the 3.8 percent growth seen in the second quarter.

The group, which saw its credit rating cut to junk status by Standard & Poor’s in March, however kept its goal for a rise in in full-year profit in France to over 500 million euros.

In France, the Monoprix chain suffered from unfavourable weather conditions and a decline in tourist activity in Paris, on top of store closures, which had also a negative impact. ($1 = 0.8928 euros) (Reporting by Dominique Vidalon, Editing by Mathieu Rosemain)

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