PARIS, July 15 (Reuters) - Retailer Casino posted forecast beating sales in the second quarter driven by 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 11.93 billion euros ($16.19 billion). Analysts expected 11.8 billion euros is sales, according to Thomson Reuters I/B/E/S.
Stripping out acquisitions, currency effects and excluding petrol, sales rose 6.5 percent on a comparable basis, roughly similar to the 6.6 percent growth seen in the first quarter.
Same-store sales at the group’s French hypermarkets rose 1.1 percent, excluding fuel and calendar effects, accelerating from 0.1 percent growth in the first quarter.
$1 = 0.7369 Euros Reporting by Dominique Vidalon; Editing by Leila Abboud