Supermarket retailer Casino to sell six stores to rival Leclerc By Reuters

© Reuters. FILE PHOTO: The logo of Casino shop is seen in Nice

PARIS (Reuters) – French supermarket retailer Casino (PA:), in the process of divesting assets to cut debts, has agreed to sell six of its ‘Geant’ hypermarket stores to domestic rival Leclerc for 100.5 million euros ($114 million).

“Reducing these losses will contribute to the group’s growth objective in trading profit in the France retail segment,” Casino said in a statement on Saturday.

Earlier this week, Casino reported a slight slowdown in revenue growth during the fourth-quarter as anti-government protests in France impacted its business, although Casino kept its overall financial targets.

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2019-01-19

By: Staff Writer

On: January 19, 2019

In: Hot Stock News

Tagged: Casino, Leclerc, retailer, Reuters, rival, sell, stores, Supermarket

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