PARIS (Reuters) – Casino saw growth in its turnover slow down in the first quarter, penalized by a still difficult situation in its supermarkets and hypermarkets in France where price readjustment measures have been carried out.
The distribution group, which sold assets to reduce its debt, wants to sell 4.5 billion euros in assets by the end of the year.
Casino indicates that at the end of the first quarter, asset disposals reached 4.2 billion euros.
Over the quarter, its revenue reached 5.44 billion euros over the quarter, up 1% like-for-like compared to an increase of 4.4% in the fourth quarter of 2022.
Its revenues fell by 4.6% in France over the period, while they rose by 9.5% in Latin America where Casino controls the Brazilian Grupo Pao de Acucar.
Last month, the Czech businessman Daniel KÅ™etÃnský offered to take control of Casino via a capital increase of 1.1 billion euros, coming suddenly to compete with the proposed merger between the distributor and Teract.
(Report Dominique Vidalon, Matthieu Protard)
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