Arab Today, arab today casino supermarkets reports setback from french price war
Last Updated : GMT 21:57:33
Arab Today, arab today
Arab Today, arab today

Casino supermarkets reports setback from French price war

Arab Today, arab today

Arab Today, arab today Casino supermarkets reports setback from French price war

Casino on a building housing a supermarket
Paris - AFP

French supermarket group Casino blamed unfavourable exchange rates and a price war in its home market for pulling down first-half profits on Tuesday, but kept its full-year forecasts.
Net profit fell by 8.9 percent from the equivalent figure last year to 176 million euros ($236 million) but at constant exchange rates, it rose by 5.8 percent.
Sales for the second quarter fell by 1.3 percent to 11.93 billion euros, although they rose by 6.5 percent if currency effects were stripped out.
Many European companies have reported that the high value of the euro until recently, and a fall of emerging market currencies, have undermined their headline results.
For the first six months, Casino's sales advanced 0.4 percent to 24.24 billion euros, and by 6.0 percent without currency factors.
But the current operating profit for the six months fell back 9.2 percent to 880 million euros. Again highlighting currency factors, if these were stripped out, the figure jumped 13.3 percent.
The operating margin, a particularly important measure of profitability for retailers, was steady at 3.8 percent.
This came against the backdrop of a price war among supermarkets in France, under strong attack from the rise of discount retailers such as Aldi and Lidl.
Even Casino's own discount brand, Leader Price, was heavily affected by price cuts in a bid to win customers.
International operating profits surged 21.6 percent excluding currency factors -- which chief executive Jean-Charles Naouri described as an "excellent" performance -- helped by a strong performance in Brazil.
The group said it was confident of returning to sales growth in France this year, along with improving growth in international operations, and boosting operating profit.
Casino shares dipped 0.22 percent to 94.02 euros in early afternoon trading. The overall CAC 40 French index was up 0.85 percent at 4,381.61 points.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today casino supermarkets reports setback from french price war Arab Today, arab today casino supermarkets reports setback from french price war

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today casino supermarkets reports setback from french price war Arab Today, arab today casino supermarkets reports setback from french price war

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday