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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Companhia Brasileira de Distribuição    PCAR4   BRPCARACNPR0

COMPANHIA BRASILEIRA DE DISTRIBUIÇÃO

(PCAR4)
  Report  
End-of-day quote. End-of-day quote Bolsa de valores de Sao Paulo - 11/11
81.16 BRL   +0.09%
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Debt-laden Casino sees third quarter sales slow but keeps 2019 targets

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10/17/2019 | 01:51pm EST

PARIS (Reuters) - French retailer Casino, which is battling investor concerns over its debts, said sales growth slowed in the third quarter, reflecting a weaker performance in France.

Casino - which has been selling assets to reduce its debt and which also controls Brazil's Grupo Pao de Acucar - nevertheless kept its 2019 financial goals for France, namely a 10% rise in current operating profit for the retail arm.

Finance chief David Lubek said Casino was focussed on delivering its strategy plan in France where it is increasingly focussed on e-commerce, food and convenience stores.

"We have a clear strategy in place and are quite confident looking forward," Lubek said, adding that deleveraging the group remained a key focus.

Sales reached 9.05 billion euros (7.8 billion pounds) in the third quarter, broadly in line with analyst estimates.

On a same-store basis and excluding fuel and calendar effects, group sales rose 1.5% in the third quarter, compared to 2.3% growth in the second quarter.

In France, sales were hit by the disposal or closure of loss-making stores. On a same-store basis however, the overall performance was still a lacklustre 0.2% sales rise.

Casino, along with domestic peers such as Carrefour and Auchan [AUCH.UL], faces intense price competition in its home market as well as challenges from online players such as Amazon, which has made inroads in the sector.

In May, Casino Chairman and Chief Executive Jean-Charles Naouri placed Casino's parent companies, including Rallye, under protection from creditors. Talks with bankers started in September.

Naouri has been hunting for ways to ease the company's debts - and those of parent company Rallye - in part via asset sales.

Last month, Casino said it was in talks to sell its French discount store chain Leader Price to German low-cost rival Aldi

This came after Casino announced in August a new 2 billion euros asset disposal programme, in addition to the 2.5 billion initially sought to reduce its debt burden.

In September, Czech businessman Daniel Kretinsky and Slovak partner Patrik Tkac bought a 4.63% stake in Casino in a show of support for Naouri.

Casino shares have gained 19.7% since the start of the year, helped by a string of positive news ranging from asset sales to Kretinsky's support. This followed a 28% stock fall last year.

(Reporting by Dominique Vidalon; Editing by GV De Clercq)

By Dominique Vidalon

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM -0.80% 1771.65 Delayed Quote.18.90%
CARREFOUR 0.13% 15.38 Real-time Quote.3.02%
CASINO GUICHARD-PERRACHON -0.19% 48 Real-time Quote.32.33%
COMPANHIA BRASILEIRA DE DISTRIBUIÇÃO 0.09% 81.16 End-of-day quote.-0.01%
FONCIÈRE EURIS 3.77% 16.5 Real-time Quote.-45.00%
HUNTING PLC 1.19% 443 Delayed Quote.-8.79%
RALLYE -1.66% 7.71 Real-time Quote.-12.99%
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Financials (BRL)
Sales 2019 55 281 M
EBIT 2019 2 171 M
Net income 2019 1 120 M
Debt 2019 4 416 M
Yield 2019 1,64%
P/E ratio 2019 19,6x
P/E ratio 2020 15,6x
EV / Sales2019 0,48x
EV / Sales2020 0,41x
Capitalization 22 334 M
Chart COMPANHIA BRASILEIRA DE DISTRIBUIÇÃO
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Companhia Brasileira de Distribuição Technical Analysis Chart | MarketScreener
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Technical analysis trends COMPANHIA BRASILEIRA DE DI
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Average target price 115,68  BRL
Last Close Price 83,74  BRL
Spread / Highest target 74,5%
Spread / Average Target 38,1%
Spread / Lowest Target 23,0%
EPS Revisions
Managers
NameTitle
Peter Paul Lourenço Estermann Chief Executive Officer
Jean-Charles Henri Naouri Chairman
Christophe José Hidalgo Chief Financial & Corporate Services Officer
Arnaud D. C. W. J. Strasser Vice Chairman
Eleazar de Carvalho Filho Independent Director
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