Retailer Casino keeps goals as sales return to growth in Q1

div classBodysc17zpet90 cdBBJodivpPARIS Reuters – French retailer Casino said group sales returned to growth in the first quarter, driven by improving sales in its core French market and a robust performance in Brazil, the groups secondlargest market.p

Casino, which has been selling assets to reduce its debt, confirmed its goal of completing its 4.5 billion euros 4.9 billion disposal plan by the end of 2023. Disposals to date amount to 3.3 billion euros.pdivdivdiv classBodysc17zpet90 cdBBJodiv

It added it was confident of its ability to recover sales growth momentum this year in France, maintain a high level of profitability and improve cash flow generation.p

Casino, which also controls Brazils Grupo Pao de Acucar, posted firstquarter sales of 7.483 billion euros.p

On a samestore basis and excluding acquisitions, currency effects and revenue on fuel, sales rose 3.2 compared to a 0.4 decline in the fourth quarter of 2021.p

1 0.9227 eurosp

pp Reporting by Dominique Vidalon Editing by Sudip KarGuptap

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