Casino Group (ENXTPA: CO) 1Q19 Update: Soft France, Strong Latam; Early Progress Toward 2021 Targets

Executive Summary

• In 1Q19, Casino Group reported flat same-store sales in France, versus expectations of a 0.4% uplift.
• Cdiscount comparable sales fell 1.0%, but gross merchandise volumes grew at a double-digit pace as the company continued to expand its marketplace.
• Strong organic growth in Brazil drove a 6.0% rise in Latin America same-store sales.