Shares in French retailer Casino fall after Casino warns on its…

PARIS, Jan 31 (Reuters) – Shares in Casino slumped on Monday after the food retailer cut the 2021 profit outlook for its French retail operations, blaming a higher-than-expected decline in France’s food market in the fourth quarter.

Casino’s shares were down 5.4 percent in early session trading.

Analysts at investment bank Jefferies analysts said their focus would now be on “how profit pressures are translating into cashflow and leverage pain”, with Casino reporting its annual results on Feb.25.

The group, which previously eyed a profit rise this year in France, said it now expected a decline in 2021 EBITDA (earnings before interests, taxes, depreciation and amortisation) at its French retail operations of 1.7% to around 1. If you loved this information and you would certainly like to obtain even more facts relating to คาสิโนออนไลน์ kindly go to our own web page. 28 billion euros ($1.43 billion).(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)