(Reuters) – French retailer Casino posted a marginal rise in its quarterly net sales on Thursday, supported by growth in domestic and Latin American markets against an inflationary backdrop.
The group’s total consolidated net sales in the third quarter rose 5.4% from a year earlier on a same-store basis.
Casino confirmed its target to maintain a high level of profitability and improve full-year cash-flow generation for its French stores.
The company, which conducted the sale of its renewable energy business GreenYellow last week, plans to complete a 4.5-billion-euro ($4.53 billion) disposal plan in France by the end of next year.
As part of efforts to reduce its debt, Casino said it had launched a study to potentially sell a part of its stake in Assaí for about $500 million which could be increased, depending on market conditions.
($1 = 0.9935 euros)
(Reporting by Juliette Portala, Editing by Sherry Jacob-Phillips)
