Casino Guichard (EU:CO)
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3 Mois : De Mar 2019 à Juin 2019
By Anthony Shevlin
Casino Guichard-Perrachon SA (CO.FR) said Friday that it signed unilateral purchase commitments for the disposal of four loss-making stores.
The French retailer said the commitments represent a total of 24 million euros ($27.04 million) and the disposals are expected to be completed in the third quarter.
The disposals include the sale of two Leader Price stores to German retailer Lidl and two separate Geant hypermarkets to a Leclerc member and "an experienced professional in the retail sector," which plans to operate it under the Systeme U brand. The real estate of the latter will be sold to a private investor, Casino said.
In 2018 these stores generated sales of EUR42 million, excluding value-added tax, and a trading profit loss of EUR1.5 million, Casino said.
Write to Anthony Shevlin at email@example.com; @anthony_shevlin
(END) Dow Jones Newswires
April 12, 2019 02:36 ET (06:36 GMT)
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