Casino Expects 2013 Growth in Profit and Sales Amid Expansion

Casino Guichard-Perrachon SA said it aims to post growth in sales and profit in 2013 as the company cuts prices in French hypermarkets and expands internationally.

The grocer aims for “strong growth in reported sales” while advancing trading profit, the St. Etienne, France-based company said in a statement on its website today.

“Casino will pursue its strategy of back-to-basics in France and organic growth internationally, while working to maintain its financial structure,” Jean-Charles Naouri, the company’s chief executive officer, said in the statement.

The retailer today posted 2012 sales growth of 22 percent and said trading profit rose 29 percent to 2 billion euros. Analysts had estimated profit on that measure of 1.94 billion euros.

To contact the reporter on this story: Celeste Perri in Amsterdam at cperri@bloomberg.net

To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net

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