PARIS, Feb 28 (Reuters) – French retailer Casino said group sales slowed in the fourth quarter of 2022, as a robust performance in Latin America was offset by weakness in the domestic market, where same-store sales at its Geant hypermarkets fell 6.2%.
The company, which has been facing concerns over high debts and low cash flow, reports its full year earnings on March 10.
Casino, betmatik which also controls Brazil’s Grupo Pao de Acucar , said group sales for the fourth quarter reached 9.155 billion euros ($9.7 billion), a 4.4% rise on a same store basis but a deceleration from 5.4% growth in the third quarter.
In France alone, sales rose just 0.1% on a same store basis after rising 3.9% in the third quarter.
($1 = 0.9447 euros) (Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)