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The Casino Group estimates an impact of 50 million euros from the Yellow Vest movement.

January 22, 2019

09:00

The Casino Group estimates that the Yellow Vest protests have had a €50 million impact on its sales, approximately 1% on a comparable basis in terms of its French operations.

The figure was revealed by David Lubek, CFO of the French retail group, following the announcement of the 2018 results, in which the French retail division grew 1,4% in the fourth quarter, to €4,92 billion.

The impact of the protests was mostly felt in Géant stores, with 30% being significantly affected by the lockdowns. “ There was also some effect on Monoprix and Franprix stemming from the Saturday demonstrations and the reduction in tourism in Paris at the end of December ,” he adds. In fact, at Franprix, sales stagnated on a comparable basis and fell 0,6% organically.

The Casino Group's CFO describes the fourth-quarter performance as " relatively satisfactory, culminating a successful year, with all previously implemented initiatives showing results ."

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