Groupe casino - 10 %.....
Shares of Casino (
CO.EQ) plummet 8% after the supermarket chain on Friday cut its 2021 guidance for its French retail business
** The company, which had previously expected growth in its French retail operating profit, now expects a "slight decrease" (
news)
, as it says France's food retail sector had declined by a bigger margin than expected in Q4 2021
** Casino's newly guided about 10% cut to 2021 French consensus EBITDA "provides an early peek into what we expect to be a very tough 2022," Jefferies analysts wrote in a note
** "The combination of sizeable mkt share losses of recent years and a highly leveraged B/S puts CO (Casino) in a weak relative position when pushing back on upcoming supplier demands for MSD+ price rises," they added
** Shares in its rival Carrefour (
CA.EQ) also fall around 3%