Casino Guichard: Q3 2015 preview

BUY, Fair Value EUR69 (+28%)
News published on October Wednesday 7, 2015
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Casino will release its Q3 2015 trading update on October 15th. As far as France is concerned (+1.2%e LFL excl. fuel and calendar effects vs +0.1% in Q2), this statement should be strong. Latam Retail should prove fairly resilient (+2.5% LFL e in Q3 vs +2.4% in Q2) while Latam electronics should unsurprisingly remain a nightmare (-25% LFL e vs -23.6% in Q2). So far, no great shakes. Asia, penalized by the bomb attacks in Thaïland, is where it gets tricky. Indeed, the LFL should come in at -3.5% which is a sequential deterioration vs Q2 (-2.9%).

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