By Mauro Orru
Casino Guichard-Perrachon SA forecasted a slight decrease in Ebitda for French retail in 2021, after the French food-retail market deteriorated at a higher rate than expected in the last quarter of the year.
The French grocer said late Friday that French retail earnings before interest, taxes, depreciation, and amortization should fall 1.7% to roughly 1.28 billion euros ($1.43 billion) in 2021 compared with EUR1.30 billion in 2020.
Casino had said in November that it expected 2021 Ebitda for French retail to grow. The change in guidance comes after the French food-retail market recorded a 3.7% decline in the fourth quarter.
The company will disclose its 2021 results on Feb. 25.
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