Hot news

Dublinbet

Dublinbet

DublinBet.com is an innovative and classy casino and card room. It offers classic online casino game favourites plus some of the best live dealer games on the net for January 2012.

Through the latest webcasting technology you can interact with dealers from the privacy of your home (or office!). The sounds and dealer action is live from the Fitzwilliam Card Club and Casino, in Dublin Ireland. DublinBet's Distance Gaming® is a 'must try even if you're not fussed for live dealer games - try the unique early payout

+ More info...

888

888

Do you find it hard to get to a live casino to play poker? Then simply come to 888poker, the best poker online room in Australia and experience the same thing with no hassle.888 Casino is one of the most famous casinos in cyberspace, thanks to some of the most eye-catching promotions in the industry and an ongoing commitment to innovation. Owned and operated by a subsidiary of 888 Holdings plc, which is listed on the London Stock Exchange, 888 Casino was launched in 1997 and more than 25 million people have played here since.

+ More info...

365 Casino

365 Casino

Enjoy a huge selection of casino games at 365 Casino with monthly bonuses and weekly promotions, Play Blackjack, Roulette, Baccarat, Slots, and Video Poker and win big at 365 casino. 24hrs a day, 365 days a year Safe & secure with excellent Customer Service.

+ More info...

Elegance Casino

Smart Live Casino

The unique thing about Smart Live Casino is its live casino games. It offers live baccarat, live roulette and live blackjack where the player sees the dealer and the action unfold infront of his own eyes. They have a fully array of games as well as sports betting. The site also comes in a variety of languages.

+ More info...

French Retailer Casino Plunges as Strikes Hit Sales

E-mail Print PDF

Text size

French Retailer Casino Plunges as Strikes Hit Sales
A woman walks in front of a Casino supermarket in the city of Caen, France. Getty Images

Casino Guichard-Perrachon’s stock plummeted on Friday after the French food retailer slashed its profit forecast amid transport strikes.

Casino said it expected trading profit to rise 5% in 2019, lower than its previous forecast of 10% growth. Chief Financial Officer David Lubek said the nationwide strikes had “heavily affected” the retail market in the fourth quarter.

French supermarkets have struggled amid price wars in recent years and due to nationwide strikes at the end of 2019. Casino is closing loss-making stores and selling assets to cut debt.

Separately, Casino’s parent company Rallye failed to secure backing for a plan to repay €1.6 billion of debt over ten years.

Rallye bondholders voted against the plan to spread the repayments out over a decade at a meeting in Paris on Thursday.

The supermarket company and its holding companies, including Casino, were put under creditors’ protection by a Paris court in May to protect the company from collapse and allow time for it to trim the debt pile. The safeguarding proceedings cover Rallye, its subsidiaries Cobivia and HMB, and their parent companies Foncière Euris, Finatis and Euris.

In December, the quartet finalized their draft repayment plan, which also includes €1.2 billion euros of bank loans secured against Casino shares, which would be redeemed by 2024.

Mounting fears over Rallye’s financial health, coupled with the weaker-than-expected results, sent Casino’s shares 13% lower before recovering to trade 8.3% down, while Rallye’s share also dropped 3.1%.

Looking ahead. A Paris court will ultimately decide on the debt repayment plan by the end of March, but the bondholders’ discontent has added to the negative sentiment around Casino’s stock, of which Rallye owns 57%. The retailer hopes longer opening hours and self-checkout machines will boost sales but Rallye’s immediate future and the strikes are more pressing issues for shareholders.

Read more https://www.barrons.com/articles/french-retailer-casino-plunges-as-strikes-hit-sales-51579263314?mod=RTA

You are here