Shares in French retailer Casino fall after Casino warns on its French profit

Credit: REUTERS/Gonzalo Fuentes

PARIS, Jan 31 (Reuters) - Shares in Casino CASP.PA slumped on Monday after the food retailer cut the 2021 profit outlook for its French retail operations, blaming a higher-than-expected decline in France's food market in the fourth quarter.

Casino's shares were down 5.4 percent in early session trading.

Analysts at investment bank Jefferies analysts said their focus would now be on "how profit pressures are translating into cashflow and leverage pain", with Casino reporting its annual results on Feb. 25.

The group, which previously eyed a profit rise this year in France, said it now expected a decline in 2021 EBITDA (earnings before interests, taxes, depreciation and amortisation) at its French retail operations of 1.7% to around 1.28 billion euros ($1.43 billion) .

(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)

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