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Casino has no plans for delisting, restructuring of Grupo Exito

Wednesday, 22 Jun 2016 12:50pm EDT

Almacenes Exito SA :Said on Tuesday, in relation to media reports, Casino said has no intention to delist or restructure its public companies in Latin America, including Grupo Exito, CBD and Via Varejo , except for ongoing project involving e-commerce activities of Cnova and Via Varejo announced May 11.

Best Buy reports Q1 gaap earnings per share of $0.69

Tuesday, 24 May 2016 07:00am EDT

Best Buy Reports Better : Qtrly enterprise revenue $8,443 million versus $8,558 million last year . Qtrly domestic segment comparable sales essentially flat . For q2 fy17, our guidance is enterprise revenue in range of $8.35 billion to $8.45 billion . For q2 fy17, our guidance is enterprise and domestic comparable sales of approximately flat . Qtrly enterprise comparable sales fell 0.1 percent . Not raising full year outlook as q1 represents less than 15% of full year earnings . Expecting an approximate $0.03 net negative impact on q2 adjusted earnings per share from lapping of periodic profit sharing benefit from services plan portfolio . Expecting an approximate $0.06 negative impact from carryover of last september's services pricing investment on q2 adjusted earnings per share . Reaffirming previously provided full year financial outlook . Expecting slight declines in revenue in first half followed by growth in back half . In digital imaging, we are now expecting an approximate $0.03 to $0.04 negative impact for q2 due to april 2016 earthquake in japan . During q1 fy17, company made decisions to cease certain operations and restructure certain teams . As such, restructuring charges of $29 million were recorded primarily relating to asset impairments and severance in q1 . In q1 fy16, restructuring charges of $186 million were recorded primarily in relation to canadian brand consolidation . Than-Expected first quarter results.

Cnova contemplates reorganization of brazilian activities within Via Varejo

Thursday, 12 May 2016 12:59am EDT

Cnova Nv : Reg-Cnova n.v. : cnova n.v. Contemplates reorganization of its brazilian activities within via varejo . It has entered into a memorandum of understanding ("mou") with via varejo s.a. . Deal regarding a possible reorganization of its brazilian subsidiary, cnova brazil, within via varejo. . Cnova would receive 97 million of its own shares currently held by via varejo and cash consideration ranging from usd 32 million to usd 49 million . Via varejo would reimburse a debt currently owed by cnova brazil to cnova equivalent to approximately usd 127 million . Parties expect to reach a definitive agreement with respect to proposed transaction by beginning of q3 .Cnova's parent casino would make an offer to purchase outstanding ordinary shares of cnova from its public shareholders.

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