French retailers blame pension strikes for declining holiday sales

Annabelle Timsit
French retailers blame pension strikes for declining holiday sales

Shares in two of France’s biggest retailers dipped today (Jan. 17) after the companies said sales were hurt by five weeks of union-led protests over pension reform during the holiday season. At the close of trading on the Paris stock exchange, Euronext, shares of supermarket chain Casino Guichard were worth €36.98 ($41.02), down about 4.6% from the previous day’s close price of €38.76. The retailers—as well as Casino’s parent company, Rallye—were among the stocks that saw the biggest declines on Euronext at the time of publication.