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  HOME | Business & Economy (Click here for more)

Moody’s: Gilets Jaunes Protests in France Are Credit Negative for Retailers

PARIS – The yellow vest protests sweeping France have had a significant impact on the country’s retail sales in November, which could linger into December, said Guillaume Leglise, an analyst at Moody’s Investors Service.

“Although the impact of the protests will mostly be felt in 2018 results, it’s probably accelerated the rise in online sales, a credit negative for many retailers, with the notable exception of Amazon.com,” he said.

By company, Fnac Darty, THOM Europe, and Mobilux 2 S.A.S., which are heavily reliant on Christmas sales are likely to be under pressure.

Moody’s cites revenue losses in the sector of EUR1 billion since demonstrations started, according to Federation du Commerce et de la Distribution.

 

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