(For other news from the Reuters Global Retail Summit, click on http://www.reuters.com/summit/GlobalRetail09?PID=500)
LONDON, June 12 (Reuters) - Italian department store chain Gruppo Coin has seen flat like-for-like sales in June so far after a "big pickup" in May, Chief Executive Stefano Beraldo said.
"(June has been) basically flat ... the first two or three days were very good, then it rained so (it was) lower, so flat basically ... good considering the general environment," he told the Reuters Retail Summit in London.
"This is interesting as apparently the recession is less important than weather in our business."
Beraldo confirmed targets for this financial year given previously given to analysts and investors for earnings before interest, tax, depreciation and amortisation (EBITDA) of 145 million euros, including "negative sales".
"The economic situation is still tough ... so I don't see any sort of end of the recession in the next six months for instance but because of what we made I believe we are in the position to confirm our target for the year," he said.
EBITDA was 133.7 million euros in financial year 2008.
Beraldo said the group, which has opened stores for its brands in eastern Europe, was going ahead with some 20 openings outside of Italy for this year. "It is going ahead in spite of the recession in those countries," he said.
He said Gruppo Coin was not interested in any parts of German retailer Arcandor, which is filing for insolvency. "Germany is a very difficult country ... (it is) not our priority now," he said.
"Unfortunately the market is giving a lot of opportunities. It doesn't mean we are ready for them," he said. (For summit blog: http://blogs.reuters.com/summits/) (Editing by Jon Loades-Carter)