The Limited Times

Now you can see non-English news...

Casino soon to be "broken into pieces": everything you need to know about the distributor's descent into hell

2023-12-07T17:40:15.476Z

Highlights: Casino soon to be "broken into pieces": everything you need to know about the distributor's descent into hell. In difficulty for years, the Saint-Etienne group had reached an agreement at the end of July with its creditors and investors guaranteeing the group's sustainability. Four months later, however, its management put up for sale stores that make half of its turnover. This unprecedented drop in distribution can be explained by the pricing policy adopted by Casino. At a time when inflation was rising in 2022, the retailer made the choice to...


DECRYPTION - In difficulty for years, the Saint-Etienne group had reached an agreement at the end of July with its creditors and investors guaranteeing the group's sustainability. Four months later, however, its management put up for sale stores that make half of its turnover...


Why does Casino have to put all its hypermarkets and supermarkets up for sale?

The financial situation of the Casino group (Monoprix, Franprix, Casino#Hyper Frais, Casino supermarkets, Naturalia, Cdiscount, etc.) has deteriorated considerably in recent months. The retailer has issued three profit warnings since the beginning of the summer: in June, it still anticipated 214 million euros in EBITDA for 2023. At the end of November, the group warned that it was in fact risking a loss of up to 140 million euros. This unprecedented drop in distribution can be explained by the pricing policy adopted by Casino.

At a time when inflation was rising in 2022, the retailer made the choice to...

This article is for subscribers only. You still have 89% to discover.

Want to read more?

Unlock all items immediately.

TEST FOR €0.99

Already a subscriber? Log

Source: lefigaro

All business articles on 2023-12-07

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.