In a difficult context for the large distribution in France, Edgard Bonte, the new CEO of Auchan, had promised a year ago " heavy arbitrations and renunciations " to relaunch his group. These sacrifices are beginning to bear fruit. In 2019, the distributor's profitability improved significantly. Its Ebitda (gross operating surplus) increased by 14% (+ € 227 million) worldwide, and by 37% in France, according to its results published Friday. "The Renaissance plan is yielding its first results," said the CEO. The commercial margin increased by 1.1 points, " a real victory ", he believes.
As part of its transformation plan, Edgard Bonte sold or closed 21 unprofitable stores in France, including a hypermarket. A first. Abroad, nearly 50 stores have been sold. The new CEO also got rid of the group's Italian and Vietnamese subsidiaries, which generated heavy losses. These latest sales are part of the improvement
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