Casino news

Casino has accepted a lifeline offered by a group of investors that will see Jean-Charles Naouri lose control of the company. Casino’s debt crisis: a quick recap After years of struggling, it is reported that Casino has €6.4bn worth of debt and shares have continued to fall in recent months. Casino Group has found the retail climate in France extremely difficult, with its supermarkets and h...

Q2 2023 results have been posted for Walmart, Casino Group, Carrefour and Chedraui. A sales rise in June boosted Walmart Mexico’s Q2 net profit Walmart in Mexico and Central America reported a net profit of $668mn in Q2 2023, +5% year-on-year (YoY), boosted by slightly higher sales in June. Despite growth, earnings were slightly behind those forecasted. Same-store sales increased 8.5% in Me...

Net sales for Casino Group were down -6.6% year-on-year (YoY), and -1.2% in like-for-like sales (LFL) resulting in €5.5bn in Q2 2023. Similarly to Q1, the only positives were its Parisian and convenience banners, and operations in Latin America due to successes of GPA and Grupo Éxito. Small steps in the right direction for Casino supermarkets in France Overall net sales in France retail fel...

Reports from France suggest the discounter is interested in acquiring up to 600 stores from Casino Group. How discounters can rule the world At the beginning of July 2023, we launched our latest discount report, How discounters can rule the world . In the report, IGD’s discount working group presents its opinions on what food discounters need to do in the long term to sustain sales growt...

In its Q1 2023 press release, Casino highlighted that environmental commitments have been made central to its strategy in order to address climate change. Following on from this, the group is installing EV charging stations across eligible stores in France, while a pilot is being tested in Brazil for the collection of recyclable materials. Installation of EV charging stations across all eligib...

In recent weeks Amazon has made four significant strategic developments, investing in its international operations, focusing on sustainability and gearing up for Prime Day 2023. Strengthening commitment to India’s long-term potential Amazon has been quick to compete with Walmart’s increased $2.5bn commitment to the Indian market as it announces plans to take investments to $26bn by 2030, wi...

A summary of recent developments, as the debt-ridden French retailer looks to secure its short-term future. €900m needed to progress with business plan With a reported debt of €6.4 billion, it is fair to say that changes are needed at Casino Group. The retailer has been busy divesting its assets over the past few years and more will be on the way. It needs €900 million of new money in th...

Overall net sales for Casino Group were down by -1.8% year-on-year (YoY) to €5.4 bn in Q1 2023. Its convenience and Parisian banners in France and operations in Latin America were the only positives. Mixed results at home Net sales in France saw a YoY fall of -4.9% in Q1 2023, which resulted in it generating total sales of €3.6 bn in the country. The largest decline in sales was experien...

Casino has announced that Les Mousquetaires, which operates Intermarché, is joining discussions with itself and Teract regarding a purchasing alliance. Extending purchasing alliance to 2028 As part of this, Casino and Les Mousquetaires are exploring extending their existing purchasing alliance until 2028. This discussion may also extend to Groupe Casino and Teract. Areas of collaboration...

Casino Group has signed an exclusive agreement to merge its French retail activities with Teract A merger to create two entities Casino has announced its plans to merge with Teract, who operates a distribution network in France, focussed on garden centre / pet retail and food retail such as bakeries, organic and fresh produce specialist stores.  It is majority owned by the InVivo agricultur...