Casino news

Casino group announced it will sell another €2bn of assets by the first half of 2021. This follows an earlier phase of store disposals that will be completed by Q1 2020 for a total of €2.5bn, bringing the total of assets sold to €4.5bn. Focus on profitable formats and business areas The retailer will focus on its higher performing formats: ecommerce (Cdiscount), premium (Monoprix) and conve...

GPA has reported gross revenues of BRL$14.2bn (US$3.7bn) for Q2, an 11.3% year-on-year (YOY) increase. This is despite comparative like-for-like performances being affected by a slower recovery of the economy and a particularly strong comparative sales performance in 2018 as a result of the football world cup.   Assaí accounts for over 50% of gross sales In Q2 gross sales for GPA’s Assaí ...

France-based Casino has said its consolidated net sales rose by 1.1% in total, to €8.988 bn, with same-store sales up by 2.3%. The retailer’s performance was driven by the continued strength of its Latin America-based operations, with support coming from its stores in France and Cdiscount. Separately the retailer highlighted several highlights it had generated in the first half. For our look a...

As part of its Q2 results statement, Casino discussed several strategic initiatives it had put in place during the first half of 2019 as it looked to improve its operations and financial position. In this article we look at the programmes it has implemented. Cost savings plan Casino began a cost saving plan to cut costs throughout its operations. This has seen it limit costs at its HQ and i...

As it continues to dispose of non-core assets and focus on its operations in France and Latin America, Casino has agreed to sell its operations in the Indian Ocean. Disposal to grow Casino’s focus Casino has agreed to sell Vindémia to GBH for an enterprise value of €219m. The sale would mark a further step in Casino’s attempts to sell bits of its operations, including stores in France , ...

Brazilian retailer GPA, part of the Casino Group, plans to open its first store testing advanced payment technologies including facial recognition and “scan & go” in 2019. This will be trialled in a Minuto Pão de Açúcar convenience store in São Paulo and the business expects it to open before December. The technology has been developed by Microsoft. The initiative is in line with GPA’s wider...

As Casino continues to evolve in France, we round up news from the retailer. President sees no need for ‘major’ sales in France After a period of disposals in France and changes in Latin America , Casino’s president, Jean-Charles Naouri, has been quoted as saying there are unlikely to be any ‘ major disposals in the retailer’s home market. The statement comes after speculation sugge...

France-based Casino has announced plans to restructure its Latin American operations. The changes will see it control its Latin America-based business divisions in Argentina, Brazil, Colombia and Uruguay through a 41.5% stake in Brazil-based Grupo Pão de Açúcar (GPA).  GPA to acquire all shares in Éxito Through an all-cash tender, GPA will acquire all shares of the Colombia-based Éxito. The...

Brazil-based GPA is enhancing its Aliados Mini Mercado (formerly Aliados CompreBem) wholesale business through the launch of its new B2B ecommerce platform. Background to Aliados CompreBem GPA launched its Aliados CompreBem business model in July 2016, which was re-branded to Aliados Mini Mercado in 2018. The initiative was set up to enable small and midsized independent neighbourhood store...

France-based, Casino-owned Monoprix has announced that its chief executive, Régis Schultz, is set to leave the company. Schultz will be replaced by the current head of the Franprix and Naturalia banners, Jean-Paul Mochet, from 15 July. Schultz to join UAE-based Al Futtaim… As part of its announcement, Casino said: “ After three years with the Casino Group, Régis Schultz, President of Monopr...