2023-12-07 22:03:22
By Marie Bartnik
Published yesterday at 6:15 p.m., Updated yesterday at 9:03 p.m.
Casino employees in front of the group’s premises in Vitry-sur-Seine on December 5. ABDUL SABOOR / REUTERS
DECRYPTION – In difficulty for years, the Saint-Etienne group reached an agreement at the end of July with its creditors and investors guaranteeing the sustainability of the group. Four months later, however, its management is selling stores generating half of its turnover. Le Figaro takes stock.
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 distributor has published 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 actually risks a loss of up to 140 millions of euros. An unprecedented drop in distribution, which can be explained by the pricing policy adopted by Casino.
At a time when inflation was increasing in 2022, the distributor chose to…
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#understand #descent #hell #distributor