The French Casino chain has announced it will accelerate its divestments, in order to to lower debts substantially by 2021.
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The fastest-growing food retailer on the French market is - once again - German discounter Lidl. Market leader E.Leclerc continues to make progress, but Carrefour and Casino are unable to reverse the downward trend.
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Even though talks between the two retailers were dropped last year, according to analysts from Barclays, a tie-up between Carrefour and its French competitor Casino would not be unthinkable, especially because of the ongoing difficulties at Casino.
While turnover is rising for French retailer Casino, its net loss is also mounting. Reducing debt is now the priority: by the end of 2020, debt should be down to 1.5 billion euros, compared to the 5 billion of today.
In a quest for cash, French supermarket group Casino is selling its subsidiary Vindémia in the Indian Ocean. In the domestic market of France, three hypermarkets will also be sold to competitors.
Lidl and Leclerc keep growing their market share in the hyper-competitive French food market, which has barely seen any growth as a whole. Most of their success comes at the cost of Carrefour, Casino and Auchan, which are all in a state of decline.
Rallye, the owner of French retailers like Casino and Monoprix, is granted protection from creditors. The group is in serious financial difficulties and now has at least six months to settle its debts.
This week, the offices of supermarket chains Casino and Intermarché (in France) and Carrefour and Louis Delhaize (in Belgium) were visited by inspectors from different competition authorities. They are investigating whether the retailers violated antitrust regulations with their purchase alliances.
French supermarket group Casino is expanding its partnership with Amazon to the whole of France. Currently, only customers in Paris can order Casino's subsidiary Monoprix' private label products through Amazon.
French supermarket group Casino continues to sell its stores: the company has sold 33 supermarkets to Lidl and one Geant hypermarket to rival E.Leclerc.
French retailer Casino has opened a second Belgian Franprix store in Brussels. It is a small convenience store with a limited 'on the go' product range.
In order to further reduce its debts, French retail group Casino is selling six Géant hypermarkets and quite some real estate.
In France, supermarket group Casino has posted surprisingly good results. The chain itself spoke of the best year of the past five, despite problems with the yellow vest movement.
French retailer Leclerc is negotiating with its competitor Casino to take over "certain hypermarkets" of the Géant Casino chain. Casino recently offered up 20 of its 110 hypermarkets for sale.
French supermarket chain Casino follows the trend and opens a shop without check-out near the Champs Elysées. In this way it becomes a French variant of the concept of Amazon Go in the United States.
Looking to work away its towering debts, French retailer Casino has decided to sell 55 retail premises of supermarket chain Monoprix for 565 million euro.