French supermarket group Casino published a favourable quarterly report, with an increase in turnover that it largely owes to the lockdown in France. Both online activities and convenience stores reported exceptional results.
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What does Daniel Kretinsky have in mind for Casino and Metro? The unruly Czech investor, with a penchant for sectors 'on their way back', has set his sights on the European hypermarket sector, but what are his intentions?
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Vesa Equity Investment, Daniel Kretinsky's investment fund, has increased its stake in French retailer Casino to above the 5 % threshold. Analysts now wonder of the Metro owner might be aiming for further consolidation.
French supermarket chain Casino wants to offload its discount chain Leader Price and is now supposedly close to a deal with Aldi.
British retailer Tesco launches a new and paying loyalty scheme, Real does the same thing in Germany, and Casino already did the same in France. Belgian Delhaize is also experimenting with innovative concepts: are traditional retailers going Amazon Prime-style?
This week, the European Commission opened a formal investigation into possible secret agreements between the French food retailers Casino and Intermarché. They are alleged to have coordinated their selling prices, which is contrary to EU competition rules.
The ailing French distributor Casino wants to reduce its debts and seems to have found an interested party to offload its Géant hypermarkets to. Discounter E.Leclerc has started acquisition talks for three-quarters of the hypermarkets.
French Casino, the parent company of (among others) Géant and Monoprix, saw its turnover increase by 1.8 % in the past quarter. However, the growth is predominantly international: in France, there was a decline in turnover.
According to the newspaper ‘Les Echos’, Casino is conducting exclusive negotiations with Aldi regarding the sale of Leader Price. The possible transaction fits the rescue plan announced on 20 August.
Rumours about a takeover bid by Carrefour for its rival Casino are re-emerging, a deal that would lead to a strong number one in both France and Brazil. Daniel Kretinsky however may still put a stop to it...
Czech billionaire Daniel Kretinsky has acquired a 4.63 % stake in French retailer Casino, along with his Slovak partner Patrik Tkac. The move comes soon after a failed attempt to get a majority share in the German Metro group.
The 'gilets jaunes' and trade unionists have protested at the very first unmanned opening of a Casino Géant hypermarket in France. The hypermarket in Angers is usually staffed, but trials an 'autonomous' Sunday afternoon opening.
The French Casino chain has announced it will accelerate its divestments, in order to to lower debts substantially by 2021.
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.
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.