Casino: Q3 sales down 5.1%

(CercleFinance.com) - French food retailer Casino has reported Q3 sales of E2.
1bn, down 5.1% y-o-y (or -1.8% LFL).

In detail, convenience brands posted sales of E1.8bn (-0.7% LFL), with Monoprix up 0.9% LFL, Franprix down 1.2% LFL, Casino down 4.5% LFL, while the Cdiscount brand was down 8.1% LFL, all of which are in a deteriorated market, broadly in line with the previous quarter.

Streamlining of the store base continued over the quarter, with the closure of 141 unprofitable stores (449 YTD) and the opening of 50 franchised or leased stores (192 YTD).

9m 2024 adjusted EBITDA came in at E402m (-24%), with a margin of 6.4%, while 9m FCF stood at -E539m (vs. -E846m for 9m 2023).

The group will present its Strategic Plan to 2028 on 14 November 2024.


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