Casino has accepted a lifeline offered by a group of investors that will see Jean-Charles Naouri lose control of the company. Casino’s debt crisis: a quick recap After years of struggling, it is reported that Casino has €6.4bn worth of debt and shares have continued to fall in recent months. Casino Group has found the retail climate in France extremely difficult, with its supermarkets and h...

Q2 2023 results have been posted for Walmart, Casino Group, Carrefour and Chedraui. A sales rise in June boosted Walmart Mexico’s Q2 net profit Walmart in Mexico and Central America reported a net profit of $668mn in Q2 2023, +5% year-on-year (YoY), boosted by slightly higher sales in June. Despite growth, earnings were slightly behind those forecasted. Same-store sales increased 8.5% in Me...

Net sales for Casino Group were down -6.6% year-on-year (YoY), and -1.2% in like-for-like sales (LFL) resulting in €5.5bn in Q2 2023. Similarly to Q1, the only positives were its Parisian and convenience banners, and operations in Latin America due to successes of GPA and Grupo Éxito. Small steps in the right direction for Casino supermarkets in France Overall net sales in France retail fel...