Casino reports Q1 2025 net sales down on LFL basis
This downturn includes the impact of a 1.1 percentage point calendar effect due to the leap year in 2024 and the shift of Easter into April, as well as approximately a 2.7 percentage point effect from its convenience store network optimisation.
The group's convenience brands, including Monoprix, Naturalia, Franprix, and Casino labels, experienced a 0.7% dip in net sales on a like-for-like (LFL) basis over the quarter.
Specifically, Monoprix saw its net sales shrink by 0.6% while Franprix's sales fell by 1.7%, echoing the trend from the previous quarter.
Other Casino brand outlets such as Vival, Spar, and Petit Casino also reported a 1.9% decline on a LFL basis.
Casino Group's gross merchandise volume reached €2.90bn in Q1 FY25, marking a 3.6% reduction compared to the same period in the previous year.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) decreased by €6m to €100m over the quarter; however, excluding disynergies, adjusted EBITDA would have seen an increase of €6m.
Throughout Q1 2025, Casino Group persisted in streamlining its store network, closing 466 stores, 96% of which were managed by franchisees or through business leases.
Additionally, the group opened 31 new outlets, with franchisees or business leases operating 90% of them.
In a related news, Monoprix aims to franchise 27 Monop' stores in Paris and the Île-de-France region to a joint venture with the Zouari family.
This initiative aligns with Monoprix's strategy to invigorate sales and accelerate expansion through collaboration with established partners.
The plan includes renovating these stores to align with the latest Monop' concept standards while preserving existing jobs.
Completion of this transaction is pending consultations with employee representative bodies and requisite legal procedures, along with approval from the French Competition Authority.
Casino Group chief executive officer and Monoprix chair Philippe Palazzi said: 'This partnership is fully in line with our strategy of revitalising our store network and developing the franchise model.
"With the support of a strategic, longstanding partner like the Zouari family, we will be able to modernise our network faster and strengthen our appeal in city centres.'
"Casino reports Q1 2025 net sales down on LFL basis" was originally created and published by Retail Insight Network, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
Bitcoin Miner MARA Steps Into HPC With Majority Stake in EDF Subsidiary: H.C. Wainwright
MARA Holdings (MARA) is making a surprise pivot from its bitcoin (BTC) mining roots, announcing late Monday that it will acquire a 64% stake in Exaion, a high-performance computing (HPC) subsidiary of French energy giant EDF, broker H.C. Wainwright said in a research report Tuesday. While MARA has long floated the idea of helping power companies balance grid loads, H.C. Wainwright analyst Kevin Dede said he expected that to remain within a mining-centric strategy, not a direct plunge into HPC buildouts. But with bitcoin halving events looming in 2028 and 2032, and artificial intelligence (AI) demand driving premium returns on compute power, MARA is betting HPC offers stronger margins than mining alone, the analyst wrote. MARA is the latest bitcoin mining company to pivot to AI and HPC. Core Scientific (CORZ) was first to the party last June, when it announced a 12-year deal with AI cloud provider CoreWeave (CRWV). The AI company agreed to buy CORZ last month in an all-share deal. The pivot to HPC also positions MARA in sovereign cloud AI services, a niche where data remains private and segregated behind corporate firewalls, but where scaling requires deep networking and compute expertise, the report said. H.C. Wainwright said the acquisition is a smart entry into HPC, giving MARA credibility it might not achieve on its own. The broker reiterated its buy rating on the shares with a $28 price target. The shares were 0.6% higher, trading around $15.76 at publication time. While MARA's valuation has been buoyed by bitcoin's recent rally, treasury adoption, and exchange-traded fund-fueled inflows, risks remain. These range from BTC price volatility and network difficulty to capital dilution and the operational challenges of data center development, the report added.
Yahoo
12 hours ago
- Yahoo
Sorrell attempts to revive struggling ad firm with merger talks
Sir Martin Sorrell is vying to revive his struggling advertising agency by exploring a potential takeover of a rival group. S4 Capital, which was founded by Sir Martin in 2018, confirmed it has received an approach from MSQ Partners about a possible merger. The company said any deal would be structured as an acquisition of MSQ Partners by S4 Capital, but warned discussions were at a 'very preliminary stage' and there was no certainty an agreement would be reached. Shares in S4 Capital jumped as much as 10pc on announcement of the talks. MSQ Partners, which is majority-owned by US private equity firm One Equity Partners, was contacted for comment. The discussions will raise questions over the future of Sir Martin, who founded S4 Capital following his acrimonious departure from WPP. He grew the company rapidly in its first few years through a slew of acquisitions. But the ad firm, which counts Amazon and Google among its clients, has been hit by a slowdown in advertising spend and accounting blunders that forced it to delay its financial results twice. S4 has also issued a string of profit warnings in recent years after falling short on optimistic revenue forecasts. Shares have collapsed more than 90pc in the last five years with the company's market value now below £140m, down from a peak of around £5bn in 2021. The ad firm has rolled out heavy cost-cutting measures, slashing hundreds of roles and cutting discretionary spending, but still posted a loss of £307m last year after taking a £280m write-down owing to tough trading conditions. London-based MSQ Partners, which was founded in 2011, employs more than 1,850 people worldwide and counts Diageo, Unilever and Vodafone among its clients. It is not the first time S4 Partners has been linked to a potential merger. The ad firm last year received a takeover offer from US marketing group Stagwell but Sir Martin rebuffed the offer, the Wall Street Journal reported at the time. It comes amid an accelerating trend of consolidation across the advertising industry as traditional agencies grapple with the dominance of tech giants and the rapid growth of artificial intelligence (AI). Omnicom and Interpublic are gearing up for a merger that will create the world's largest advertising company, worth $30bn (£22bn). WPP, which was overtaken by French rival Publicis last year, has also been linked to a potential tie-up with Accenture. WPP, which has appointed former Microsoft executive Cindy Rose to replace Mark Read as its chief executive from next month, has itself wielded the axe on 7,000 jobs over the last year in an effort to slim down its business and cut costs. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
14 hours ago
- New York Post
Overseas travel to US continues to tumble as Trump imposes travel bans, tariffs
Travel to the US tumbled 3.1% in July — the latest in a slew of monthly declines as the Trump administration imposes strict curbs on travel and pursues tough negotiations on trade. The most recent drop was fueled by a steep pullback from Germany, China and Switzerland, which were down 14.7%, 13.8% and 12.7% respectively, according to the National Travel and Tourism Office, a government agency that works with the Department of Homeland Security and US Customs and Border Protection. Overseas travel to the US has been declining this year, down 3.1% in July, according to government data. Getty Images Advertisement The latest data does not include travel from Canada and Mexico, the two largest feeder markets to the US, but lately both have seen steep drops. Canadians in particular have been canceling trips to the US, offended by President Trump's suggestion that they be annexed to the US as the 51st state. In June, flights from Canada were down 22% and car crossings were down 33%, according to a report by travel trade publication Skift. Advertisement April represents the only exception to the downward trend, possibly because Easter fell in April instead of March. Overseas visitors increased 0.4% in April, but have been down since then. Among the top 20 countries, six increased their travel to the US in July, including Japan by 9.1%, Dominican Republic, by 7.3%, Spain by 6.7% Italy, by 6.3%, Israel by 6.1% and Ireland up by 2.9%, according to NTTO. Spending on promoting the US as a destination was decimated after the the 'Big Beautiful Bill' was passed in April. Brand USA, which promotes travel to the US, lost 80% of its federal funds. Stephen Yang Advertisement Brand USA, a public-private partnership that promotes travel here, saw its federal funds cut by 80% this year. International travelers are especially coveted because they spend more and stay longer. Every 40 international visit supports one US job, according to NTTO. Last week, the largest hotel company in the world, Marriott International, cut its full year forecast for revenue and profits on slowing travel demand for its properties in the US.
