Latest news with #PhilippePalazzi
Yahoo
5 days ago
- Business
- Yahoo
Casino to introduce Franprix and Monoprix retail brands in Morocco
French convenience retailer Casino Group has partnered with Moroccan conglomerate H&S Invest to introduce its retail brands in Morocco. The collaboration seeks to establish 210 Franprix and Monoprix stores across the country by 2035. The alliance is part of Casino Group's international growth plan through franchising. The group, with operations spanning 30 nations, already collaborates with 472 franchised outlets outside mainland France, contributing to 3.5% of its net sales in 2024. Casino Group CEO Philippe Palazzi stated: 'This partnership with H&S Invest Holding is fully in line with our strategy of expanding internationally through franchising. It illustrates our ability to leverage the strength of our brands, our logistics know-how and our expertise in convenience retailing in a market as dynamic as Morocco. 'Thanks to H&S Invest Holding's deep local roots and solid operations, we will be able to rapidly roll out a network of high-performance convenience stores in step with changing consumer habits in Morocco.' H&S Invest views the partnership as an opportunity to diversify its retail division. The introduction of Franprix and Monoprix is expected to improve the Moroccan convenience retail landscape. Franprix operates convenience stores in cities and towns while Monoprix offers food, apparel, home goods, beauty products and leisure items. The inaugural stores will launch in 2026 and will offer a curated selection of fresh goods, and a substantial quantity of local products. H&S Invest Holding chairman Moncef Belkhayat stated: 'We are proud to be partnering with a major international player like Casino Group. This strategic partnership will enable us to offer a new customer experience in the Moroccan market. By 2030, we aim to create more than 1,000 direct and indirect jobs across the Kingdom through the roll-out of the Franprix and Monoprix banners.' In the first quarter of fiscal 2025, net sales of the Monoprix brand dropped 0.6% and Franprix's sales by 1.7%, compared to the same period in fiscal 2024. "Casino to introduce Franprix and Monoprix retail brands in Morocco" 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. 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
Morocco World
6 days ago
- Business
- Morocco World
French Retail Group Casino to Launch Over 210 Stores in Morocco by 2035
Rabat – French retail group Casino and Moroccan multi-sector company H&S Invest Holding announced on Monday a new partnership to bring Casino's brands to Morocco. The first stores are expected to open in 2026. The two companies said in a joint statement the goal is to open more than 210 stores across Morocco over the next 10 years. These stores will operate under the French brands Franprix and Monoprix. Casino described the agreement as an important step in its new international growth strategy. The group aims to expand abroad through franchising, allowing local partners to run stores under its brand. Casino already works with 472 franchised stores outside mainland France, which made up 3.5% of its total revenue in 2024. Casino CEO Philippe Palazzi and Moncef Belkhayat, President of H&S Invest Holding, signed the partnership this morning in Rabat. Moroccan Minister of Industry and Trade Ryad Mezzour and France's Ambassador to Morocco Christophe Lecourtier also attended the signing ceremony. Pallazi expressed optimism about the new partnership and described it as an important moment for Groupe Casino and a sign of their shared ambition for Morocco. 'This collaboration perfectly reflects our strategy: relying on the strength of our brands, our expertise in franchising and logistics, and on solid partners to deliver a quality, local convenience offering that meets local expectations,' he said in a statement. Meanwhile, H&S Invest Holding said the partnership marks the beginning of 'a strategic partnership for the development of the Monoprix and Franprix brands in the Moroccan market.' The company added that the project is set to 'transform' local retail in Morocco by offering a modern shopping experience, with high-quality products, fresh food options, and services tailored to new urban lifestyles. The project also includes the creation of a dedicated purchasing center to support neighbourhood grocery stores. Tags: group casinoMoroccoretail
Ya Biladi
6 days ago
- Business
- Ya Biladi
Moncef Bekhayat plans to open 210 Franprix and Monoprix stores in Morocco
The French group Casino announced on Monday the signing of a strategic partnership with the Moroccan company H&S Invest Holding, with plans to open 210 Franprix and Monoprix stores in Morocco by 2035. This alliance is part of Casino's new international expansion strategy, which relies on franchising to boost its brands' presence abroad. The group, which also owns Vival and the online retailer CDiscount, aims to capitalize on the popularity of its local convenience store brands. H&S Invest Holding, described as a «Moroccan multi-business group specializing in the life economy», sees this partnership as a way to diversify its retail division. According to its president, Moncef Belkhayat, the first stores are expected to open in 2026, with the goal of creating over 1,000 direct and indirect jobs across the Kingdom by 2030. The development of the Franprix and Monoprix brands is expected to invigorate the local retail landscape and meet the growing demand for quality and convenience. From Casino's perspective, the partnership represents a significant opportunity. «This partnership is fully aligned with our international development strategy through franchising», said Philippe Palazzi, the group's CEO, in a statement. He believes the local presence and strong operational expertise of H&S Invest Holding will enable the rapid rollout of an efficient store network, adapted to the evolving consumption habits of Moroccans. Controlled by Czech billionaire Daniel Kretinsky, the Casino group operates in over 20 countries and has 472 franchised stores outside mainland France, accounting for 3.5% of its 2024 revenue. Despite this international footprint, the group recorded a 5% drop in sales in the first quarter of 2025, with net sales down to 2 billion euros.
Yahoo
01-05-2025
- Business
- Yahoo
Casino reports Q1 2025 net sales down on LFL basis
French retail group Casino Group reported net sales of €2.00bn ($2.27m) in the first quarter (Q1) of financial year 2025 (FY25), reflecting a drop of 1.2% on a comparable basis and 5.0% in reported figures. 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.
Reuters
28-02-2025
- Business
- Reuters
Casino shares slide more than 12% after group reports 2024 loss, store closures
Feb 28 (Reuters) - French supermarket group Casino ( opens new tab on Friday reported a net loss of 295 million euros ($306.8 million) for 2024 after a year marked by restructuring, store disposals and job cuts, sending shares down more than 12%. The owner of the Monoprix, Franprix and Naturalia brands, which fell out of France's SBF120 (.SBF120), opens new tab index for a second time in two years in December, said it sold 366 hypermarkets and supermarkets and closed 768 points of sale last year. By 1235 GMT on Friday its Paris-listed stock, which has fallen 38% so far this year, had slid to 0.68 euros, its lowest recorded in LSEG data going back to 1985. "We have implemented concrete and difficult actions to save the group, which will penalise sales in the short term, but which are necessary to ensure the group's long-term viability," CEO Philippe Palazzi told journalists in a post-earnings call. Comparable yearly sales fell by 2.6% to 8.47 billion euros, the group said in a statement. A consortium led by Czech billionaire Daniel Kretinsky bought a majority stake in the company after the Paris Commerce Court last February approved a procedure to bail it out. Casino, which in November presented its strategic plan to 2028, now expects to return to break-even in its free cash flow after expenses in 2026. "Net results are showing a strong improvement," Palazzi said on Friday. "The first signs of recovery are already there." ($1 = 0.9619 euros)
