Casino vowed to boost profits and cash flow in its core French market and said it would dispose of additional assets under a 3-year strategy plan.
French retailer Casino, which is battling investor concerns over its high debt, vowed to boost profits and cash flow in its core French market and said it would dispose of additional assets under a three-year strategy plan.
The plan focuses on profit growth through the monetisation of client data, savings from purchasing deals and a greater focus on E-commerce, organic food, convenience stores and energy services. "The remarkable bit is the level of detail and the long time period over which Casino feels confident to provide very strong guidance," wrote brokerage Bernstein.
Casino said on Thursday it was raising its goal for the disposal of non-strategic assets to at least 2.5 billion euros, to be achieved by the first quarter of 2020. It is also expanding its online offering through a deal to use UK online retailer Ocado's platform, while its Monoprix supermarket arm has also become the first French retailer to agree to sell groceries via Amazon.
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