There were no major surprises in Casino’s Q3 FY22 performance. While both the LatAm and France Retail segments witnessed positive momentum, the e-com banner Cdiscount was disappointing. However, the stock price enjoyed a double-digit surge after the management announced plans to dispose a partial stake in the LatAm cash & carry banner Asaai (to raise at least $500m). This lends enough cushion for Casino to meet itss near-term obligations and gives the management some breathing space. We maintain ....
