Casino’s stock price has slipped c.16% in 2022 ytd (vs a flattish performance for the sector). Investors have penalised the grocer for a higher reliance on proximity banners, which are concentrated in urban areas (e.g. Paris). Poor footfall / tourist flow due to the recent pandemic wave has been a key culprit behind the recent profit warning. However, this is not a structural issue, in our opinion. Our current estimates are already conservative vs the revised EBITDA guidance. No change in the st ....
08 Feb 2022
Casino and the COVID-19 led trauma!
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Casino and the COVID-19 led trauma!
- Published:
08 Feb 2022 -
Author:
Nishant Choudhary - Pages:
Casino’s stock price has slipped c.16% in 2022 ytd (vs a flattish performance for the sector). Investors have penalised the grocer for a higher reliance on proximity banners, which are concentrated in urban areas (e.g. Paris). Poor footfall / tourist flow due to the recent pandemic wave has been a key culprit behind the recent profit warning. However, this is not a structural issue, in our opinion. Our current estimates are already conservative vs the revised EBITDA guidance. No change in the st ....