Casino’s H1 performance was a mixed bag – the top line being in line while the profit and net debt disappointed. In Q2, group same store sales came in at +8.1%, with positive momentum in both France Retail and LatAm. However, the H1 trading profit slumped due to a softer showing in the Q1. The management has announced the sale of a majority stake in GreenYellow for an EV of €1.4bn, which is in line with the valuation in our NAV. We will reduce our financial estimates but maintain our positive st ....
