Casino has announced poor Q3 FY23 figures for France. Lfl sales declined by 5.6% yoy, as the flattish performance in the Parisian and convenience banners (+0.4% yoy) was more than offset by continued weakness in supermarkets/hypermarkets (-14.4% yoy). EBITDA came in at +€136m (-€196m yoy). The management further reduced the FY23 EBITDA guidance to €100m (vs €214m previously). While the recent improvement in volume and customer traffic is positive, the business is still far from healthy. We maint ....
