PARIS (Reuters) – Casino reported on Friday an annual current operating profit down 12.1% at constant exchange rates, penalized by its activities in France and in e-commerce.
Current operating income (ROC) stood at 1.12 billion euros in 2022, compared to 1.19 billion a year earlier.
The French retail group also announced that no dividend would be proposed for 2022 at its next general meeting.
Casino committed at the end of February, after a drop in turnover from its supermarkets and hypermarkets in France in the fourth quarter of 2022, to invest more in promotions this quarter.
In addition, Casino and TERACT announced on Thursday the signing of an exclusivity agreement to “create the French leader in responsible and sustainable distribution”. An entity controlled by Casino will consolidate distribution activities in France and a second, named TERACT Ferme France, controlled by InVivo, will be responsible for the supply of local and short-circuit agricultural products, the two companies said in a press release.
(Written by Kate Entringer)
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