PARIS (Reuters) – The French distribution group Casino, which hopes to regain balance in 2026 after having bordered on the cessation of payment, now begins its “recovery” from April, announced its director general Philippe Palazzi on Tuesday.
“We go from rescue to the group’s recovery” from April, said Philippe Palazzi during a call with journalists on Tuesday for the announcement of quarterly results.
Casino, which holds the Monoprix, Franprix and Naturalia brands, reported Tuesday of a quarterly turnover dropped by 1.2% in comparable data compared to the first quarter of 2024 to 2 billion euros, due to the reduction of its local store park.
Casino separated from 466 additional points of sale in the first quarter of 2025, according to its press release.
But sales of the first quarter are in sequential improvement compared to the 1.8% drop in the last quarter of 2024.
“Marked in the past”
“Like the year 2024, the first quarter is still strongly marked in the past,” said Managing Director Philippe Palazzi.
However, the CEO said it was “optimistic” and maintained its strategic plan presented last November.
As part of this plan, the group aims to return to the balance of free cash flow after financial costs in 2026.
This plan is based on a strong refocusing on local stores as well as on the development of services and catering in stores.
The benefit before interest, taxes and depreciation (EBITDA) adjusted fell by 6 million euros compared to the first quarter of 2024, to 100 million euros.
“In an unfavorable economic context, commercial activity is maintained and financial performance remains impacted by the group’s transformation,” Casino said in a press release.
Casino came close to the cessation of payments in 2023, after years of acquisition financed by debt under the direction of Jean-Charles Naouri.
Now controlled by the Czech billionaire Daniel Kretinsky, the group has carried out a deep restructuring and a social plan with more than 3,000 posts of posts in order to get back on their feet.
Casino came out of the SBF120 last December. He had briefly returned for a few months in June 2024, after a first exclusion at the end of 2023.
In a separate press release, Casino also announced to plan the franchise of 27 Monop Ile-de-France stores’ within the Venture joint between Monoprix and the family of Moez-Alexandre Zouari.
(Report by Florence Lève, edited by Kate Entringer)
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