Casino: Q3 sales up 5% LF, stock soars

(CercleFinance.com) - Casino has announced Q3 2022 sales of 8.
55 billion euros, up 10.6% as reported and up 5.4% LFL (with the difference mainly thanks to a 6.9% currency impact).

The food retailer said that in France (excluding GreenYellow), EBITDA after rent was up 26% year-on-year at 184 million euros, while its cash flow improved by 415 million euros relative to Q3 2021.

For 2022, Casino confirms that it aims to maintain a high level of profitability and improve cash flow generation, while continuing with its 4.5 billion euro disposal plan in France, which is expected to be completed by the end of 2023.

Shoppers are definitely placing their bets with Casino this morning, dashing to its stores, with the stock currently up over 21%.


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