Casino Group: Additional press release following the publication of the 2019 annual results
Additional press release following the publication of the 2019 annual results
Paris, March 26th, 2020,
In addition to the press release published today on the 2019 results, the Group wishes to inform the market of the following additional information, related to the impact of the Covid-19 pandemic on its current activity and its 2020-2021 objectives.
To date, the impact of the Covid-19 pandemic on the Group's business is as follows:
- A strong increase in customer demand for food products since March 13, 2020, which has resulted in an increase in sales over this period consistent with market data1, with a stronger dynamic on convenience and urban formats, Drives and home delivery ;
- A substantial increase in activity at Cdiscount, concerning both the new food offer deployed to meet customer demand and non-food everyday products.
In this highly volatile environment, no material element known to date is likely to call into question the objectives previously formulated by the Group. Nevertheless, in view of the uncertainty regarding the macroeconomic and social impact of Covid-19 over the next year2, and as a precautionary measure, the Group is no longer able to formulate quantified objectives for 2020-2021.
The Group remains mobilized on all the priorities already communicated to the market, both in terms of cost savings plans, control of investments and inventories, and development of its priorities (convenience and premium stores, e-commerce, new activities) as well as its disposal plan.
In the context of the Covid-19 pandemic, Casino Group is more than ever focusing on its core mission of ensuring that all communities have uninterrupted food supplies while complying with the necessary measures to protect the health of employees and clients at all workplaces and in all areas open to the public.
Disclaimer
This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. No representation or warranty, either express or implicit, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice
ANALYST AND INVESTOR CONTACTS
Régine GAGGIOLI – +33 (0)1 53 65 64 17
or
+33 (0)1 53 65 24 17
PRESS CONTACTS
Casino Group – Direction of Communication
Stéphanie ABADIE - - +33 (0)6 26 27 37 05
or
+33(0)1 53 65 24 78 -
Agence IMAGE 7
Karine ALLOUIS - +33 (0)6 11 59 23 26 -
Flore LARGER – Tel : +33(0)6 33 13 41 50 -
1 Source : Nielsen.
2 Cf. in particular the postponement to June of the next macroeconomic forecasts by INSEE and the Banque de France.
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