Casino : Better than decent H1 2020 results – the scale of the fall in the share price looks excessive relative to fundamentals
>Good commercial momentum in Q2 (+10.4% l-f-l) - Sales were € 16,140m in H1, down -4.2% reported but up 5.9% on an organic basis (with +10.8% in Q2). In Q2, l-f-l growth was higher than we expected: +10.4% on a consolidated basis (vs +5.9%e) with +6% in France (vs 2.9%e) and +12.5% in Latam (vs +8%e). The performance of the banners in France was particularly good: supermarkets and convenience stores took full advantage of the health crisis: +9.9% l-f-l for supermarket...Casino Guichard-Perrachon is a food retailer based in France. Co. operates hypermarkets, supermarkets, discount stores, convenience stores and cafeterias. Co.'s stores are discount stores selling groceries and consumer goods, and providing services like financial and insurance services, real estate, and restaurants. Co. operates hypermarkets under the brand Geant Casino; urban and rural supermarkets under the brand Casino Supermarches; city-centre supermarkets under the brand Monoprix; convenience/national superettes under the brands Petit Casino, Vival and Spar; covenience-paris area stores under the brand Marche Franprix; and discount stores under the brand Leader Price.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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