For some time now, the Casino brand has been in crisis. The latter, which is renegotiating its abysmal debt of 6.4 billion euros, is also experiencing other controversies, such as the hearing of its CEO Jean-Charles Naouri by the Financial Brigade for price manipulation. Financial and legal concerns that the group has trouble managing.
But while the brand has sold 119 stores to Intermarché, it is still trying to reveal itself and relaunch its business by massively lowering its prices. Indeed, Casino has decided to lower the price of thousands of items sold in its stores by 10%. Something to delight French consumers.
The sharp drop in figures experienced by Casino can be explained by the decisions taken by the group on their inflation prices. “Last year, we made the choice to pass on to our shelves all the price increases granted to , while our competitors have absorbed part of it, taking on their margins, ”explains the DG of Casino to our colleagues from Parisian. Trying to get its head above water, Casino has since February slashed the prices of thousands of items by around 10%, on average. Which is enough to make us want to shop in these supermarkets again.
Other measures will surely be put in place by the Naouri group in order to go up the slope. This is the case, for example, of a possible return to traditional checkouts in hypermarkets, or even to “give back its letters of nobility to the Casino loyalty card”, as Le Parisien reports.
