Innovation and Startups: The first quarter of 2022 is synonymous with growth for the Casino Group (Jean-Charles Nouri).
Casino, the distribution group headed by Jean-Charles Nouri, is off to a very good start in 2022. Its turnover for the first quarter (7.5 billion euros) jumped 4.7% compared to the same quarter of 2021. This growth is explained by the boom in its local formats and its e-commerce in France, but also by the good performance of its South American subsidiaries.
On Friday 22 April, Casino Group presented its results for the first quarter of 2022. The first three months of the year were marked by a return to growth in the group’s business, with a marked improvement in France but also in Brazil. Colombia.
The company, headed by Jean-Charles Nouri, has a turnover of 7.5 billion euros, an increase of 4.7% compared to the first quarter of 2021. This dynamic is explained by, among other things, the recent good performance of the Franprix and Monoprix Urban brands. month. Convenience formats are really popular in France, with an increase of 3.6% (1.6 points higher than the growth of all formats in the group). While the food e-commerce market in France is down 5%, the casino’s food e-commerce particularly stands out with a jump of 21%. Finally, net cash flow improved sharply (+570 million Euros compared to Q1 2021).
The Saint-Etienne distributor also attributes its growth to the performance of its subsidiaries in Latin America, whose business grew by 13.2% overall compared to the first quarter of 2021 (9.7% on a similar basis). In Colombia, subsidiary Grupo Exito recorded strong growth (+21%) on a comparable basis, particularly due to the country’s economic recovery. On the Brazilian side, cash and carry subsidiary Asai continues to expand. It opened 32 stores for the first time in a span of 12 months. The Jean-Charles Nouri branch is also in the process of converting 60 additional hypermarkets to the cash and carry format. Stores that have already converted have tripled their sales.