Casino group announced it will sell another €2bn of assets by the first half of 2021. This follows an earlier phase of store disposals that will be completed by Q1 2020 for a total of €2.5bn, bringing the total of assets sold to €4.5bn.
Focus on profitable formats and business areas
The retailer will focus on its higher performing formats: ecommerce (Cdiscount), premium (Monoprix) and convenience (Franprix). Like the first disposal plan, it seems that the second one will continue to focus on Géant Casino hypermarkets and Leader Price discount stores. But no official information has been released yet regarding the stores that will be sold.
In addition, the retailer announced its strategy to invest in high-growth businesses such as energy, data, advertising and data centers.
Businesses adapted to shopper needs
With these disposal plans, Casino aims at completing the ongoing the transformation of its business. It will concentrate its investments in a reduced number of activities, adapted to current shopper needs. The retailer plans to increase synergies between the different formats as part of its omnichannel strategy.