French retailer Casino Q1 sales down 1.2%
29/04/2025 17:00
PARIS, April 29 (Reuters) - French food retailer Casino CASP.PA said on Tuesday that first-quarter comparable sales declined 1.2% to 2 billion euros ($2.28 billion), marking a sequential improvement from a 1.8% decline in the fourth quarter 2024. The owner of the Monoprix, Franprix and Naturalia brands, said adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in the first quarter reached 100 million euros, down 6 million euros from the first quarter 2024. Now owned by Czech billionaire Daniel Kretinsky, Casino has been attempting a turnaround through job cuts, disposals of large loss-making stores and a refocus on inner-city convenience stores such as Monoprix and Franprix. Casino, France's seventh-largest supermarket group by market share, was brought to the brink of default in 2023 after years of debt-fuelled acquisitions and a declining market share. ($1 = 0.8770 euros) (Reporting by Dominique Vidalon; Editing by GV De Clercq) ((dominique.vidalon@thomsonreuters.com; +33149495432; Reuters Messaging: dominique.vidalon.reuters.com@reuters.net))