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Enthusiasts Casino: Standard & Poor's degrades the distribution group note, whose stock market has collapsed

16:30  08 october  2022
16:30  08 october  2022 Source:   pressfrom.com

Twitter publishes disappointing results, caused by its conflict with Elon Musk, according to the social network

 Twitter publishes disappointing results, caused by its conflict with Elon Musk, according to the social network © Michaelvi/Adobe Stock Twitter publishes disappointing results, caused by its conflict with Elon Musk, according to the social network Twitter published Quarterly results lower than expectations, a failure which he has attributed, in part, to the uncertainty linked to his potential acquisition by Elon Musk. Twitter , which tries to obtain in court that Elon Musk holds its commitment to buy the social network, saw its turnover fall over a year (-1%), to 1.18 billion dollars , according to quart

Casino : Standard&Poor's dégrade la note du groupe de distribution, dont le cours en Bourse s'est effondré © Ricochet64/Adobe Stock Casino: Standard & Poor's degrades the distribution group's note, whose stock market has collapsed The French distribution group Casino, whose financial situation concerns investors, saw the Standard & Poor's rating agency announce the degradation of the note of its debt, from B to CCC+.

The financial situation of group Casino concerns investors. This Saturday, October 8, the Standard & Poor's rating agency announced that it degraded the debt note of the French company, from B to CCC+, in view of less favorable market conditions than planned for the company. The rating agency said in a statement that it has "revised its forecasts" revised downwards "regarding the profitability of Casino, awaiting a more complex environment for distributors in France in view of the economic context. This is added to "deterioration" of financial market conditions, which weighs on "the liquidity of the group, its ability to assign assets and refinance its debts".

everyone is waiting for the stock market crash and I shop tech shares

 everyone is waiting for the stock market crash and I shop tech shares © provided by the motley fool buyer on escalator Where is the promised stock market crash? The US stock index S&P 500 is now only 10 % away from its all-time high (stand for this number and all further figures: 18.08.2022). After a nice comeback of around 20 % since the last intermediate low. The experts are outraged. After all, all the signals are on red. But the stock market crash can be asked. It is going too well to be true. that can of course change quickly.

The Casino group, managed since 2005 by Jean-Charles Naouri and which employs more than 200,000 people worldwide (including a large quarter in France), has seen its scholarship course collapsed since the start of the year ( -64%) due to concern about its ability to respect its commitments in terms of deleveraging. The past week, the group has lost 13% of its stock market value, its capitalization now weighing less than 1 billion euros, for a turnover 2021 of just over 30 billion. The action, which was still tutying the 100 euros in mid-2014, is exchanging today at less than 9 euros.

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It is following The publication of a BFM Business article that the action has unscrewed again. Published on Wednesday, he cites anonymous sources according to which the main creditors of Casino and his holdings would press the group to sell its activities in Latin America, valued at 2.5 billion euros. The group has experienced financial difficulties for several years. In 2020, the Paris Commercial Court had validated a safeguard plan for the parent company of Casino, Rallye, and the Holdings Cascade (Foncière Euris, Filistis and Euris), heavily indebted, by which Jean-Charles Naouri controls the band.

purchasing power. Casino in turn blocks the prices of 550 daily products

 purchasing power. Casino in turn blocks the prices of 550 daily products © Eric Gaillard/Archives Reuters The logo of a Casino supermarket in Cannes, November 9, 2019. Casino brands announced Monday September 12, 2022 of 550 daily products. The large distribution giant undertakes to repay the consumer as vouchers, if the cost of the items increases. In order to boost the purchasing power of the French , the Casino brands decided in turn to block prices of 550 products until December 4, 2022.

This plan provided for a reimbursement of creditors via the ascent of Dividends of Casino, as well as major asset transfers. But the epidemic of COVID-19 penalized the businesses located in Ile-de-France, Bastion of Casino via its Franprix and Monoprix brands. And during a period of high inflation, as currently, the best-minded brands on the price, or perceived as such by consumers, conquer many customers, to the detriment of their competitors less well positioned as are the brands of the group. As Standard & Poor's note, "the lack of financial flexibility leaves (in Casino) little room for maneuver to invest in its competitiveness in terms of price". In other words, the group engaged in its deleveraging can be less than others to play on its margins to offer low prices to its customers.

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HDI survey: Each fourth German stock systems as retirement provision for risky .
shares as retirement provision are skeptical in Germany. Only every fifth employee does not expect a crash in the coming years. Another class is popular. © provided by Handelsblatt In old -age provision, Germans prefer to rely on real estate than shares. Photo: Dpadata portal copyright = The demographic change poses a challenge in Germany. Against this background, private provision is becoming more important.

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