Casino - comment

Away from Casino/Rallye news, Carrefour reported positive Q1 sales numbers yesterday and stated it was confident of higher profit and cash flow for FY23. Sales were up 12% on a lfl basis versus Q1 2022, but 7.1% specifically for France. Carrefour reported 6% and 7% for Hyper and Supermarkets specifically. The French numbers were driven by 8.3% growth in food sales, with non-food sales declining again by 3.4%. Hypermarket food sales were stronger at 7.5%. Carrefour management reported that they maintained solid market share momentum in Q1, particularly in volumes.