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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Casino, Guichard-Perrachon    CO   FR0000125585

CASINO, GUICHARD-PERRACHON

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Casino Guichard Perrachon : Partial EU antitrust win for French supermarkets Casino and Intermarche

10/05/2020 | 05:59am EST
FILE PHOTO: A customer browses products inside a Monoprix supermarket operated by Casino Group, in Paris

LUXEMBOURG (Reuters) - French supermarket groups Casino and Intermarche on Monday won a partial victory in their fight against an EU antitrust raid and demand for information into a buying alliance after Europe's second-top court said regulators failed to prove wrongdoing.

The supermarkets' challenge against the European Commission underlined the recent willingness of companies to fight what they say are excessive demands and regulatory overreach by the EU competition enforcer.

The Commission in February 2017 ordered the companies and their subsidiaries to submit to an inspection.

The EU competition enforcer last year subsequently opened an investigation into the supermarkets' purchasing alliance set up in France in 2014, saying that this could have been used to illegally coordinate their actions.

The supermarkets then took their case to the Luxembourg-based court, disputing the legality of the seizure and copying of data relating to the private lives of their employees and managers and the refusal to return those data.

The General Court agreed with some of their arguments and annulled part of the Commission's inspection decisions. However, it also upheld the EU system for conducting antitrust raids.

"The Commission has failed to show that it had sufficiently strong evidence to suspect exchanges of information concerning the future commercial strategies of the undertakings," judges said.

The tie-up was dissolved in 2018 when Casino and France's Auchan [AUCH.UL] agreed to a global buying deal.

Buying tie-ups have become more popular in recent years as a tactic to counter online retail giant Amazon and rivals offering price discounts.

The cases are T-249/17 Casino, Guichard-Perrachon and AMC v Commission; T-254/17 Intermarché Casino Achats v Commission; and T-255/17 Les Mousquetaires and ITM Entreprises v Commission.

(Reporting by Foo Yun Chee; Editing by Kirsten Donovan)

By Foo Yun Chee


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 0.63% 3118.06 Delayed Quote.67.68%
CASINO, GUICHARD-PERRACHON 6.05% 24.89 Real-time Quote.-43.72%
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Financials
Sales 2020 32 255 M 38 316 M 38 316 M
Net income 2020 163 M 193 M 193 M
Net Debt 2020 6 316 M 7 502 M 7 502 M
P/E ratio 2020 13,2x
Yield 2020 -
Capitalization 2 529 M 3 005 M 3 005 M
EV / Sales 2020 0,27x
EV / Sales 2021 0,27x
Nbr of Employees 209 696
Free-Float 41,8%
Chart CASINO, GUICHARD-PERRACHON
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Casino, Guichard-Perrachon Technical Analysis Chart | CO | FR0000125585 | MarketScreener
Technical analysis trends CASINO, GUICHARD-PERRACHON
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TrendsBullishBearishBearish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 14
Average target price 28,75 €
Last Close Price 24,89 €
Spread / Highest target 64,7%
Spread / Average Target 15,5%
Spread / Lowest Target -27,7%
EPS Revisions
Managers
NameTitle
Jean-Charles Henri Naouri Chairman & Chief Executive Officer
Julien Lagubeau Chief Operating Officer
David Lubek Chef Financial Officer
Julia Perroni Deputy Director-Finance
Gilles Pinoncély Non-Independent Director
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