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CASINO, GUICHARD-PERRACHON SA

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REFILE-French retailer Leclerc freezes price of baguette in inflation fight

01/11/2022 | 02:52am EDT

PARIS, Jan 11 (Reuters) - French retailer Leclerc on Tuesday said it was freezing the price of the country's staple bread loaf, the baguette, for at least four months as he warned about soaring inflation.

"We commit to freezing the price of the 250-gram baguette at 0.29 euros for at least 4 months," Michel-Edouard Leclerc, head of the company, told RMC radio.

Blaming higher commodity and energy prices, Leclerc reiterated his forecast for 4% inflation this year.

"Inflation is back and Leclerc must try to prevent the rise being passed on to consumers," Leclerc said.

He promised tough discussions with suppliers in order to keep the price of other basic foodstuffs in check.

Leclerc heads Les Centres E. Leclerc, a cooperative association of about 600 retailers, which competes against Carrefour and Casino. Its low-price policy has helped it become France's biggest food retailer by market share. (Reporting by Dominique Vidalon; editing by Richard Lough)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CARREFOUR 0.67% 21.17 Real-time Quote.31.45%
CASINO, GUICHARD-PERRACHON SA 4.76% 18.92 Real-time Quote.-18.27%
ON SEMICONDUCTOR CORPORATION -1.83% 55.15 Delayed Quote.-18.80%
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Analyst Recommendations on CASINO, GUICHARD-PERRACHON SA
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Financials
Sales 2022 31 728 M 33 008 M 33 008 M
Net income 2022 259 M 269 M 269 M
Net Debt 2022 7 714 M 8 026 M 8 026 M
P/E ratio 2022 11,5x
Yield 2022 3,20%
Capitalization 2 044 M 2 126 M 2 126 M
EV / Sales 2022 0,31x
EV / Sales 2023 0,28x
Nbr of Employees 196 307
Free-Float 52,1%
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Casino, Guichard-Perrachon SA Technical Analysis Chart | CO | FR0000125585 | MarketScreener
Technical analysis trends CASINO, GUICHARD-PERRACHON SA
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 11
Last Close Price 18,92 €
Average target price 18,95 €
Spread / Average Target 0,16%
EPS Revisions
Managers and Directors
Jean-Charles Henri Naouri Chairman & Chief Executive Officer
David Lubek Chef Financial Officer
Julien Lagubeau Chief Operating Officer
Nathalie Andrieux Independent Director
Christiane Féral-Schuhl Independent Director
Sector and Competitors
1st jan.Capi. (M$)
CASINO, GUICHARD-PERRACHON SA-18.27%2 031
SEVEN & I HOLDINGS CO LTD12.44%38 851
AVENUE SUPERMARTS LIMITED-30.84%27 017
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CARREFOUR30.58%16 370