2012 Registration Document - Groupe Casino

1
Presentation
of the Casino Group
Management
report
Consolidated
financial statements
Parent company
financial statements
Corporate
governance
General
Meeting
Additional
information
1.3. Business and strategy
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Monop’Station is a new concept that first opened in late 2011 in
three regional railway stations (Strasbourg, Chartres et Thionville).
The stores stock the main Monop’ and Dailymonop’ items for
the convenience of travellers.
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Naturalia is the leading specialist retailer of organic products in
the Paris region, with 71 outlets offering more than 5,000 items.
In 2012, Monoprix pursued an active expansion policy across all
its formats, opening a total of 36 new outlets.
Monoprix’s 2012 consolidated revenue (corresponding to the
Group’s 50% stake) totalled €2,010 million.
Franprix
Franprix is based mainly in Paris and, more recently, in the centre
of large cities in the Rhone Valley and Mediterranean basin. It is an
ultra-convenience format with an average selling area of 450 sq.m.,
offering a complete range of food products corresponding to daily
family needs, with a balanced mix between the major national
brands and the competitively priced Leader Price private label.
Ease of access and flexible opening hours also contribute to its
success.
Franprix has established itself as a powerful, differentiated concept
in the urban convenience segment.
In 2012, Franprix continued its controlled expansion strategy,
opening 39 new outlets, bringing the total to 891, including
390 franchises.
Superettes
There are five main superette banners: Petit Casino, Casino
Shopping, Casino Shop, Vival and Spar.
Petit Casino is the Group’s historic convenience format. It projects
a friendly, welcoming image and offers an extensive range of food
products including high-quality fresh produce. The banner is an
integral part of local life in urban and suburban areas.
Vival operates mainly in villages and also projects a friendly,
welcoming image. Alongside a food offering comprising mainly
Casino brand goods, it also provides many other useful day-to-day
services. Spar operates in urban and suburban areas, offering a
range of convenience food products as well as services such as
photo development, bus tickets, etc.
Recognised expertise in franchising is one of the key strengths
of the superette business model. The number of franchise stores
has now reached more than 4,600, mainly under the Spar and
Vival banners. Franchising is an excellent growth driver and also
provides a high return on capital.
In 2011, two new banners were developed, Casino Shopping and
Casino Shop, which have curved shelving displays and closed
chiller cabinets to save energy. These new stores, which provide
many services, have proved extremely popular with consumers
and will be deployed mainly in urban areas.
Lastly, in 2012, 144 Coop d’Alsace convenience stores joined
Casino’s convenience network.
The network now comprises 6,517 stores covering the whole of
France, 2,500 of which are also Cdiscount pick-up points. The
Group is continuing to expand and optimise the network.
The superette outlets posted revenue of €1,480 million in 2012.
Leader Price
Leader Price is the Group’s discount banner. It is aimed at
price-sensitive consumers and offers an extensive food range
(4,200 items), including fresh produce, frozen goods and a few
core regional products, more than.
The Leader Price stores are located in urban and suburban areas
across France.
Its assortment is composed of more than 90% entirely under
the Leader Price private label and Le Prix Gagnant entry-price.
Expansion also continued apace in 2012, with 18 new stores
opened during the year, bringing the total to 604 at end-December.
Géant Casino
Géant Casino’s positioning is based on an enjoyable, comfortable
shopping experience in people-friendly stores, whose average
selling area is 7,000 sq.m. compared with the market standard
of about 9,000 sq.m. It stands apart from rival banners through
its emphasis on private-label products, its expanded, prominently
displayed fresh food offering, and the development of new
non-food universes such as home decoration and lifestyle.
At end-2012, Géant Casino operated 125 (4) hypermarkets, mainly
in southern France.
Géant Casino has embarked on an ambitious plan to refocus its
non-food offering on the more buoyant and profitable apparel,
home and leisure segments. Alongside the refocusing plan, store
space is being reorganised and scaled down to improve return
on capital employed.
Another key differentiating factor was the launch of Alcudia
in 2008, a plan to capture the value of the Group’s shopping
centres through Mercialys, its dedicated shopping mall investment
company (please see below for further details on Mercialys).
Géant Casino’s revenue amounted to €5,246 million in 2012.
Cdiscount
Cdiscount was founded in 1998 and became a Casino Group
subsidiary in 2000. It is one of the leading French B to C
e-commerce sites and enjoyed remarkable growth in 2012,
outperforming its market. (5)
(4) Including international affiliates (of which 6 Géant Casino hypermarkets, 41 Casino supermarkets and 73 Monoprix stores).
(5) Sales growth of 16.3% compared with 7% for the FEVAD ICE 40 index comprising 40 major French online retailers including Cdiscount.
8 / Casino Group / registration document 2012