2021 ANNUAL REPORT
FROM
IDEASTO
ACTION.
CASINO GROUP — 2021 ANNUAL REPORT
Established almost 125 years ago, Casino
Group is today a leading food retailer, with more
than 11,500 stores worldwide across France and
Latin America.
With a clear vision of changes taking place
in the sector, its goal is to accelerate the trans-
formation of retail. This is why all of the Group’s
distribution activities are positioned in high-
potential formats: convenience, premium and
e-commerce.
The Group draws on its culture of inno-
vation and its digital maturity to promote its
expertise in technology, logistics and energy
across the global retail ecosystem.
By giving its 208,000 employees a role to
play in its dual ecological and digital transition,
the Group is empowering them to become
ambassadors of new consumption models to
their customers.
As it dreams up ideas and puts them into
action, Casino Group is inventing a sustainable
future for retail.
CONVENIENCE
STORES
IN FRANCE
No. 1
RETAILER
IN COLOMBIA
No. 1
E-COMMERCE
PLAYER
IN FRANCE
No. 2
RETAILER
IN BRAZIL
No. 2
FROM
IDEAS
TO
ACTION.
P. 04 – 21
OUR
GROUP
OUR
BUSINESS
UNITS
P. 72 – 111
P. 22 – 71
OUR
RESPONSES
TO THE 12 PRESSING ISSUES
FOR THE FUTURE OF RETAILING
2 — 3
OUR
PERFOR-
MANCE
P. 112 – 131
CASINO GROUP — 2021 ANNUAL REPORT OUR
GROUP
P. 12
INTERNATIONAL
PRESENCE
P. 18
SOCIAL
RESPONSIBILITY
P. 10
KEY
FIGURES
P. 16
BOARD OF
DIRECTORS
P. 06
MESSAGE FROM
THE CHAIRMAN
P. 14
EXECUTIVE
COMMITTEE
MESSAGE FROM THE CHAIRMAN
6 — 7
Jean-Charles Naouri
Chairman and
Chief Executive
Officer of
Casino Group
“PREMIUM, CONVENIENCE
AND E-COMMERCE
REPRESENT MORE THAN
THREE QUARTERS OF THE
GROUP’S SALES IN FRANCE”
The retail sector must constantly
adapt to its customers’ expectations. How-
ever, these expectations are not the same as
they were in the early 2000s. The everyday
needs of consumers in France reflect a
number of different influences. Demographic
trends, socio-economic factors, technologi-
cal change and the climate
intertwined,
crisis are all
creating a radically new
retail landscape. This con-
stant evolution has been
further accelerated by the
pandemic and its profound
impact upon our lifestyles.
So much so that in
20 years, but particularly
since 2020, the rules for
creating value in retail have
changed dramatically. The
challenge for us is to antici-
pate, prepare and support these changes
and above all to consolidate our position as
a leader in the businesses and formats that
will meet future consumer needs. To achieve
this, Casino Group began undertaking major
transformation projects as early as 2018.
Firstly, we have repositioned all our retail
activities in promising and profitable formats.
Secondly, we have decided to leverage our
expertise in energy and technology to drive
our ecological and digital transformation,
by developing related activities with high
added value. This strategic roadmap is
today more relevant than ever. We are
constantly strengthening our
lead in convenience, pre-
mium and e-commerce stores
and activating new drivers
for growth in our B2B activ-
ities. Therefore, Casino Group
builds new leadership posi-
tions to ensure continued
growth.
These transformations,
with all Group employees
with us every step in the
way, take time. In 2021, the
health crisis also disrupted
consumer habits and tourism and affected
the Group’s key geographies – particularly
Paris, south-eastern France, and major cities
in Brazil and Colombia. As a result, we
are looking forward to 2022 to fully reap
the rewards of our work to transform
our models.
The rules
for creating
value in retail
have changed
dramatically.”
CASINO GROUP — 2021 ANNUAL REPORT MESSAGE FROM THE CHAIRMAN
8 — 9
Nevertheless, 2021 allowed us to
make major progress along the road we
have mapped out. We have refocused our
retail activities on the most buoyant formats,
with premium, convenience and e-commerce
now representing more than
three quarters of the Group’s
sales in France, compared
with only half of Group sales
in 2018.
With our sights set
once again on expansion,
we opened 730 conveni-
ence stores in France this
year, drawing on the appeal
of our small urban formats
– Franprix, Naturalia and
monop’ – as well as subur-
ban and rural formats – Vival, Spar and Le
Petit Casino. These launches are continuing
at pace, with more than 800 stores set to
open in 2022. Above all, the continuation of
the efficiency plans undertaken has sustain-
ably increased banner profitability: today, all
banners are profitable, and the most effi-
cient are very profitable. These successes
are rooted in the fundamentals of our
Group. The density of our geographic
coverage, the strength of our brands and
the culture of
innovation
shared by our teams form a
solid foundation that has
helped our banners return
to growth.
In this way, we have
strengthened the areas of
the
development where
Group has
long been a
forerunner. One example is
our
loyalty programme
subscriptions, which give
customers a 10% discount on
their purchases. The Casino and Monoprix
banners now have 210,000 subscribers,
who spend four times more in our stores
than other customers. This is especially true
of home delivery, which saw sales increase
by 48% in 2021.
With our sights set
once again on
expansion, we opened
730 convenience stores
in France this year.”
With Cdiscount, the Group foresaw
the non-food e-commerce revolution com-
ing over 20 years ago. The site, which now
attracts 23 million unique visitors per
month, is the French leader in the sector
and is stepping up its development towards
a powerful technological platform model.
And our foresight when it
comes to e-commerce is
part of a very successful
strategy.
to
Since 2018, we have
forged strategic alliances
with the best global players
in the market to take the
in home shopping
lead
delivery. Thanks
the
unique technological and
logistical tool deployed with
Ocado shortly before the
pandemic hit, the exclusive partnership with
Amazon, the collaboration with delivery
platforms and the recent agreement with
Gorillas, the Group is now the leading player
in food e-commerce in Île-de-France. We
offer our customers a variety of solutions,
from large-scale shopping to quick, small
orders. The key is successfully combining
digital performance,
logistical efficiency
and a close relationship with consumers.
That is why we continue to innovate to
harness the full potential of e-commerce
and the strength of our store networks.
high
Thanks to the maturity we have
gained in e-commerce, we
can now go one step further.
The creation of Octopia
marked the transition to
a
value-creating
model, allowing us to offer
Cdiscount’s expertise in the
development and operation
of marketplaces to other
retailers both within and
beyond France. Similarly,
our alliance with Ocado has
recently given rise to a new
joint venture, which will market our highly
advanced food e-commerce solution to
other retail players in France. It is essentially
a duplication of the highly successful
monetisation model developed very early
on by GreenYellow in energy and then by
relevanC in digital.
Our foresight
when it comes to
e-commerce
is part of a very
successful strategy.”
The culture of innovation, which has
been a feature of Casino Group from the
start, is moving up a gear. The continuous
transformation of assets allows us to con-
stantly adapt our banner portfolio, such as
the conversion of Brazilian Extra hypermar-
kets into Assaí to develop the pipeline of
the banner, whose cash & carry model is
popular with consumers.
Earlier, I mentioned the dual ecolog-
ical and digital transformation that all play-
ers across the economy are facing. Our
Group is rising to the challenge thanks to
innovation. We were the first
to digitalise the customer
experience on a large scale
to provide a seamless and
personalised shopping expe-
rience. We are establishing
new sales channels, through
a chatbot developed on
WhatsApp and Instagram,
and exploring the possibilities
offered by the metaverse.
We have developed
in data
crucial expertise
analysis and enrichment with our intrapre-
neurial start-up relevanC. The recent part-
nership with Intermarché gives us access to
data concerning consumer habits of a quarter
of the French population, which puts us in a
strong position to further personalise our
offering and generate significant revenue in
retail media. This technological expertise
places the Group at the heart of new value
creation models in retail.
In this regard, artificial intelligence is
set to make all the difference. By developing
AI and machine learning tools, we will pro-
vide our customers with the best possible
experience on our digital platforms, staying
one step ahead of their needs and offering
products tailored to the individual. To this
end, Casino Group is backing the creation
of a sponsorship chair dedicated to algo-
rithms and machine learning at France’s
prestigious École normale supérieure. We
believe it is essential that talented people in
France with the skills to drive this revolution
are given all the training they need.
Innovation is also at the heart of our
initiatives to preserve the climate and biodi-
versity. Casino Group has embarked on an
impact strategy designed
to meet the challenges of
resource conservation, by
reducing negative externali-
ties and bringing consumers
on board. We take a com-
prehensive approach
to
ensuring this requirement is
fulfilled, from the production
and transport conditions of
the products we sell to the
way our stores and ware-
houses are designed, in a
constant search for energy efficiency.
This continuous improvement pro-
cess, long underpinned by the commitment
of our employees every day, has been
recognised by independent organisations.
The B Corp certification awarded to Natu-
ralia – the first French food banner to have
received it – is a perfect example. In 2021,
the Group was once again the leading
retailer in Europe in terms of its environ-
mental and social performance, according
to Moody’s. This is a source of pride that we
share at every level of the company, and
which inspires us to go even further•
Innovation is also
at the heart
of our initiatives to
preserve the climate
and biodiversity.”
CASINO GROUP — 2021 ANNUAL REPORT KEY FIGURES
10 — 11
KEY FINANCIAL
FIGURES
at 31 December 2021
CONSOLIDATED
NET SALES
€30.5bn
EBITDA
€2,527m
TRADING PROFIT
€1.2bn
UNDERLYING NET PROFIT,
GROUP SHARE
€94m
BREAKDOWN OF
CONSOLIDATED NET SALES
BREAKDOWN OF NET SALES
IN FRANCE
46%
France banners
47%
Latin America banners
7%
E-commerce (Cdiscount)
21%
Hypermarkets
2%
Other
18%
Convenience (Franprix,
Vival, etc.)
46%
Supermarkets (Monoprix,
Casino supermarkets)
13%
E-commerce (Cdiscount)
KEY NON-FINANCIAL
FIGURES
at 31 December 2021
EMPLOYEES
208,000
STORES
11,500
EMPLOYEES ON
PERMANENT CONTRACTS
94%
MEALS DONATED
TO FOOD BANKS
65m
EMPLOYEES WITH
A DISABILITY
8,770
CARBON FOOTPRINT*
SINCE 2015 IN FRANCE
-47%
* Scope 1 and 2 greenhouse gas emissions
SHARE OF WOMEN
IN GROUP MANAGEMENT
CHANGE IN GROUP
CARBON EMISSIONS*
39.5% 40% 41%
45%
-38%
2019
2020 2021
2025
Target
2015
2020 2021
2030
Target
* Scope 1 and 2 greenhouse gas emissions
in France in tonnes of CO2 equivalent
CASINO GROUP — 2021 ANNUAL REPORT
INTERNATIONAL PRESENCE
12 — 13
FRANCE
Cdiscount
Monoprix
Franprix
Casino Supermarkets
Géant Casino
Naturalia
Vival
Spar
Le Petit Casino
Sherpa
Le drugstore parisien
BRAZIL
Assaí
Pão de Açúcar
Mercado Extra
Compre Bem
CAMEROON
Bao
COLOMBIA
Éxito
Carulla
Surtimax
Super Inter
Surtimayorista
Viva
URUGUAY
Disco
Devoto
Géant
ARGENTINA
Libertad
FRANCHISED STORES
EUROPE // Belgium, Italy, Luxembourg, Switzerland. OVERSEAS FRANCE // French Guiana, Guadeloupe, Martinique, New Caledonia, Réunion,
Saint Martin. AFRICA // Burkina Faso, Cameroon, Congo, Djibouti, Egypt, Gabon, Guinea-Conakry, Ivory Coast, Libya, Niger, Senegal, Togo, Tunisia.
MIDDLE EAST // Dubai, Kuwait, Qatar. INDIAN OCEAN // Madagascar.
SUPPLY CONTRACTS
EUROPE // Andorra, Czech Republic, Georgia, Netherlands, Portugal, Romania, Russia, Spain. AMERICAS // Canada, Dominica, Haiti, Saint Lucia,
United States, Venezuela. INDIAN OCEAN // Comoros, Mauritius, Seychelles. AFRICA // Algeria, Benin, Burundi, Central African Republic, Chad,
Democratic Republic of the Congo, Equatorial Guinea, Ghana, Liberia, Mali, Mauritania, Morocco, Mozambique, Rwanda, São Tomé and Principe.
MIDDLE EAST // Lebanon. ASIA // Azerbaijan, Cambodia, China, Hong Kong, Japan, Kazakhstan, Malaysia, Mongolia, Philippines, Singapore,
Thailand, Vietnam. OCEANIA // Australia.
A GLOBAL
LEADER
IN RETAIL
With historic roots in France and
Latin America, Casino Group
continues to expand the international
presence of its banners, with
383 franchised stores worldwide.
At the same time, it is rolling out
private-label brands in new markets.
CASINO GROUP — 2021 ANNUAL REPORT EXECUTIVE COMMITTEE
14 — 15
AN ACTION-ORIENTED
COLLECTIVE
JEAN-CHARLES
NAOURI
—
Chairman and
Chief Executive Officer
DIANE COLICHE
—
Executive Director
of Monoprix
HERVÉ DAUDIN
—
Executive Director,
Merchandise and
Chairman of AMC
FRANCK-PHILIPPE
GEORGIN
—
General Secretary
and Executive
Committee Secretary
CARLOS MARIO GIRALDO—
Chief Executive Officer
of Grupo Éxito
EMMANUEL GRENIER
—
Chairman and Chief Executive
Officer of Cdiscount
CÉCILE GUILLOU
—
Chief Executive
Officer of Franprix
Casino Group
Executive
Committee
at 10 May 2022
JULIEN LAGUBEAU
—
Chief Operating Officer
DAVID LUBEK
—
Chief Financial Officer
TINA SCHULER
—
Chief Executive Officer
of Casino Supermarchés,
Géant Casino
and Casino Proximités
GUILLAUME
SÉNÉCLAUZE
—
Chairman of Monoprix
CASINO GROUP — 2021 ANNUAL REPORT
BOARD OF DIRECTORS
A BALANCED
AND COMMITTED
BOARD OF
DIRECTORS
JEAN-CHARLES NAOURI
—
Chairman and Chief Executive Officer.
NATHALIE ANDRIEUX
—
Chair and Chief Executive Officer
of Geolid.
Independent Director.
MAUD BAILLY
—
Chief Executive Officer Southern
Europe of the Accor group.
Independent Director.
THIERRY BILLOT
—
Lead Independent Director
of the Bel group and former
member of the executive board
at Pernod Ricard group.
Lead Independent Director.
JOSSELINE DE CLAUSADE
—
Representative of Carpinienne
de Participations.
Advisor to the Chairman of Casino.
BÉATRICE DUMURGIER
—
Senior Advisor for BlackFin Capital
Partners.
Independent Director.
CHRISTIANE FÉRAL-SCHUHL
—
Lawyer/Partner.
Independent Director.
FRANCK-PHILIPPE GEORGIN
—
Representative of Matignon Diderot.
General Secretary of Casino Group.
DIDIER LÉVÊQUE
—
Representative of Finatis.
Corporate Secretary of Euris
and Chairman and Chief
Executive Officer of Finatis.
ODILE MURACCIOLE
—
Representative of Euris.
Manager of Legal Affairs at Euris.
THOMAS PIQUEMAL
—
Representative of Fimalac.
Deputy Chief Executive Officer of Fimalac.
DAVID DE ROTHSCHILD
—
Chairman of the Supervisory Board
of Rothschild & Co.
FRÉDÉRIC SAINT-GEOURS
—
Former Chairman of the Supervisory Board
of SNCF.
MICHEL SAVART
—
Representative of Foncière Euris.
Advisor to the Chairman of Rallye-Casino
and Chairman and Chief Executive Officer
of Foncière Euris.
KAREEN CEINTRE
—
Secretary of the Board of Directors.
(1) Re-election subject to shareholder approval at the Annual General Meeting on 10 May 2022.
16 — 17
DIRECTORS
14
INDEPENDENT
DIRECTORS
36%
WOMEN
43%
COMMITTEE CHAIRED
BY A WOMAN
1
Robust corporate governance
The Board of Directors stands out for the diversity of its members’
backgrounds, skills and experience, which are aligned with the Group’s
businesses and growth strategy. The membership is also gender balanced
and comprises a number of highly engaged independent directors,
including the Lead Director. Casino Group is committed to complying
with the recommendations of the Afep-Medef Code. In 2021, the
Board was highly active in handling the Covid-19 health crisis.
Regular presentations were made to the Board regarding business
developments and all of the measures deployed by Group Senior
Management and the banners to support stakeholders. The Board
reviewed and monitored the deployment of strategic priorities, the debt
reduction and asset disposal plan, in line with the objective of creating
value and the development of sustainable growth.
A commitment to social responsibility
The Audit Committee assists the Board of Directors in defining and
monitoring the execution of its strategic orientations. In line with the
Group’s sustainable growth strategy, the Board’s Governance and Social
Responsibility Committee
its ethics,
environmental, social and governance commitments and policies. The
Board also specifically tasked the Committee with protecting Casino’s
corporate interests and managing potential conflicts of interest in
connection with the safeguard proceedings initiated at the level of the
Group’s parent companies.
is tasked with examining
Three specialised Committees
>> Audit Committee
>> Appointments and Compensation Committee
>> Governance and Social Responsibility Committee
BOARD
MEETINGS
11
ATTENDANCE
AT BOARD
MEETINGS
96%
BOARD
COMMITTEES
MEETINGS
25
ATTENDANCE
AT COMMITTEES
MEETINGS
98%
CASINO GROUP — 2021 ANNUAL REPORT CSR PROGRAMME
18 — 19
BETTER
CONSUMPTION,
BETTER EATING,
BETTER
PRODUCTION
Recognised performance
Casino Group has clearly steered its growth towards a sustainable retail model, as its ESG
ratings attest: Moody’s ESG Solutions ranked the Group first out of 19 European retailers
evaluated for their CSR policy, with a score of 74/100. The Group and its banners also received
numerous awards this year, with five Essec prizes for responsible retail in early 2022 and four
prizes at the LSA La Conso S’Engage awards for responsible consumption in 2021. In addition,
GPA kept its place in the Brazilian ISE B3 sustainability index, while Naturalia demonstrated
its leadership by becoming the first French retail banner to obtain B Corp certification.
Offering healthy and sustainable food
The Group has continued to roll out its commitments to creating a more sustainable retail
environment within each of its banners. It is developing an extensive range of agroecological
products with more than 2,800 private-label organic food products, twice as many as in
2015, and now more than 250 Naturalia stores. At the same time, banners are developing
their offering of alternatives to animal protein. A wide range of private-label Casino Veggie
and Monoprix Vegg products has been rolled out, as well as the first 100% plant protein
corners in Casino stores. In terms of nutrition, the Nutri-Score label is already calculated for
100% of Casino products.
Concrete climate results
The Group also committed, as far back as 2015, to reducing Scope 1 and 2 greenhouse gas
emissions from its operations by 18% by 2025. It has already met this target, with a 20%
reduction in emissions. Now an expert in energy efficiency and solar energy output, the
Group continues to develop solar power on roofs and solar canopies in car parks, with 153 solar
power plants active in 2021. Buoyed by the good performance of its banners, Casino Group
has now set itself an even more ambitious carbon emissions reduction target, aiming for a
38% decrease by 2030, compared to 2015.
Improving production conditions
The Group supports key initiatives and certifications aimed at improving the conditions under
which raw materials are produced. In 2021, for example, it supported the French Sustainable
Cocoa Initiative, following its commitment to the French Manifesto to Counter Soy-related
Imported Deforestation. 100% of the palm oil used in the Group’s private-label food products
in France is RSPO-certified to the most rigorous levels. It also continues to take action to
protect forests and biodiversity in Brazil by monitoring 100% of the private-label and nation-
al-brand producers that supply its Assaí and GPA banners. To this end, it cooperates with all
players in the field, in particular the Imaflora association, and co-chairs the working group
on cattle farming established by the Forest Positive Coalition of the Consumer Good Forum.
PRIORITY AREAS OF THE CONTINUOUS
IMPROVEMENT PROGRAMME
—
—
—
COMMITTED
EMPLOYER
• Promote diversity
• Help young people
enter the workforce
• Provide growth
opportunities for
employees
• Take action to protect
employee health
and well-being
RESPONSIBLE RETAILER
• Take action to protect
consumer health
• Encourage consumption
that is respectful
of the environment
and biodiversity
• Combat food waste
TRUSTED
PARTNER
• Strengthen ethical
social compliance
• Support local
production channels
• Promote the CSR
initiatives of suppliers
—
LOCAL CORPORATE
CITIZEN
• Develop foundation
programmes
• Develop solidarity
partnerships
—
ENVIRONMENTALLY
PROACTIVE,
CLIMATE-AWARE GROUP
• Reduce greenhouse
gas emissions
• Increase energy efficiency
• Reduce and recover waste
MOODY’S
ESG SOLUTIONS
RATING
74/100
CASINO GROUP — 2021 ANNUAL REPORT
HR POLICY
20 — 21
CARING PRACTICES
AND EQUAL
OPPORTUNITY
Promoting caring management practices
Since the start of the pandemic, Casino Group has been working even harder to keep staff
motivated and improve well-being at work. The caring management approach launched in
2014 continued, with online training and conferences attended by more than 600 partici-
pants. More than 7,300 managers, including senior management, have already learnt about
the approach, and a network of more than 1,000 caring leaders has been formed. Eight caring
management principles have been included in the management training and new employee
integration courses. Lastly, more than 70 Group managers have taken the caring management
practices module in the Trade and Retail masters’ programme since it was created at the
University of Saint-Étienne.
Diversity, a driver for growth
Among the Group’s banners, Monoprix and Casino have received Top Employer certification
and Cdiscount has been named a Great Place to Work, in recognition of their strong
commitment to fighting all forms of discrimination and promoting diversity.
Casino Group leads a proactive policy designed to encourage the hiring of applicants from
a wide range of backgrounds at every level and to create the right conditions for social
cohesion. The Group was the first retailer to obtain the dual accreditation of Diversity and
Workplace Equality Labels, which were both renewed in 2019. Since 1995, it has been
committed to the employment of people with disabilities in France and Latin America, and
has increased the number of workers with disabilities in its workforce by 35% since 2015.
Advancing gender equality
As a result of the Group’s efforts to ensure professional equality, women represent 41% of
managers at Group level and 43.4% in France. The Equality Index remained unchanged at
91/100 for France overall and reached 99/100 for Monoprix. In Brazil, GPA is now included
in the Bloomberg Gender Equality Index.
The Group continues to innovate by taking action to combat domestic violence, and in par-
ticular, published a domestic violence awareness guidebook for all employees. The resource
includes testimonials, contacts and practical information to provide guidance for anyone
who has witnessed or themselves been a victim of domestic violence, to encourage them to
speak out and access help. The Group also renewed its support for the nationwide campaign
initiated by the French government in 2020 and the national emergency hotline (3919).
Teams that give back to the community
The Group’s employees take part in numerous outreach initiatives year-round. In 2021, the
banners supported the Institut Gustave Roussy, raising €390,000 to fund medical research
to help cure childhood cancer in the 21st century. At the same time, Monoprix pressed ahead
with its initiatives to fight breast cancer. More than 4,000 of the Group’s stores take part
each year in the “Tous en Scène” operation to raise funds for the Apprentis d’Auteuil and
L’Envol associations. The Group also gives back to its communities on a day-to-day basis,
with donations to food banks and annual food collection campaigns in France and Latin
America. Once again this year, Grupo Éxito contributed 1,430 tonnes of goods to local
food banks.
FOUNDATIONS DEDICATED
TO SUPPORTING CHILDREN
Thanks to the outreach initiatives organised
by the Group’s corporate foundations, more
than 100,000 people in France and Latin
America receive support each year. With
more than ten years’ experience in education
through theatre, the Casino Group Foundation
supported around 50 theatre projects in 2021,
giving more than 4,000 children and teenagers
the chance to discover art and culture. The
Monoprix Foundation works to combat social
exclusion, particularly by working with young
people in vulnerable situations. Grupo Éxito
and its Fundación Éxito foundation have
raised the equivalent of €470,000 through
a series of in-store outreach initiatives in close
collaboration with its 180 suppliers, benefiting
26,000 Colombian children.
CASINO GROUP — 2021 ANNUAL REPORT OUR
RESPONSES
TO THE 12 PRESSING ISSUES FOR THE FUTURE OF RETAILING
P. 24
HOW FAR CAN
FOOD
E-COMMERCE
GO?
P. 28
HOW CAN
RETAIL BANNERS
BUILD CUSTOMER
LOYALTY?
P. 32
CAN
E-COMMERCE
DRIVE GROWTH
THAT IS BOTH
PROFITABLE AND
SUSTAINABLE?
P. 36
HOW DOES
RETAIL FIT IN
TO THE GLOBAL
TECHNOLOGY
ECOSYSTEM?
P. 40
WHAT ROLE
WILL PHYSICAL
STORES PLAY
IN THE FUTURE?
P. 44
HOW CAN THE
RETAIL SECTOR
FEED THE
PLANET WITHOUT
DEPLETING
ITS RESOURCES?
P. 60
WILL TECHNOLOGY
REPLACE THE
NEED FOR HUMAN
CONNECTION?
P. 48
P. 64
DOES URBAN
CONVENIENCE
RETAIL CONSTANTLY
HAVE TO BE
REINVENTED?
WHAT HAS MADE
THE SHIFT TO
OMNICHANNEL
RETAIL SO
SUCCESSFUL IN
COLOMBIA?
P. 52
P. 68
WHAT MAKES
CASH & CARRY
SO SUCCESSFUL
IN BRAZIL?
IN WHAT WAY
ARE DATA AND AI
KEY TO THE
FUTURE OF RETAIL?
P. 56
HOW CAN
LARGE-SCALE
RETAILING DOVETAIL
WITH SHORT
SUPPLY CHAINS?
FOOD E-COMMERCE
CASINO GROUP — 2021 ANNUAL REPORT
24 — 25
In the digital
ecosystem, it’s not
the big that eat
the small, it’s the fast
that eat the slow.”
HOW FAR
CAN FOOD
E-COMMERCE
GO?
Ferdinand Tomarchio,
Casino Group Chief Digital Officer
Will the e-commerce revolution disrupt food retailing
just as it has non-food retailing?
Actually, the transition is going to happen even faster.
F.T.
People are now used to digital shopping and no longer have any
qualms about online payments. Consumers are now technologically
mature enough to embrace the buying of groceries online. But the
comparison with non-food only goes so far, because food retailing
demands total control over the fresh produce sourcing and supply
chains, which are much more complex. This gives incumbents
a competitive advantage, especially when their geographic
coverage is dense. It’s no coincidence that Amazon, Ocado and
Gorillas chose Casino Group to develop their business in France.
In France, did the health crisis drive a faster shift online?
Before the pandemic, France was already one of the
F.T.
world’s most highly developed online grocery markets. But with
one particular feature: since the early 2000s, the shift to digital
retailing has taken a hybrid route, with drive-through collection
accounting for 90% of online sales.
The health crisis spurred new growth in online grocery shopping,
which has risen from 6% to 9% of all food sales in France. Home
delivery has also exploded and a new business has emerged –
namely, quick commerce – which already accounts for nearly 5%
of online food sales.
Casino Group rapidly leveraged its city centre locations and mature
digital capabilities to establish its position in the home delivery
market. It’s because we had already signed the agreement in
November 2017 to build an automated warehouse using Ocado
technologies that we were able to deliver Monoprix Plus orders
during the first days of lockdown, in March 2020.
Can France follow the same trend as South Korea,
where e-commerce already represents a quarter of the grocery
market?
I’m convinced that online food sales are going to grow
F.T.
well beyond that figure, for the simple reason that the boundary
between physical and digital retail is becoming more porous, with
technologies and practices constantly blurring the lines between
the two. The very idea of calculating e-commerce’s share of the
total food market will no longer make any sense. If a customer
orders a cheeseburger from a fast-food restaurant using an app
and goes to pick it up, does that count as e-commerce? What if
they order using a touch screen inside the restaurant? Digital
technology is completely upending the food retailing model, and
tomorrow, the emergence of new channels and new technologies
will again reshape everything.
SHARE OF TOTAL
GROCERIES PURCHASED
ONLINE IN FRANCE
8.9%
6.1%
2018
2021
SHARE OF FRENCH PEOPLE
ALREADY HAVING SHOPPED
FOR GROCERIES ONLINE
37%
FOOD E-COMMERCE
HOW FAR
CAN FOOD
E-COMMERCE
GO?
ONLINE
FOOD SALES*
+15%
* 2021 growth in Group sales in France.
So what is the role of innovation in the rise of e-commerce?
In the digital ecosystem, it’s not the big that eat the small,
F.T.
it’s the fast that eat the slow. To stay at the cutting edge of inno-
vation, you have to test, test, test, and know how to move on
quickly when something doesn’t work. This is a “try fast, fail fast”
mentality, which requires a large amount of humility. As an example,
Monoprix’s launch of a service to shop using Alexa voice commands
didn’t lead to a huge rise in orders, but what we learned helped us
to improve the monoprix.fr customer experience.
Today, our customers can shop on WhatsApp, Leader Price offers
a gaming experience in the metaverse, Monoprix is exploring NFTs
and La Nouvelle Cave has launched a 3D-rendered virtual store.
Staying agile makes sure that we never miss out on an online food
retailing trend that could quickly build into a groundswell.
Are there still obstacles holding back growth?
Yes, the main obstacle is a poor understanding of the model.
F.T.
Physical grocery stores are equivalent to very well organised, hands-on
warehouses, where the customer is responsible for preparing their
order and getting it home. In online food sales, the merchant
reduces the cost of the retail space, but takes on the cost of order
preparation and delivery.
As a result, when customers compare the price they pay in the
store with the price of the same groceries delivered to their home,
they wrongly assume that the time spent shopping is worthless.
It’s a cultural issue – in France, restaurant menu prices already
include a 15% service charge, for example, whereas customers are
expected to leave a significant tip in the United States.
What’s the solution?
For customers to realise the service’s true value, we have
F.T.
to offer them very high-quality services, including a wide range of
choice, end-to-end order fulfilment, clearly announced delivery
slots, and a customer friendly deliverer. This is what the Group
provides with the O’Logistique automated warehouse and its
450 deliverers. This is something that people in Île-de-France
have understood very well, since more than a quarter of home
deliveries in the region now go through our banners.
Food e-commerce is still perceived as a threat to
brick-and-mortar stores. Is this true?
E-commerce isn’t taking any value away from banners.
F.T.
Every study shows that an omnichannel customer creates more
value than a customer who shops at only one store. Casino Group’s
role is to respond proactively to this profound paradigm shift and
to align all its businesses with these new ways of shopping.
Because the transformation is well underway, and shoppers aren’t
looking back. If your customers don’t start buying food online
through your banners, then they’ll do it through your competitors.
We all need to keep that at the forefront of our minds.
26 — 27
HIGH-
LIGHTS
Grand slam at the LSA 100%
Omnichannel Awards
French retail industry magazine LSA
presented O’Logistique with the
“Omnichannel Logistics” Award for its
food e-commerce system deployed
across Île-de-France, honoured Franprix
for its phygital strategy, and elected
Diane Coliche, Executive Director
of Monoprix, “E-Commerce Person
of the Year.”
Le Club Leader Price,
a digital technology laboratory
After launching its recurring delivery
subscription service, Le Club Leader Price
is continuing to explore new digital
services for its customers. The first French
retailer to support placing orders on
WhatsApp and Instagram via a chatbot,
Le Club Leader Price is taking its first
steps in the metaverse by offering customers
a gaming experience on virtual plots
acquired in The Sandbox metaverse.
casino.fr voted “best customer
service 2022”
Created as a single point of entry for all
the Casino banners, casino.fr is designed
to make online grocery shopping easy
for everyone with a full range of logistical
solutions, including click & collect, home
delivery, and the Casino Plus next-day
delivery service offered by O’Logistique in
Île-de-France. Being voted “best customer
service of the year” in online food sales
was a compelling expression of confidence
in the site.
STORES FULFILLING
MONOP’HOP EXPRESS
DELIVERIES
180
CASINO GROUP — 2021 ANNUAL REPORT CUSTOMER LOYALTY
CASINO GROUP — 2021 ANNUAL REPORT
28 — 29
HOW CAN RETAIL
BANNERS BUILD
CUSTOMER LOYALTY?
Tina Schuler,
Chief Executive Officer,
of Casino Banners
Why has customer satisfaction become such a critical
issue for retailers?
It has to be said that before the development of e-com-
T.S.
merce, it was often the customer who had to adapt to the banners.
Online sales have pretty much put paid to that paradigm. Today’s
customers are spoilt for choice. They’re overwhelmed with offers
from every side and they constantly switch between physical
stores and online shopping. Attracting them, and more impor-
tantly, retaining them is the challenge we face every day in our
business. That’s why for the past three years we’ve been letting
customers know that they are the core focus of our organisation
with the tagline: “Our priority is you.” That’s our constant focus,
morning, noon and night. Today, the real boss is the customer.
If customers hold the power, how do you retain their business?
Building customer loyalty starts with understanding their
T.S.
expectations. The health crisis brought to the forefront a number
of deep underlying trends, such as the desire to eat well, to treat
ourselves, and to eat locally sourced, healthy food. But the pandemic
has also awakened fears of scarcity and tightened budgets, shift-
ing shoppers’ minds to prices and the cost of living. At the same
time, the lockdowns drove a faster shift to online shopping. Social
media took on new importance, sparking exponential growth in social
selling, live shopping events, gaming and omnichannel offers.
What can we do to meet these new expectations?
I believe that, before anything else, we have to get back
T.S.
to the basics of our business: store cleanliness and organisation,
product availability, checkout times and, of course, our offering.
Eliminating shopping irritants and selling quality products are the
fundamentals of retailing. Technological innovation can provide
powerful assistance in both of these areas. We’re using AI to help
employees keep the store looking sharp. Thanks to Belive.ai’s
smart cameras, we’ve cut shelf stock-outs by half and can easily
detect missing price labels, while the DLC Memo system helps us
to manage products nearing their sell-by dates. On the critical
issue of checkout wait-times, we were the first to deploy digital
payment solutions widely and autonomous stores, which enabled
us to extend our opening hours. And now we’re working on other
innovations to track store cleanliness, or even guarantee the fresh-
ness of fruit and vegetables.
Speaking of product quality, how can we make a difference?
Eating well is a major aspiration. In response, we’re doubling
T.S.
the number of fruit and vegetable shelves in our stores, continuing
to offer excellent pastries, expanding our seafood partnership with
CASINO
AUTONOMOUS
STORES
640
CASINO MAX
SUBSCRIBERS
190,000
Retail is a living,
breathing organism.
The challenge in retaining
customers is constantly
to know what they want,
and to keep reinventing
ourselves.”
CUSTOMER LOYALTY
HOW CAN RETAIL
BANNERS BUILD
CUSTOMER LOYALTY?
AVERAGE
SUBSCRIBER
BASKET
x 3
CONVENIENCE
STORES
5,700
fish markets and, of course, stocking local products. In France, our
private-label Casino brand is grounded in an unrivalled tradition of
high standards and strong commitments. That’s the spirit behind our
Casino Acting for the Planet programme (CAP), which is engaging
all of us. Our credibility is underpinned by how we “walk the walk.”
That’s why we’re partnering with well-known personalities such as
Mauro Colagreco, a three Michelin-star chef voted best chef in the
world, who cares deeply about seasonal tastes and ingredients.
And we’re also proud to be represented by the greatest rugby
player in the world, Antoine Dupont, who shares our values of
sports and wellness. Working closely with renowned ambassadors
is a way to attract and retain customers and heighten awareness
of what we’re doing.
You mentioned the cost of living. Isn’t pricing an effective
way to retain customers?
Of course, and we’re considerably increasing the shelf space
T.S.
allocated to Leader Price discount products and value-priced
sections. We also offer loyal customers a variety of personalised
promotions. In our mobile app, the Casino Max subscription offers
shoppers a 10% discount on everything in store for just €10 a
month (or €7.50 if they sign up for 12 months). This can make a
real difference to a family’s budget. In the same way, our €0.85 a
litre fuel promotions enable shoppers to use the difference with
the actual fuel price as a voucher for in-store purchases.
By offering customers an increasing array of shopping
channels, don’t retailers run the risk of making them even less loyal?
It’s actually the opposite – an omnichannel offering enhances
T.S.
loyalty. Our customers who shop both off and online purchase
three times as much as others. Our omnichannel strategy focuses
on offering a myriad of touchpoints for a seamless shopping
experience. We’re present wherever our customers are, on the
Internet of course, but also on WhatsApp. And we’re developing
new formats like live shopping. The challenge is to meet every
customer need, from a full week’s worth of groceries to last-min-
ute necessities. This means offering subscriptions for staples,
training our dedicated in-store teams, and leveraging the power of
our unrivalled France-wide coverage in France to deploy quick
commerce delivery services. We’re fortunate to already have
5,000 dark stores, in the form of our convenience store network.
And what are the customer loyalty challenges of tomorrow?
The same as today’s! Because once you’ve grasped the
T.S.
latest trends and implemented your action plans, you must keep
reinventing yourself, over and over again. Retail is a living, breath-
ing organism. That’s why we’re constantly listening to our custom-
ers, so that we always understand what they really want. For
example, we carefully track our NPSs, which enable store manag-
ers to respond to customer comments and feedback. But we’re
also fostering continuous dialogue, from WhatsApp grocery
orders and the texts that customers can send when the checkout
line is too long, to the emails they can send directly to Executive
Committee members thanks to the addresses listed on our website.
I believe that this direct communication, once again, demonstrates
to customers that they are our number one priority.
30 — 31
HIGH-
LIGHTS
Enhancing customer
relationships with
the Casino Max app
By nurturing direct relationships, the
Casino Max app enables the Casino
banners to offer every shopper the right
solution to his or her daily needs. They
were the first retailers in France to offer
a subscription-based 10% discount
on everything in the store. Moreover, in
response to the energy crisis, Casino Max
users can purchase fuel for €0.85 a litre,
with the difference with the actual fuel
price credited on an in-app voucher.
Antoine Dupont defends the
colours of the Casino brand
Antoine Dupont, who has been named
the world’s best rugby player and recently
led the French team to victory at the
Six Nations Championship, has become
the new Casino brand ambassador.
For the next three years, he will express
his and the brand’s shared commitment
to promoting teamwork, striving for
excellence and encouraging a healthy,
balanced diet.
With Mauro Colagreco,
Casino rediscovers
“the true taste of each season”
The Casino banners have partnered with
the three Michelin-starred chef Mauro
Colagreco to encourage people in France
to shop more responsibly. The partners
have designed a programme that will
expand the banners’ range of products
developed by expert producers who work
in harmony with the planet and the cycles
of nature.
SHARE OF SALES
FROM THE
CASINO MAX APP
26%
CASINO GROUP — 2021 ANNUAL REPORT E-COMMERCE
32 — 33
CAN E-COMMERCE
DRIVE GROWTH THAT
IS BOTH PROFITABLE
AND SUSTAINABLE?
Emmanuel Grenier,
Chairman and Chief Executive
Officer of Cdiscount
Online shopping’s growth seems limitless. What are the
most pressing challenges we need to address?
It’s true that e-commerce is extremely effective at the
E.G.
four fundamentals of retailing. That is, on the internet, shoppers can
find the lowest possible prices, an infinite choice of products,
hyper-personalisation and receive ultra fast delivery. Today, many
retailers are able to offer these. DIY sites carry hundreds of thou-
sands of products in each category. Start-ups are offering highly
advanced solutions to personalise the customer experience. Quick
commerce disruptors promise delivery in ten minutes. But to suc-
ceed in a competitive ecosystem comprising 200,000 e-commerce
sites in France, you must demonstrate powerful capabilities in as
many of these four fundamentals as possible.
How do you do that?
E.G. What these four factors have in common is technology –
and this is what underpins our performance. You can’t have millions
of products on offer if you don’t have a powerful search engine to
help shoppers find the right one. In the same way, there are no low
prices without pricing tools, no personalisation without browsing
data analytics, and no express delivery without route optimisation
algorithms. The leading global e-tailers tick all these boxes.
Does Cdiscount’s model enable it to compete with these
global players?
Over the course of its history, Cdiscount has successively
E.G.
deployed three business models. The early site was an online store,
with tens of thousands of SKUs, which ticked the first box: offer
the lowest prices. With the creation of its marketplace, Cdiscount
became an online platform connecting customers and merchants,
which enabled it to multiply its offering a thousand-fold and
become the French e-commerce champion. Today, our investments
into logistics and technology have lifted us into a new model.
Cdiscount is transforming itself into a technology company that sells
products to B2C customers and services to B2B customers. The
assets we’ve built up over the past 15 years – our traffic, our logistical
capabilities and our technologies – are of considerable value.
Profitability is a critical issue in e-commerce. How does
an online retailer make a profit?
In fact, profitability comes from this technology platform
E.G.
business model. On the B2C side, Cdiscount offers its market-
place merchants access to its consumer traffic, in exchange for a
12% to 13% commission, while its Cdiscount Advertising business
offers suppliers and vendors digital marketing solutions to promote
their products. The B2B operations enable us to monetise our
VENDORS ON
THE CDISCOUNT
MARKETPLACE
15,000
BUSINESS VOLUME
FULFILLED ON
THE MARKETPLACE
44%
The assets we’ve
built up over the past
15 years – our traffic,
our logistical capabilities
and our technologies –
are of considerable
value.”
CASINO GROUP — 2021 ANNUAL REPORT
E-COMMERCE
34 — 35
TRUCKS
ON THE ROAD
-40%
GROWTH IN
OCTOPIA SALES
IN 2021
+26%
CAN E-COMMERCE
DRIVE GROWTH THAT
IS BOTH PROFITABLE
AND SUSTAINABLE?
technological and logistical assets and to further improve our
performance. When Octopia sells its marketplace solutions
to other retailers, it attracts new merchants, which benefits
Cdiscount. When C-Logistics sells its logistics services, volume
increases and Cdiscount benefits from economies of scale. It really
is a self-fulfilling cycle.
How can you reduce your environmental impact?
As our volumes ramped up, we have decided to respond
E.G.
proactively to mitigate the impact. Our priority has been to focus
on logistics, where we’ve reduced the amount of empty space in
boxes and optimised truck loads and rounds, to make fewer trips,
thereby lowering our carbon emissions. With 3D-printed packag-
ing and bulk loading for certain shipments, Cdiscount has almost
halved the number of its trucks on the road. We are also taking
steps to reduce the environmental impact of our merchandise.
Firstly, when products are returned, they are repaired and resold
by social enterprises, or else sent to recycling companies. Over
the past 15 years, no product has ever been scrapped at Cdiscount.
Secondly, previously owned items already represent a significant
proportion of the products on offer on the website. And now we
are moving up a gear, with a commitment to making manufacturers
disclose the environmental footprint of their products. In this way,
we’ll be able to inform customers so that, like price and delivery
times, a product’s environmental impact will become a real factor
in the purchasing decision.
Is it possible to manage the energy footprint of a digital
business?
The impact of IT is a major issue in operational excellence,
E.G.
which we are addressing very assertively. A well-designed pro-
gramme uses 10 to 100 times less energy. It’s like a car engine.
We’re talking here about the critical issue of skills, and about
hiring the best people and training employees to improve our
software architecture. This is one of the reasons why our tech
teams are constantly expanding, to the point that they now
account for a third of Cdiscount’s workforce.
More ambitiously, how do you build a responsible growth
model?
Cdiscount’s digital capabilities are responsible and inclu-
E.G.
sive in more ways than one. We believe that the people who are
driving technology forward in France should look like French soci-
ety as a whole. This is why gender and other forms of diversity are
a priority in our hiring and talent management processes. Being
inclusive also means sharing the value we create. We’re bringing
on board the entire economic ecosystem, with retailers and
French SMEs, to enable them to leverage our technological invest-
ments and capture the growth in online sales. We also work very
closely with Made in France certified producers. Our marketplace
enables them to continue serving customers who move online,
and also to extend their catchment area to all of France, and soon,
through Octopia’s partnerships with new retailers, to Europe and
the world. We only get paid once they have sold something. It is a
fundamentally sound ecosystem.
HIGH-
LIGHTS
Already 13 customer
companies for Octopia
Octopia’s marketplace-as-a-service
solutions have been embraced by
13 customer companies, including Rakuten
France, which now has access to the
platform’s 15,000 French and international
vendors. In addition, Octopia’s turnkey
solutions have been integrated into the
Ocado Smart Platform suite of worldwide
online retailer services.
Ranked 6th among Diversity
Leaders in the European
retailing industry
For the third year in a row, Cdiscount’s
initiatives to strengthen gender and other
forms of diversity in e-commerce jobs
earned it a top spot in the prestigious
Financial Times ranking of European
Diversity Leaders. France’s e-commerce
champion placed fourth among French
companies and sixth among European
retailers.
Cdiscount introduces Hipli
reusable shipping envelopes
After a series of successful trials with
several thousand employees and customers,
Cdiscount is now leading the wide-scale
roll-out of the reusable shipping envelopes
developed by French start-up Hipli. Once
received, the envelopes can be mailed back
to Cdiscount free of charge. They can then
be reused up to 100 times, helping to reduce
the environmental impact of parcels and
packaging.
PARCELS DELIVERED
VIA AGRIKOLIS FARM
PICK-UP POINTS IN 2021
320,000
CASINO GROUP — 2021 ANNUAL REPORT PARTNERSHIPS
36 — 37
Positioned between
the tech giants and
smaller niche players,
the Group is able
to cooperate with both,
sometimes by acting
as a go-between.”
HOW DOES RETAIL
FIT IN TO THE
GLOBAL TECHNOLOGY
ECOSYSTEM?
Hervé Daudin,
Casino Group Merchandise Director
One of Casino Group’s distinguishing features is its exten-
sive collaboration with global technology leaders, some of
which are also competitors. This kind of open model is still very
disruptive in the retail industry. How does it work?
The coopetition model is defined by the ability to coop-
H.D.
erate with competitors – who are potentially larger or more
widely established than Casino Group. That’s what makes it so
challenging. For us, the tipping point came in 2018. Realising how
shopper expectations were changing, the Group decided to
ratchet up its transformation and forge alliances with the most
successful online grocery global retailers to save time on research
and development.
Since then, we’ve learned a lot from working with Amazon, the
world’s largest logistics company, and with Ocado, the world’s
largest dedicated online grocery retailer. So much so that in just
three years, our banners have successfully built solid market
leadership by becoming number one in grocery home delivery
services in Greater Paris.
Why do you think Amazon, Ocado and more recently
Google have chosen to work with Casino Group?
On top of the reputation of our banners, it seems to me
H.D.
that what made the difference was our culture of innovation, which
has been embedded in the Group’s DNA since its inception. Our
teams are highly agile and open to change. That gives them speed
of execution, which offers a considerable advantage in a business
that’s directly impacted by fast-changing consumer expectations.
We know how to take the initiative, move projects forward, deliver
real-world results and meet deadlines. So things went smoothly
with these big tech players; we managed to speak the same
language.
Is that what happened with Amazon?
Exactly. For its express grocery delivery service, Amazon
H.D.
was confident that Monoprix products would appeal to its cus-
tomers. And we were convinced that the new channel wouldn’t
cannibalise store sales, but rather that it would attract new shopper
profiles. The partnership started with a few thousand SKUs availa-
ble on Prime Now and then expanded with in-store lockers and
now click & collect in Casino stores.
This is what I call the candy-floss mechanism: the sugar gradually
wraps itself around the cone. The contracts are being broadened
year after year, because we’ve demonstrated our efficiency and
won the trust of our partners.
AMAZON PRIME
NOW ORDERS FULFILLED
BY THE GROUP
100%
CASINO GROUP — 2021 ANNUAL REPORT PARTNERSHIPS
38 — 39
HOW DOES RETAIL
FIT IN TO THE
GLOBAL TECHNOLOGY
ECOSYSTEM?
Are the partnerships also expanding because both parties
have something to gain?
Yes, and not just financially. As I said, we’ve learnt a lot
H.D.
from our partners, but we’re also sharing our expertise. One example,
again with Amazon, is the project with GreenYellow. It supplies
green electricity to three data centres run by Amazon’s subsidiary
AWS, which has become our partner in cloud-based operations.
Then there’s Ocado. The success of its automated picking system
deployed at the Fleury-Mérogis warehouse to serve our customers
in Île-de-France prompted us to take our collaboration to the next
level, by setting up a joint venture to market the online grocery
solution to other French retailers. At the same time, Ocado has
included the marketplace-as-a-service solution developed by
Cdiscount subsidiary Octopia in its international retail services
suite. It really is a virtuous cycle.
How does Casino Group’s open model, which acts as an
innovation accelerator, also encourage collaboration with the
start-up ecosystem?
Like any ecosystem, ours becomes more effective as it
H.D.
gains diversity. Between the tech giants and the small niche players,
we’re mid-way on the evolutionary scale. Our strength lies in our
ability to cooperate with both ends, sometimes by acting as a
go-between. This is what we’re trying to do when helping new
entrants expand in France, with, for example, Gorillas or Everli in
online grocery retailing. We’re also working with start-ups identified
early on by the banners, which offer them their first contracts and
help them scale up their solutions. In warehouse automation, for
example, Cdiscount was quick to recognise the potential of Exotec,
which has now become one of the French unicorns.
One last point. How does your alliance with Intermarché
fit into this ecosystem?
The new alliance, formed in 2021, initially concerned
H.D.
purchasing and joint negotiations with large international suppliers
of food and non-food merchandise. Very quickly, however, we
decided to add a more technological component by setting up a
joint venture, Infinity Advertising, that markets retail media services
to suppliers, based on technologies developed by relevanC. This is
a very concrete illustration of how we deploy our expertise, lever-
age our large customer base and monetise it in a B2B process.
INFINITY ADVERTISING
CUSTOMER BASE
17m
HIGH-
LIGHTS
Expansion of the Ocado
partnership
Building on their successful collaboration,
the Group and the UK pure-player in food
delivery have strengthened their alliance
through the creation of a joint venture that
will offer their expertise to food retailers
in the French market. The agreement also
provides for Ocado’s in-store fulfilment
solution to be rolled out in Monoprix stores.
Exclusive agreement signed
with Gorillas
The agreement gives the German start-up
and European quick commerce leader
access to Monoprix private-label and
national-brand products, with ten-minute
delivery offered in Paris, Lille, Bordeaux,
Lyon and Nice. Gorillas will also prepare
and deliver customer orders placed through
the Monoprix and Franprix websites and
apps. Casino Group is associated with
value creation through a stake in Gorillas
and its French subsidiary.
Stepped-up collaboration
with Amazon
The Group is extending its partnership
with the Seattle-based giant, whose
subsidiary Amazon Web Services (AWS)
has chosen GreenYellow to supply
photovoltaic energy to three of its large
French data centres. GreenYellow will
build a new solar farm in Occitania in
southern France that will produce several
dozen MWh of green electricity by 2025.
At the same time, the Group will use
the AWS Cloud to accelerate its digital
transformation.
COUNTRIES WHERE
GREENYELLOW AND SCHNEIDER
ELECTRIC ARE BUSINESS PARTNERS
16
CASINO GROUP — 2021 ANNUAL REPORT STORES OF TOMORROW
40 — 41
WHAT ROLE
WILL PHYSICAL
STORES PLAY
IN THE FUTURE?
Diane Coliche,
Executive Director of Monoprix
How is the development of digital helping to redefine
consumer habits?
It’s much more than just changes in consumer habits.
D.C.
We’re in the midst of a digital revolution that is bringing about a
profound change in society. I’m not just talking about the percent-
age of online sales. When Facebook changed its name to Meta,
which in ancient Greek means “beyond”, it promised to build a
virtual universe that overlaps with real life. The GAFAs have
unleashed a dynamic that is tipping us into a world where social
ties are revolutionised, largely due to algorithms. It’s also a world
in which 20% of the French population remains excluded by a
“digital wall”. I firmly believe that retail has a role to play in building
a model that’s omnichannel, but also inclusive, giving as many
people as possible access to new technologies.
But the shift in consumer behaviour isn’t all down to digital. It’s
also being driven by the emergence of two trends: alternative
consumption and minimal consumption. People are looking to
consume differently – more local, more plant-based, more ethical,
and so on. At the same time, they are buying less, opting for the
circular economy, choosing access over ownership – either out of
conviction or economic necessity.
So is it Monoprix’s goal to be omnichannel and inclusive
at the same time?
Exactly, Monoprix is moving towards a model that features
D.C.
the best of digital commerce and physical retail. We have taken
the lead in online grocery shopping by developing high-perfor-
mance services that cater to the full range of customer needs,
thanks to technology partnerships with major players like Amazon,
Ocado and Gorillas. As a result, Monoprix now accounts for nearly
a quarter of total online food sales in Île-de-France.
At the same time, our stores have become more than just a place
to shop. They have become spaces for gathering and hanging out,
for fostering urban social cohesion. Quick commerce players are
on the rise, buoyed by the promise of immediate, ten-minute
delivery. In my opinion, the future of physical retail lies in the
opposite direction, by encouraging customers to take their time and
enjoy going slowly. The more digital shopping develops, the more
the human factor becomes essential, especially for maintaining
social ties. It’s what I call “bright” retail, as opposed to dark retail.
What do these new-generation stores look like?
They’re all about providing an experience, generating
D.C.
positive emotions and stimulating the senses. The sense of smell
and taste, of course, with live cooking stands and tastings. Sight
and touch, with uniquely arranged apparel, beauty and home
aisles. And hearing too, with “sound showers” in the fitting rooms,
HOME DELIVERY
SALES*
+48%
* 2021 growth in Group food sales in France.
The future
of physical retail lies
in the opposite direction
of digital by encouraging
customers to take
their time and enjoy
going slowly.”
CASINO GROUP — 2021 ANNUAL REPORT STORES OF TOMORROW
WHAT ROLE
WILL PHYSICAL
STORES PLAY
IN THE FUTURE?
“LA STATION”
CORNERS
160
“LA SANTÉ AU QUOTIDIEN”
CORNERS
26
where shoppers can listen to poetry, and public pianos for anyone
to play. They’re also social spaces where people can meet up and
spend time together, thanks to a public area where cultural and
artistic associations, institutions and artisans can greet the public.
I believe in the strength of this human connection, which goes
beyond the simple act of making a purchase, to create a special
customer experience that leads to a strengthened relationship
with Monoprix and its employees.
What direction should products and services be heading?
Again, providing a special experience is the key. You can
D.C.
buy toothpaste and everything for your kitchen cupboards online.
But a website or an app won’t wow you and tantalise your taste
buds in the same way as the central food hall will, with its fantastic
food counters.
We are also offering new services. In the “La Santé au quotidien”
healthcare corner, you can speak to a pharmacist, take an eye
examination or use a remote consultation booth to send your med-
ical data to a doctor. “La Station” is run by enthusiastic employees
who not only sell scooters, new and refurbished bicycles and all
types of green mobility equipment but also carry out repairs.
As well as advances in health and mobility, we are exploring other
possibilities like financial services, cultural spaces and travel. These
developments have an impact on in-store jobs: more services
means more qualified employees with specialised skills. The result
is a shift to higher value-added activities.
Are free services and community spirit important to you?
Yes, we want people to be able to walk into a store without
D.C.
necessarily having a shopping list. Monoprix and monop’ are
located in a dense, hyperconnected urban environment that’s
relatively anonymous, where it’s quite rare for neighbours to get to
know each other or help each other out. Thanks to the “Je m’appelle
reviens” lending service, all you need is a loyalty card to borrow a
drill, a raclette machine, a board game, a karaoke machine, a cargo
bike, an overhead projector, a disco ball or a guitar. And in the near
future, maybe even an electric car.
Our first job as a retailer, clearly, is to satisfy consumer expectations,
but also to position ourselves in areas where customers don’t nec-
essarily expect to find us. Sometimes it’s a matter of meeting a
tiny need: perhaps your building doesn’t have a caretaker and you
don’t know where to leave your keys. Our locker system offers
simple services like these that create a feeling of community. And
just because it doesn’t cost the retailer anything doesn’t mean it’s
not valuable for the customer.
HIGH-
LIGHTS
42 — 43
Design icons from Prisunic
to Monoprix
The history of popular design is being told
at the Musée des Arts Décoratifs in Paris
by two retailers that were once rivals.
The exhibit, entitled “Le design pour tous :
de Prisunic à Monoprix, une aventure
française”, features over 500 everyday
objects, advertising posters and furniture.
A new flagship for Naturalia
Located in the heart of Paris’s Marais
district, Naturalia’s new flagship store
showcases the recently certified B Corp
banner’s values and expertise. It offers fruit
and vegetables produced in France, a wide
choice of package-free products, plant-based
alternatives, scoop-and-weigh items,
a section dedicated to reusable containers,
upcycled furniture and more.
monop’ swings to the rhythm
of the city
Designed to satisfy the expectations
of urban consumers, the new monop’
concept combines the best of Monoprix’s
commitments and expertise in 250 sq.m
of floor space: ultra-fresh products, a
street-food takeaway offer, new scoop-
and-weigh brands, the “Je m’appelle
reviens” service for borrowing household
items, and more. The first store has
opened in the 10th arrondissement of Paris.
DISCOUNT OFFERED BY
THE €10 MONOPFLIX
OMNICHANNEL SUBSCRIPTION
10%
CASINO GROUP — 2021 ANNUAL REPORT SUSTAINABLE DEVELOPMENT
44 — 45
The strength
of food retail is its role
as a bridge between
producer and consumer,
where it can
influence both.”
HOW CAN THE RETAIL
SECTOR FEED THE
PLANET WITHOUT
DEPLETING
ITS RESOURCES?
Matthieu Riché,
Casino Group CSR Director
How is the food retail model, which aims to feed as
many people as possible, compatible with sustainability?
To fully understand today’s issues, we have to look at the
M.R.
history behind food retail. At the end of World War II, there were
around 2.5 billion people in the world, many of whom were suffering
from hunger. The great challenge of the second half of the 20th cen-
tury was to promote human development by feeding the entire
population. The food retail industry developed with the goal of
providing quality food, free from health risks, to as many people
as possible.
Today the world population stands at 7.7 billion, and 850 million
people are still hungry. Although this is still far too many, together
we have succeeded – thanks in part to food retail – in bringing a
diversified diet to a large number of people and keeping up with
the population boom of the late 20th century.
What are the food challenges facing the retail industry
in the 21st century?
There will be 2 billion more people in the world by 2050.
M.R.
It’s therefore essential that we maintain our capacity to feed the
growing population, especially in a geopolitical context that has
underscored how vital food sovereignty is for the stability of the
world’s democracies. Malnutrition is unfortunately still a reality in
some continents, particularly sub-Saharan Africa, where one in
four people are malnourished. Conversely, many countries are
seeing a sharp rise in obesity: it’s now estimated that there are as
many obese people in the world as there are malnourished. The
major new issue we need to address is climate change and
resource depletion. To keep up with population growth, farmers
have had to intensify production, exploit more land resources and
adopt new technologies, including the use of pesticides and
GMOs. It’s this model that has come under scrutiny today.
So what’s the solution?
Striking a balance between growth and sustainable resource
M.R.
use. As early as the 1970s, the Club of Rome’s Meadows Report
highlighted the difficulty of achieving unlimited growth in a world
of finite resources. Many reports have been written about soil,
resource and biodiversity depletion. According to the UN Food and
Agriculture Organization, one-third of the world’s soil resources
are already degraded due to intensive crop production, excessive
irrigation and fertiliser use. Access to water is becoming a recurrent
problem in many parts of the world, and climate change is affecting
the yields and productivity of crops, livestock and fisheries.
Getting the right balance is all the more difficult given that food
production from farm to fork accounts for 25% of total greenhouse
gas emissions and that the populations of developing countries
POPULATION
GROWTH BY 2050
+2bn
CASINO GROUP — 2021 ANNUAL REPORT SUSTAINABLE DEVELOPMENT
46 — 47
HOW CAN THE RETAIL
SECTOR FEED THE
PLANET WITHOUT
DEPLETING
ITS RESOURCES?
want to consume and eat like the developed world, particularly in
terms of animal proteins. In 1982, a person in China consumed
13 kilograms of meat per year, compared to 63 kilograms today.
An American currently emits twice as much CO₂ as a Chinese person
and eight times more than someone in India. If everyone starts
consuming like in the United States, we won’t be able to meet the key
targets of the Paris Agreement unless we change our production
and consumption models.
What solutions can the food retail industry offer to help
change this model?
The strength of food retail is its role as a bridge between
M.R.
producer and consumer, where it can influence both. There is not
one magic solution, but a set of solutions. We need to change
social norms and representations to help our customers consume
better, and we need to transform supply chains in collaboration
with our suppliers. A shift in consciousness has taken place and
efforts have begun.
A number of initiatives with credible solutions to this global
challenge have been launched at all levels of the supply chain. At
the upstream level, we’re seeing the emergence of less intensive
agricultural practices that capture CO₂, efforts to combat deforest-
ation and the development of smart farming. On the manufactur-
ing side, ocean-bound plastic is being reduced. The food retail
industry is innovating to combat food waste. And downstream,
consumers are changing their lifestyles and diets. Casino Group is
involved in all stages of the process.
What is the Group’s approach to these different challenges?
For more than ten years now, we have been identifying
M.R.
priorities for addressing these issues, which are complex and
interconnected. Our method for reducing our footprint and accel-
erating transformation is defining clear, quantified objectives and
acting in concert with expert stakeholders. We work together with
an ecosystem of partners who develop effective solutions.
To boost our efforts further by engaging customers in the process,
it is vital to take action in social norms, which is why we support
the Citizens Convention for Climate’s proposal to introduce a
“carbon score” label aimed at informing consumer choices. We
also promote plant-based products and, together with leading
NGOs, we have created an animal welfare label that is now used by
many industry players. This open, collaborative approach is crucial
because our success depends on our customers, the support of
our suppliers, and the commitment of our 208,000 employees.
GREENHOUSE
GAS EMISSIONS
25%
Food
HIGH-
LIGHTS
GPA confirmed
in Brazilian CSR index
GPA, an active participant in the fight
against deforestation that monitors all of
the beef producers who supply its banners,
has maintained its position in the ISE B3
Index of the Brazilian stock exchange for
the second year in a row. The index
recognises companies for their exceptional
commitment to environmental, social and
corporate governance issues. GPA is the
only Brazilian food retailer in the index.
Naturalia obtains B Corp
certification
The first French food retailer to obtain
Benefit Corporation (B Corp) certification,
Naturalia was assessed against 300 criteria
relating to governance, employee well-being,
community impact, environmental
commitment and the creation of value
for customers. The banner has now joined
the community of 3,400 certified companies
worldwide.
“C l’Empreinte”, an employee
climate advocacy group
The Casino Group employee network
committed to climate change mitigation
was created in September 2021. Named
“C l’Empreinte”, the network aims to
inspire and engage employees around
climate change issues, share good practices,
and create positive momentum by promoting
a “zero impact” culture within the workplace.
REDUCTION
IN GROUP CARBON
EMISSIONS IN 2021
12%
CASINO GROUP — 2021 ANNUAL REPORT CONVENIENCE
48 — 49
This ongoing
metamorphosis requires
an enormous human and
technological transformation
to prepare employees
for the retail industry
of the future.”
DOES URBAN
CONVENIENCE RETAIL
CONSTANTLY HAVE
TO BE REINVENTED?
Cécile Guillou,
Chief Executive Officer of Franprix
The urban convenience concept has led to the redefinition
of new retail standards. Why is that?
There’s the fact that city-dwellers are always looking for
C.G.
something new. But that doesn’t explain everything. I think the ability
of the urban convenience concept to reinvent retail standards is
due to the inherent limitations of this format. In a space of just a
few hundred square metres, you can’t offer more than 5,000 to
6,000 items. The objective of convenience stores isn’t to offer a
condensed version of the largest supermarket offers, but to provide
a range of products best suited to the needs of urban shoppers, and
really wow them. This has brought about a culture of permanent
change. Some 20% of Franprix’s offering is switched out every
year – that’s more than 1,000 items! Choosing the products we sell
makes us a trendsetter.
How has the health crisis changed the picture?
By accelerating the pace of change. Being a Franprix
C.G.
employee today means knowing how to answer customers’ ques-
tions about new products, bake a pizza, restock the salad bar, put
postage stamps on parcels, explain how to rent a Véligo bike,
receive and prepare online orders, decide which product to
replace an out-of-stock item with, etc. It also means being availa-
ble for customers who choose to shop in store rather than online,
looking for interaction with staff. This ongoing metamorphosis
requires an enormous human and technological transformation
that I find really exciting. Our role is to prepare our thousands of
employees for the retail industry of the future.
Change is also about continuous expansion. Where does
Franprix plan to develop in the future?
Our goal is to play a part in the transformation of city cen-
C.G.
tres. The Île-de-France region is flourishing, the population continues
to grow and new urban areas are being designed, mainly as a
result of the Grand Paris Express transport project. Similar
changes are taking place around Lyon and in the major cities of
the Provence-Alpes-Côte d’Azur region. In a developing urban
landscape, the opening of a Franprix store adds vibrancy to city
centres. Modern convenience retail helps bring urban areas alive,
and has a role to play in defining what cityliving and socialising
will look like tomorrow. How do you bring people together and
foster ties within a community of people? These issues are at the
heart of our purpose.
FRANPRIX
EXPANSION IN 2021
+10%
CASINO GROUP — 2021 ANNUAL REPORT CONVENIENCE
HIGH-
LIGHTS
Immersive learning for
new Franprix employees
Franprix has taken up the solution
developed by start-up Pitchboy to help
onboard new team members. Using a
dedicated app, new employees can access
an immersive and interactive video to show
them around the shop. Conversational
AI technology helps them get to grips
with the fundamentals of the job, such
as shelf facing, the loyalty programme,
customer relations and more.
VULNERABLE PEOPLE
HIRED THROUGH
EMMAÜS DÉFI
30
50 — 51
Franprix’s venture
into river transport
The decision to use waterways to deliver
dry goods to 300 Franprix stores in Paris
since 2012 is paying off more than ever.
Nearly 800 tonnes of food products are
transported daily via boat from the port
of Bonneuil-sur-Marne, in Val-de-Marne,
to the port of La Bourdonnais, at the foot
of the Eiffel Tower.
TRUCK DELIVERIES AVOIDED
BY ACCESSING PARIS STORES
VIA THE SEINE
36,000
Stores that are less
carbon-intensive
Franprix is stepping up its carbon
reduction efforts by leveraging
GreenYellow’s cold-as-a-service solution,
which involves installing and managing
energy efficient refrigeration equipment.
Work has already started at three sites,
and will be extended across ten or so shops
and warehouses in 2022.
Just Eat joins forces with
the Group in quick commerce
The Just Eat platform has chosen to work
with Casino Group, leveraging the offering
and urban network of the Group’s banners
to expand into the home shopping delivery
segment. The service will launch in March
2022 in around 15 Franprix stores in Paris,
with 400 items available for delivery
in 30 minutes, and will be extended rapidly
to several hundred stores across all banners.
Renewed partnership
with Deliveroo
Deliveroo and Casino Group have
extended their partnership, which already
covers 500 stores, for another two years.
First developed with Franprix and then
rolled out to the Group’s other banners,
the collaboration means groceries can be
delivered to customers in under 30 minutes.
The aim is now to roll the programme
out across 1,500 stores in gradually more
French cities.
Franprix in tandem with Véligo
As part of its commitment to promoting
soft mobility, Franprix has joined forces
with Véligo, the long-term electric bike
leasing service set up by the Île-de-France
region. Bikes can be picked up from one
of the 90 Franprix partner stores in the Paris
area, where employees give an induction
to using the Véligo bike.
CASINO GROUP — 2021 ANNUAL REPORT BRAZIL
52 — 53
For Brazilian
consumers, dignity is just
as important as price.
Over the last five years,
cash & carry has
improved greatly.”
WHAT MAKES
CASH & CARRY
SO SUCCESSFUL
IN BRAZIL?
Christophe Hidalgo,
Member of the Board of Directors
of Assaí and GPA
Cash & carry is performing very well in Brazil. Why
exactly is it so popular among consumers?
C.H.
Today, two thirds of consumers use cash & carry stores
for at least part of their shopping. The economic strain of the crisis
and rising unemployment have certainly played a role in this, but
for Brazilians, dignity is just as important as price. Over the last
five years, the format has improved greatly. Stores that used to be
located in hard-to-reach areas – perhaps in poorly lit warehouses
with bad air-conditioning – are now in more upmarket areas
and have been modernised for better comfort and greater choice.
In parallel, many cash & carry banners, particularly Assaí, have
tailored their ranges to suit different regions. The distance
between our northernmost store in Brazil and the southernmost
one is greater than the distance between Stockholm and
Marrakesh – and of course, culturally, consumers are very different
from one end of the country to the other.
Are the Group’s support and links with GPA assets
for Assaí?
The best illustration of this is the sale of 70 Extra hyper-
C.H.
markets to Assaí, which will be converted over the next 18 months.
In recent years, 17 stores have already been converted and seen
their sales triple, with lower operating costs improving profitabil-
ity. These additional conversions will double the rate of openings
in 2022 and 2023, expanding and densifying the store network
across the country, and paving the way for Assaí to position itself
as market leader by 2024.
Can this success be replicated in other countries?
Not easily. Firstly, social pressure around consumption is
C.H.
very strong throughout Latin America. Even just ten years ago,
the 15% of the population who used cash & carry stores in Brazil
were not proud of it, and shopping bags were deliberately not
branded so as to avoid embarrassment. Consumers’ perception of
cash & carry in Brazil has gradually changed, but it has taken time,
even in the face of multiple economic crises and rampant inflation.
The other explanation for its success here in particular is Brazilians’
fondness for brands. Hard discount, an alternative low-cost super-
market format which offers mainly sub-brand and private-label
products, is well established in other parts of Latin America but
has never managed to really crack Brazil. In a way, the position of
low-cost retailer is already filled outside Brazil.
ASSAÍ CUSTOMERS
55%
45%
Individuals
Legal
entities
STORE NETWORK
302
262
212
184
166
144
2018
2019
2020 2021
2022
2023
Objectives
CASINO GROUP — 2021 ANNUAL REPORT
BRAZIL
HIGH-
LIGHTS
54 — 55
Assaí opens 28 new stores
Some 28 new Assaí stores opened in 2021,
representing 153,000 sq.m of retail space.
This pace of openings is a record not only
for Assaí itself, but for the whole Brazilian
cash & carry sector. The banner’s fast
expansion has increased sales by almost
20% and created 8,500 jobs. The banner
is now aiming to have 300 shops by 2023.
GPA joins forces with Magalu
Magalu, a major online retailer in Brazil,
is adding 2,000 food products to its
platform from Pão de Açúcar, the leading
supermarket for customers seeking quality
and choice. The partnership will further
drive GPA’s omnichannel strategy, where
e-commerce already accounts for 8.4%
of food sales.
EXTRA HYPERMARKETS
SOLD TO ASSAÍ
70
GPA’S ONLINE
FOOD SALES
+53%
GPA now in the Bloomberg
Gender-Equality Index
With a long-standing commitment to
supporting diversity, inclusion and the fight
against all forms of discrimination,
GPA’s teams have been recognised in
the Bloomberg Gender-Equality Index
for their work in promoting inclusion
and diversity. The index scores companies
on five criteria: female leadership, talent
pipeline, equal pay, inclusive culture
and sexual harassment policies.
Launch of the first GPA
Lab innovation challenge
Three start-ups were rewarded in the
first GPA Lab innovation competition:
Muda Meu Mundo, which connects
small producers and retailers; Inclue,
which develops services for people with
disabilities; and ice cream manufacturer
Lowko. Their products are now being
sold on a trial basis in the banner’s shops
in São Paulo.
Pão de Açucar Fresh:
sustainable convenience
The Latin American Fresh Market model
continues to win over new customers with
the São Paulo opening of Pão de Açucar
Fresh, the first convenience store dedicated
to responsible food. The 450 sq.m store
offers traditional meat, fish, cheese and
bakery counters alongside fresh, organic
and local products.
Pão de Açúcar’s new
expansion programme
The opening in December of the
181st Pão de Açúcar supermarket in Limeira,
in the São Paulo region, marks a return
to expansion for GPA’s premium banner.
This launch, the first in four years, paves
the way for a further 100 or so stores set
to open by 2024, including 14 Extra
hypermarket conversions.
CASINO GROUP — 2021 ANNUAL REPORT SHORT SUPPLY CHAINS
56 — 57
Local sourcing gives
us a more balanced
partnership with
our suppliers,
which really drives
transformation.”
HOW CAN LARGE- SCALE
RETAILING DOVETAIL
WITH SHORT
SUPPLY CHAINS?
Corinne Aubry-Lecomte,
Director of Innovation and Product Quality
at Achats Marchandises Casino (AMC)
What exactly is a short supply chain?
C.A.-L. It’s the idea of a producer-retailer relationship founded
on both geographical proximity and the human connection.
Agreements with producers are an example of a short supply
chain in that they reduce the number of intermediaries and foster
long-term commitment with farmers. As well as an emphasis on
close, local relationships, there is also a dimension of food sover-
eignty: local sourcing is a way of restoring French agriculture to its
rightful place.
What do you think has propelled the rise of shorter
supply chains?
C.A.-L. It happened out of necessity. The pandemic and succes-
sive lockdowns led to heightened consumer interest in local pro-
duction, while the slowdown in international trade has put where
goods come from under the spotlight. This increased awareness
has tuned the consumer back into local ecosystems and driven up
demand for more authentic products, made using local raw mate-
rials and methods.
Moreover, provided that food safety standards are respected –
and I will talk about this more later – local production is often
synonymous with great quality, particularly for fresh produce. A peach
grower can supply stores with ripe fruit picked just the day before,
and fish markets can deliver fish freshly caught the same morning.
In logistics processes geared towards very high volumes, these
sort of time scales are impossible.
So how can the retail sector respond to this demand?
C.A.-L. Large-scale retailing is based on selling a product in high
volumes to as many people as possible, at the best price. This
model does not dovetail easily with local sourcing, in terms of
quantity and cost. But retail is transforming, with an increasing
focus on not only trade, but also on selectivity. This is the case
particularly within Casino Group, which has multiple banners to
meet the needs of different customers. We adapt our organisation
and operating processes to ensure that every banner and every
store can select the products its customers want.
Is this a paradigm shift?
C.A.-L. There has always been some local sourcing outside of
warehouse logistics. Individual stores are best positioned to know
which products their customers want and to choose the best pro-
ducers. We encourage this at Group level by creating dedicated
spaces in stores and by running initiatives that foster direct contact
with local suppliers, such as the “Le Meilleur d’ici” and “La Criée” lines,
which have been in place for ten years at Casino. At the same time,
AGREEMENTS
WITH PRODUCERS
IN FRANCE
169
CASINO GROUP — 2021 ANNUAL REPORT SHORT SUPPLY CHAINS
58 — 59
SERVICES FOR EQUITY
START-UPS
6
HOW CAN LARGE-SCALE
RETAILING DOVETAIL
WITH SHORT
SUPPLY CHAINS?
the Group’s urban banners have made a name for themselves as
trendsetters. Monoprix and Franprix are excellent at identifying
small, high-potential suppliers. We have also set up Casino Services
for Equity, a structure that facilitates collaboration with start-ups
by providing our expertise in retail and digital marketing in return
for a minority stake. Six start-ups have already joined the scheme.
How can the right volumes and prices be achieved?
C.A.-L. Of course, no small producer can supply enough of their
product to stock all the stores under a given banner. But the flip
side of this is that demand for local products is often local itself.
So the idea is to put down roots alongside the community, by
selecting the best that the region has to offer for our customers.
Price remains an important issue. In a way, the upmarket move of
the Group’s banners makes us more compatible with short supply
chains. More and more consumers are willing to spend a little
extra for more sustainable food and local products that are more
authentic and more ethical. And to help keep prices acceptable
while protecting our small suppliers, we forge long-term commit-
ments through multi-year contracts and make sure to discuss prices
collaboratively.
Are there any responsibilities that come with bringing
small players into the world of large-scale distribution?
C.A.-L. Definitely. First and foremost, we have to ensure that the
products we sell are safe for our customers. This means we need
to make small producers aware of the importance of complying
with regulations and food safety standards, and help them imple-
ment a quality approach. In this respect, working with the Group
gives them certain tools to develop their skills.
The other risk is creating economic dependency. It’s really positive
that small players can benefit from the attractiveness of our shops,
but we also have a responsibility to ensure that their growth does
not depend entirely on our orders. That is why we gradually build
up volumes, acting as a steppingstone.
Lastly, what do shorter supply chains bring to Casino
Group?
C.A.-L. As well as the unique offerings that local producers bring
us, which can strengthen our banners’ appeal to customers, short
supply chains give stores renewed purpose. They highlight stores’
roles as active players in an ecosystem, bringing back a more per-
sonal form of retail that is more firmly rooted in its environment.
Short supply chains can – and should – spur us on to further change
our approach, which is still very centred around large volumes.
Local sourcing gives us a more balanced partnership with our
suppliers, which really drives transformation.
HIGH-
LIGHTS
Showcasing local producers
Local sourcing is encouraged more than
ever by Casino’s banners, which promote
short supply chains by extending the space
devoted in shops to producers located
within a 100 km radius. The scheme
is part of the CAP’ (Casino Acting for the
Planet) programme, aimed at promoting
responsible consumption.
Services for Equity welcomes
two new start-ups
Two new start-ups joined the Casino
Services for Equity innovation support
scheme in 2021: Hugo vegan desserts
and Fava organic and sustainable feminine
hygiene products.
In partnership with the two creators of Fava,
Monoprix and Franprix have launched
the first offering in France where
customers can purchase single feminine
hygiene products.
The Group promotes young
talent in foodtech
The Ecotrophélia competition, which is
open to students at food and agriculture
engineering schools, rewards the most
promising eco-innovations each year.
For the first time, a special “Casino Group
supports the food transition” label was
awarded to a rich vegan brownie with
a Nutri-Score A rating, which was
developed by students at ENSCBP
Bordeaux engineering school and will
be marketed by the banners in 2022.
LOCAL PRODUCERS
SHOWCASED
BY CASINO BANNERS
1,500
CASINO GROUP — 2021 ANNUAL REPORT HUMAN RESOURCES
60 — 61
While in no way
an alternative to human
interaction, the advanced
digitalisation of our
business is a powerful tool
for improving customer
service.”
WILL TECHNOLOGY
REPLACE THE
NEED FOR HUMAN
CONNECTION?
Franck-Philippe Georgin,
General Secretary of Casino Group
Casino Group is the most digital French retailer: what is
its approach to technology?
F.-P.G. Technological progress is a trend that can’t be avoided. It
is developing in all sectors of the economy, and retail in particular.
There are two ways of dealing with this phenomenon: we can
either resist change or choose to take the lead. Over the last
five years, Casino Group has chosen to explore technology’s
full potential. While in no way an alternative to human interaction,
the advanced digitalisation of our business is a powerful tool for
improving customer service.
What are the most automated functions?
F.-P.G. Wherever we use automation, the idea is to assist employ-
ees with repetitive or control tasks that don’t require initiative. For
example, the Exotec robots developed for Cdiscount and the
Ocado robots installed in the O’Logistique warehouse use artifi-
cial intelligence to achieve very high levels of productivity. We
much prefer to free up employees’ time so that they can devote
their creativity, intelligence and commitment to our customers.
Meanwhile, some 450 people have been hired at O’Logistique to
deliver Monoprix Plus and Casino Plus online food sales. By covering
the entire value chain, we can be sure that we are providing our
customers with high quality service.
How does in-store digitalisation affect cashier jobs?
F.-P.G. The real human value of cashiers’ jobs lies in custom-
er-focused service, advice and guidance rather than in the check-
out stage itself – which, when automated, offers customers a
streamlined payment process and extended opening hours. We
have been preparing for these changes in jobs for quite some
time. Back in 2018, Casino worked with employee representatives
in France to set up a “customer plan”, which has provided training
for 1,200 employees for a new customer advisor role.
Could technology be a way to make human connection
even better?
F.-P.G. That’s our goal, yes. Social innovation and employee
development are part of our culture. Casino Group has made
extraordinary career paths a reality. We place great emphasis on
skills development and employee mobility to support our teams
as their roles evolve and transform. We have set up training quali-
fication programmes with this in mind, including an MBA with the
Audencia business school and a Master’s degree with Jean Monnet
University in Saint-Étienne focusing on caring management.
JOBS CREATED
BY O’LOGISTIQUE
950
CASINO CUSTOMER
ADVISORS
1,200
CASINO GROUP — 2021 ANNUAL REPORT HUMAN RESOURCES
HIGH-
LIGHTS
A domestic violence
awareness handbook
Working closely with employee
representatives, Casino Group is taking
action on the sensitive issue of domestic
violence. The guide, produced by the
Human Resources Department, includes
testimonials and sets out best practices
to support victims and raise awareness
among their colleagues and managers.
ENGAGEMENT
SCORE AT GRUPO ÉXITO
IN 2021
89%
62 — 63
Casino banners awarded
HappyIndex Trainee 2022 label
The Casino banners ranked among the
top ten companies for internships or
work-study programmes in France, based
on evaluations from more than 700 interns
and work-study trainees. This independent
label is awarded by the benefit corporation
ChooseMyCompany.
WORK-STUDY
TRAINEES EMPLOYED
BY THE GROUP
7,100
Monoprix and Casino banners
named “Top Employer 2022”
Casino has joined Monoprix in the 2022
Top Employer list. This international
certification singles out companies with
a working environment that promotes
employee well-being through innovative
HR practices to encourage skills
development, diversity and inclusion.
First graduates of the Audencia
corporate MBA programme
For the first year, 13 employees from
across the Group’s banners in France
graduated from the new “manager-director
of operational units” MBA, developed
with Audencia management school.
Designed to support skills development for
managers, the course focuses on leadership,
financial performance analysis and the
customer experience.
€143,000 raised for Orange Day
Offering its support for the sixth year to
the Orange Day campaign to fight violence
against women, Casino Group donated
€143,000 to the United Nations Women
France committee. The funds were
collected from customers through donations
made in store, via the Casino Max app,
on the Cdiscount website and through
cause-related marketing.
Progress in gender equality
and support for parents
In France, Casino has drawn up a new
Working Parents Charter and committed
to a fourth agreement on gender equality
in the workplace. The initiatives introduce
training to help break the “glass ceiling”
and provide for uninterrupted payment
of salary over the 25-day paternity leave
period.
CASINO GROUP — 2021 ANNUAL REPORT OMNICHANNEL RETAIL
64 — 65
WHAT HAS MADE THE
SHIFT TO OMNICHANNEL
RETAIL SO SUCCESSFUL
IN COLOMBIA?
Carlos Mario Giraldo,
Chief Executive Officer of Grupo Éxito
What are the challenges facing retail in Colombia?
C.-M.G. Customers are changing: they are increasingly aware of
the societal footprint of what they consume, and expect retailers
to take into account the impact of their activities not only on their
stakeholders, but on society and the environment as a whole.
They have also become “omni-customers”, buying both online and
offline, depending on what they need, when they need it and
where they are. So it’s vital that retailers can provide the variety of
solutions that their customers need, from home delivery to click &
collect and, of course, a high quality in-store shopping experience.
Lastly, there is strong demand for convenience, both on and offline.
How is Grupo Éxito rising to the challenge?
C.-M.G. As Colombia’s number one retailer, Grupo Éxito has always
taken its responsibilities very seriously. It has led the way in
responding to major challenges in the country, from setting an
example for the ecological and societal transition to protecting
Colombians during the pandemic, and today developing the
omnichannel revolution in retail. Innovation is at the heart of how
we drive change. Grupo Éxito’s new generation Éxito Wow hyper-
markets already account for 30% of the banner’s sales, and Carulla
FreshMarket supermarkets represent 45% of Carulla’s sales. And
of course, innovation is essential to meeting customers’ digital
expectations.
Why does omnichannel retail fit so well with the needs
of Colombians?
C.-M.G. There are several explanations for this. Firstly, Colombia
stands out for its very high urban growth levels, much higher than
in neighbouring countries. Almost half of Colombians now live in
urban areas with more than a million inhabitants. In these densely
populated cities, with saturated transport networks, home delivery
is popular with consumers, especially in Bogotá, Medellín and Cali.
The second reason is that Colombians have increasingly adopted
digital solutions as a knock-on effect of the pandemic. This has
meant that food e-commerce has experienced a huge boom,
boosted by very low delivery prices. Grupo Éxito has played an
important role in this phenomenon, by streamlining sales channels
as much as possible.
How is Grupo Éxito matching Colombians’ use of digital
technology?
C.-M.G. WhatsApp is used by two thirds of the population in
Colombia. So, during lockdown, we felt it was important to give
Colombians the opportunity to use this channel to shop. We initially
gave customers the opportunity to place orders through live chats
COLOMBIAN URBAN
POPULATION
81%
69%
46%
1960 1990 2020
HOME
DELIVERIES*
7.8m
* Operated by Grupo Éxito in 2021.
An omnichannel
offering is becoming
an integral part of Grupo
Éxito’s corporate culture,
changing how we approach
and run our business
as a retailer.”
CASINO GROUP — 2021 ANNUAL REPORT OMNICHANNEL RETAIL
66 — 67
WHAT HAS MADE THE
SHIFT TO OMNICHANNEL
RETAIL SO SUCCESSFUL
IN COLOMBIA?
with the shop team, before taking the process to the next level by
developing a highly advanced chatbot with an Argentinian start-up.
Now 20% of our digital food sales go through WhatsApp! Carulla
has also become the first retailer in the country to offer delivery in
under ten minutes, thanks to the Turbo Fresh service introduced
in 2021 with our strategic partner Rappi. Lastly, we created the
Clickam app, which makes every employee an ambassador for Grupo
Éxito’s products and services. It has already built up a community
of 5,000 active members, extending beyond the Group.
Is this successful shift to omnichannel retail linked to
the maturity of Grupo Éxito’s financial services model?
C.-M.G. As you say, we have had strategic alliances in place for a
long time now to monetise footfall in our stores and the trust
our customers have in us. Our subsidiary Viva Malls, the leading
operator of shopping centres in Colombia, offers banners a unique
ecosystem of digital, financial and loyalty services. Grupo Éxito is
also behind the creation of neobank Tuya. Now the country’s
leading credit card issuer, Tuya has 2.8 million card holders and is
currently developing a digital wallet solution. Lastly, our Puntos
Colombia loyalty programme, which covers a network of 120 part-
ner companies, has 5.5 million active customers and is becoming
almost an alternative currency.
Synergies with the Group will help power both our energy transfor-
mation, through a long-standing collaboration with GreenYellow,
and our omnichannel transformation, thanks to Octopia’s expertise
in developing our marketplace and relevanC’s ability to monetise
our data.
How has Grupo Éxito galvanised all its teams to help
drive this transformation?
C.-M.G. Change comes from the top – and the omnichannel strat-
egy has become a priority for senior management. To get everyone
throughout our networks involved, we decided to empower indi-
vidual stores to develop their digital sales. It is now an objective for
store managers and as such is specifically taken into account in
their results. All of this is supported by a group-wide digital adap-
tation programme including online training, inspiring conferences
and a very active network of young digital ambassadors. It is an
ongoing transformation process that requires continuous input
from people. Our ambition is to make the omnichannel offering an
integral part of Grupo Éxito’s corporate culture, changing how we
approach and run our business as a retailer.
SHARE OF OVERALL SALES
FROM DIGITAL CHANNELS
12.2%
TUYA CREDIT CARD
HOLDERS
2.8m
HIGH-
LIGHTS
Launch of Turbo Fresh
Grupo Éxito, an early partner of Colombian
last-mile delivery specialist Rappi, is
launching its Turbo Fresh quick commerce
service. Some 64 dark stores have already
been deployed in the country’s major
cities to deliver Carulla products in under
ten minutes.
Grupo Éxito ranks among the
top ten most sustainable retailers
This year, the Dow Jones Sustainability
Index has again ranked Grupo Éxito
among the top ten food retailers worldwide
in terms of their commitment to the
environment and society. The Group’s
Colombian subsidiary has made significant
progress in supporting sustainable
agricultural practices, in particular.
Carulla FreshMarket certified
as carbon neutral
Equipped with latest-generation natural
refrigeration systems and photovoltaic
power production units, premium banner
Carulla FreshMarket’s 22 stores have been
awarded “carbon neutral” certification from
Icontec, the Colombian institute of
technical standards. Carulla, which has a
long history of working with GreenYellow
Colombia, is the first Latin American
distributor to receive this certification.
PUNTOS COLOMBIA
LOYALTY PROGRAMME
ACTIVE CUSTOMERS
5.5m
CASINO GROUP — 2021 ANNUAL REPORT DATA & AI
68 — 69
IN WHAT WAY
ARE DATA AND AI
KEY TO THE
FUTURE OF RETAIL?
Cyrille Geffray,
Chief Executive Officer of relevanC
What makes the data generated by the retail sector so
valuable?
It is valuable for three reasons. Firstly, it is very far-reaching.
C.G.
It covers millions of customers, thousands of products, and complex,
daily supply flows. Secondly, it is specific, since data can be linked
to individual customers through loyalty programmes. And lastly, it
is granular: banners can extract details from purchase receipts.
This makes data a precious commodity, both for retailers, who can
use it strategically to improve customer service, and also for
brands, which want to send customers personalised messages.
How did Casino Group get a head start in data?
It applied the same method that has already proven suc-
C.G.
cessful in other B2B activities. The Group’s strength lies in its clear
vision of the changes taking place in the sector, as well as the
energy and the human and financial resources that it devotes to
making its ideas a reality. Internal start-up relevanC already has a
team of 150 people, more than a third of whom are tech profes-
sionals and data scientists. Our content personalisation and retail
media solutions, tested on a real scale with the Group’s banners, are
currently used by 200 customer companies. We are now present
in Brazil, and our next challenge is to step up growth internationally.
To do this, we have teamed up with Google Cloud and Accenture,
which are bringing their technological know-how, global client
base and B2B expertise to the table.
Does the alliance with
Intermarché create new
opportunities?
It gives us much more clout! By leveraging relevanC’s
C.G.
technologies, Infinity Advertising offers the broadest food retail
media offering in the market, with 17 million loyalty card holders
across the two groups. Not only is this audience vast, it’s also
highly targeted.
Does artificial intelligence represent a new era for retail?
AI can replace “intuition” in sales to help analyse data and
C.G.
assist teams. The Group already uses it in many areas such as
pricing, recommending products, scoring applicants for split pay-
ment services, and managing out-of-stock items on the shelves.
This is a new source of growth to explore and the potential is huge.
CUSTOMER
COMPANIES
200
ON
4
CONTINENTS
A start-up incubated
by the Group, relevanC
already has a team
of 150 people, more than
a third of whom are tech
professionals
and data scientists.”
CASINO GROUP — 2021 ANNUAL REPORT DATA & AI
HIGH-
LIGHTS
Alliance with Intermarché
to create Infinity Advertising
Under their purchasing alliance, Casino
Group and Intermarché have created
a joint venture to market a retail media
offering to food brands and their agencies
in France. It will draw on one of the
largest transactional databases in France
on digital media, leveraging technologies
developed by relevanC.
CUMULATIVE BASE
OF PROFILES AVAILABLE
TO INFINITY ADVERTISING
17m
70 — 71
Inlead boosts geolocation
for the relevanC solution
The acquisition of Nantes-based start-up
Inlead, which has developed a turnkey
marketing technology solution for physical
retail networks, strengthens relevanC’s
offering with geolocalised digital campaigns.
PROPORTION OF DATA AND
TECH PROFILES AMONG
RELEVANC EMPLOYEES
35%
Leveraging AI to support
operational excellence
Through its collaboration with French
start-up Belive.ai, Casino has equipped
its stores with new smart cameras to track
missing products and missing price tags.
Shelf stock-outs have halved as a result.
The solution also helps consolidate
product data to improve understanding
of consumer expectations.
Everli adopts relevanC
technology
Everli, the first grocery delivery service
in Europe with personal shoppers for
customers, has selected relevanC
technology to strengthen its retail media
activity on its website and applications.
relevanC will support the platform
on the Italian and Polish markets, which
account for a growing share of its business.
A Grand Prix for Casino
and DLC Memo
At the Responsible Retailing Awards
organised by Essec business school, Casino
Group banners took home the “Collaborative
project for the retail sector and its partners”
award for the deployment of DLC Mémo,
developed by French start-up CodaBene.
The tool uses artificial intelligence to reduce
food waste and improve product traceability
by simplifying shelf management.
relevanC obtains Google Cloud
“Premier Partner” status
relevanC’s arrival on the Google Cloud
B2B marketplace is a powerful tool for
boosting the development of its marketing
solution for retailers. relevanC has also
obtained Google Cloud “Premier Partner”
status, which attests to its in-depth technical
expertise and the quality of its customer
support.
CASINO GROUP — 2021 ANNUAL REPORT OUR
BUSINESS
UNITS
P. 106
NEW
BUSINESSES
P. 92
INTERNATIONAL
RETAIL
P. 74
FRANCE
RETAIL
FRANCE RETAIL
74 — 75
CDISCOUNT
A French champion of technology and e-commerce,
Cdiscount offers over 100 million products through its digital
platform thanks to an ecosystem of 15,000 vendors,
half of which are located in France. Cdiscount makes the best
products and services available to as many people as possible,
while building a responsible, inclusive and supportive European
economy. By supporting the digitalisation of the sector,
Cdiscount promotes its expertise in the B2B market to create
new drivers of growth and profitability. Octopia provides companies
with turnkey marketplace solutions, Cdiscount Advertising
offers digital marketing solutions and C-Logistics develops a range
of services for brick-and-mortar and e-commerce retailers.
EMPLOYEES
2,600
PRODUCTS
100m
UNIQUE VISITORS
23m
CUSTOMERS
10m
HIGH-
LIGHTS
2021
Development of Cdis-
count’s B2B business
within the Octopia sub-
sidiary, with the signing of
13 contracts to create turn-
key marketplaces /// Launch
of the Cdiscount Advertising
brand dedicated to digital mar-
keting /// Signing of 30 external
contracts by C-Logistics /// Sign-
ing of the e-commerce charter ///
Two showrooms presenting Cdiscount
Maison homeware collections /// Part-
nership with Origine France Garantie
(made in France guarantee) and obten-
tion of OFG certification /// 38 live shop-
ping sessions between September
and December 2021 /// Introduction of
Cdiscount Cuisine kitchenware ///
Commitment to FRET21, a programme
to encourage companies acting as
contractors for transporters to better
integrate the impact of transport into their
sustainable development strategy.
CASINO GROUP — 2021 ANNUAL REPORT
FRANCE RETAIL
76 — 77
MONOPRIX
For 90 years, Monoprix has been France’s leading city-centre
retailer and a benchmark player in the daily lives of city dwellers.
It has built a one-of-a-kind relationship with its customers through
its store network and a digital ecosystem made up of monoprix.fr,
Monoprix Plus and Monop’Hop. A department store with a unique
concept to make everyday life feel special, Monoprix provides
a high-quality food offering and an exclusive range of fashion,
home and beauty products in the heart of the city. Both in France
and abroad, the banner draws on the power of its brand
to express its own special vision of excellence and to offer customers
a combination of contentment and commitment.
STORES IN FRANCE
315
STORES OUTSIDE FRANCE
103
EMPLOYEES
21,000
HIGH-
LIGHTS
2021
Introduction of new
spaces in stores dedi-
cated to green mobility
(La Station) and health
(La Santé au quotidien) ///
Launch of Monopflix, the
first truly omnichannel sub-
scription service that makes
food shopping easier and
loyalty ///
Inauguration of the world’s first
rewards customer
carbon-neutral warehouse, in line with
Monoprix’s vision and commitment
to a low-carbon economy /// Prisunic-
Monoprix exhibition at the Musée des
Arts Décoratifs in Paris /// Inauguration
of the Monoprix Croisé-Laroche store,
a reinvented layout that embodies
the vision of “French joie de vivre” ///
Launch of the Monop’Hop application,
a new ultra-fast delivery service.
CASINO GROUP — 2021 ANNUAL REPORT
FRANCE RETAIL
78 — 79
FRANPRIX
With their highly convenient, welcoming settings,
Franprix stores are committed to meeting the needs
of city residents looking for choice, quality and
innovative concepts. Acting like a neighbourhood shop,
the ever-evolving city-based banner constantly
reinvents itself to provide everyday essentials. Its carefully
chosen food offering and ultra-convenient
services are designed to make life easier for customers.
STORES
942
OPENINGS
80
FRANCHISES
75%
EMPLOYEES
3,500
HIGH-
LIGHTS
2021
Stepped-up expan-
sion, particularly in Île-
de-France, the Rhone
Valley and the Atlantic
coast /// Deployment of
France’s first all-electric
26-tonne truck for transport-
ing fresh food and fruit and
vegetables /// Launch of the first
bulk sales concept for premium
brand products in France, in part-
nership with Bulk&co, FM Logistic and
Ilec /// Development of partnerships
with Deliveroo and Uber Eats, with a
total of 425 active stores /// Deployment
of shops-in-shops, with 335 Hema
corners and 64 Decathlon corners ///
12 awards won in 2021, including the
Sirius collaborative innovation award
for brands sold in bulk and the Top-
Com trophy for the Franprix express
omnichannel campaign.
CASINO GROUP — 2021 ANNUAL REPORT
FRANCE RETAIL
80 — 81
CASINO SUPERMARKETS
Leaders in good food, Casino supermarkets are at the forefront
of superior products and new trends. From early morning
to late evening, shoppers are engaged through all five senses
in a traditional covered market atmosphere, thanks to
a friendly welcome and an unparalleled selection of products.
The banner has developed a product range focused on quality,
pleasure and the discovery of flavours from here and elsewhere.
Located in city centres and holiday areas, the stores and their
teams cater to consumers’ everyday needs and special occasions.
STORES IN FRANCE
429
EMPLOYEES
10,860
OF WHICH INTEGRATED STORES
331
STORES OUTSIDE FRANCE
26
HIGH-
LIGHTS
2021
Opening of three super-
markets in Bagneux,
Lyon Gerland-Debourg
and Juan-les-Pins and
conversion of nine Géant
Casino stores /// Renovation
of 73 stores /// Continued
extension of store opening hours
to provide autonomous service
in the evening and on Sunday
afternoons: 52 autonomous outlets
out of a total of 257 stores /// Roll-out
in 250 stores of Belive’s artificial intel-
ligence solution for managing product
shortages /// Banner commitments high-
lighted by the implementation of Veggie
corners and the use of signage for
specific promotions /// Deployment in
62 stores of an extended fruit and veg-
etable concept promoting local, seasonal
products /// Roll-out in 321 stores of
corners dedicated to the Leader Price
product range /// Continued development
of partnerships with Claire’s (163, or
213 stores to date), Kumo (11) and
Badawin (3) /// Development of two new
concepts: Casino #Toutprès (already
6 stores) and Casino #Bio (7 stores).
CASINO GROUP — 2021 ANNUAL REPORT
FRANCE RETAIL
82 — 83
GEANT CASINO
A true omnichannel “vendors’ square”, Géant Casino
is reinventing the way consumers shop. Combining
friendly spaces with an unprecedented variety of fresh
products, the stores also offer unique access to
an assortment of specialist non-food brands through
dedicated corners. Coupled with the power of digital
and the quality of the banner’s teams, this product offering
enables Géant Casino to provide an enhanced customer
experience that sets the tone for the future retail environment.
STORES
95
EMPLOYEES
10,955
2021
HIGH-
LIGHTS
Continued opening
of non-food corners
thanks to partnerships
with expert brands such
as C&A (20 new corners,
totalling 28 to date), Claire’s
(8 new corners, totalling 64 to
date), Maty and Piery (7 new
corners, totalling 11 to date), and
roll-out of La Grande Récré,
Surpass and Greenriders corners ///
Implementation in 43 stores of an
extended fruit and vegetable concept
promoting local and seasonal products
and launch of a new “bread, pastry and
cake” concept /// Installation of Leader
Price corners in 81 stores /// Launch of
12 Veggie corners /// Extension of store
opening hours to Sunday afternoons at
12 new stores, 66 in total.
CASINO GROUP — 2021 ANNUAL REPORT
FRANCE RETAIL
84 — 85
NATURALIA
Since 1973, Naturalia has given city shoppers the freedom
to choose alternative consumption practices. A pioneering organic
food chain in France, Naturalia stores stand out for their unique
offering of 10,000 products, including fresh produce, dry goods
and cosmetics that promote biodiversity and support local French
farmers. The first food retailer to obtain B Corp certification
in France, Naturalia promotes the values of quality and social
and environmental responsibility day after day.
STORES
257
EMPLOYEES
1,700
HIGH-
LIGHTS
2021
Ramped up expansion
of the banner with
38 store openings, includ-
ing 15 acquisitions and
13 franchises /// First French
food retailer to obtain B
Corp certification in March
2021 /// Opening of Naturalia
Enfants Rouges in Paris, a new
flagship store that embodies the
banner’s values and expertise ///
Acceleration of e-commerce with the
launch of next-day, seven-day-a-week
delivery for naturalia.fr orders in Île-de-
France, a service operated by the
O’Logistique automated warehouse ///
Introduction of an in-store range of prod-
ucts that satisfy the RILI (reduction of
environmental impact, innovation, local
and price image) criteria /// Inauguration
in Switzerland of the Nature& store con-
cept in partnership with the Migros group.
CASINO GROUP — 2021 ANNUAL REPORT
FRANCE RETAIL
86 — 87
VIVAL
SPAR
Since 1999, Vival has been
fulfilling the needs of customers
in small and medium-sized
rural towns and in urban areas
where the banner is established.
The multi-service stores
have become gathering places
open to culture, where
locals can meet and socialise.
The leader in rural
convenience and the No. 1 food
franchise in France in terms
of number of stores, Vival
is accelerating its expansion.
Founded more than 85 years
ago, the Spar banner is present
in 49 countries and operates
over 13,500 outlets worldwide.
In France, Spar convenience
stores and supermarkets are
firmly established in tourist
areas on the coast and in
the mountains where they
offer a wide range of national
brands, Casino private-label
items and local products,
as well as a pleasant and
efficient customer journey.
LE PETIT
CASINO
Le Petit Casino and Casino
Shop take a human approach
to retail in the heart of towns
and neighbourhoods. Adapted
to each region, their offers focus
on local producers, scoop-
and-weigh services, private-label
products and snacks.
The banner evolves in line
with the needs of urban
consumers, with an expanded
selection of products and
innovative everyday services.
SHERPA
Primarily located in mountain
regions, Sherpa embraces
the values of this lifestyle:
nature, freshness, vitality,
authenticity and performance.
The banner caters to the needs
of urban and international
customers who are fond
of winter sports. Sherpa has
thus become the leading store
at ski resorts, where its balanced
mix of major national brands,
private-label products,
local items and traditional
products highlight the rich
variety of mountain cuisine.
STORES
1,724
STORES
898
STORES
761
STORES
125
CASINO GROUP — 2021 ANNUAL REPORT FRANCE RETAIL
88 — 89
MONOP’
The first French-style convenience store, monop’ is
a condensed version of Monoprix supermarkets dedicated
to the changing consumer habits of city dwellers.
Blending the traditional and digital, monop’ offers a large
selection of quality products and innovative services,
including takeaway eating areas and extended store hours.
STORES
159
EMPLOYEES
950
2021
HIGH-
LIGHTS
Inauguration of the
new monop’ concept
on rue de Marseille in
Paris featuring a rede-
signed model adapted to
the changing demands of
urban consumers. The 250 sq.m
store caters to all shopping
needs and desires at any time of
the day with an offer focused on
ultra-fresh products, food services
and scoop-and-weigh items, as well as
the development of neighbourhood
services /// Opening of “Click & Collect”,
the first pedestrian and bicycle pick-up
point in Paris: much more than a
pick-up service, this new concept
brings together convenience, practical-
ity and innovation to satisfy new urban
consumer expectations.
CASINO GROUP — 2021 ANNUAL REPORT
FRANCE RETAIL
90 — 91
LEADER PRICE
Leader Price discount
supermarkets stand out for
their selection of more
than 3,500 mainly private-label
products, built with a constant
focus on quality at the right
price. The banner is pursuing
an innovative omnichannel
strategy that allows customers
to benefit from discounts of up
to 15% on the Le Club Leader
Price website or place orders
on WhatsApp and Instagram
via a chatbot.
LA NOUVELLE
CAVE
La Nouvelle Cave combines
physical and digital retail
to make beginners feel more
comfortable about buying beer,
wine and spirits, while at the
same time meeting the high
standards of the most seasoned
customers. The banner is present
on home delivery platforms
in the Paris region and Lyon
through virtual brands such
as Caps, Boutique à Boire,
On the Rocks and La Braderie.
LE DRUGSTORE
PARISIEN
The objective of Le drugstore
parisien is for customers to treat
others and treat themselves.
Specialising in beauty products,
toiletries and “little extras”,
the banner offers an array
of everyday lifestyle products
that are natural, responsible,
affordable and made in France,
and is constantly on the lookout
for new brands. Le drugstore
parisien is also developing
its online sales via its website
and expanding its presence on
major e-commerce platforms.
SARENZA
Operating in 26 European
countries with a selection of
40,000 items from 500 brands
– including five private labels –
Sarenza is a leading name
in the fashion e-commerce
landscape. The website and
app draw on several strengths:
service quality, a large
community of customer
advisors who provide
recommendations through
the website’s chat line, and
multiple award-winning
customer service.
STORES
60
PRIVATE-LABEL SALES
85%
STORES
2
VIRTUAL BRANDS
8
STORES
2
PRIVATE-LABEL PRODUCTS
132
CUSTOMERS
6.8m
EMPLOYEES
210
CASINO GROUP — 2021 ANNUAL REPORT INTERNATIONAL RETAIL
92 — 93
BRAZIL
ASSAÍ
Now operating in 24 Brazilian states, Assaí
is a cash & carry specialist for small retailers and restaurants
and, increasingly, for individuals drawn to low prices
and the efficiency of the wholesale model. Stores offer more
than 8,000 products from major brands: dry goods,
fresh produce, beverages, packaging, general goods, home
and garden, hygiene and cleaning products. Assaí
is the only Brazilian cash & carry player on the stock
exchange since its listing in March 2021.
STORES
212
OPENINGS
28
EMPLOYEES
57,000
CUSTOMERS
30m
HIGH-
LIGHTS
2021
Successful listing of
Assaí on the São Paulo
and New York stock
exchanges /// Ramp-up of
the expansion plan with
28 store openings covering
153,000 sq.m, a record for the
Brazilian cash & carry sector ///
Continued growth momentum
with a 19% increase in sales ///
Launch of a home delivery service
in partnership with Rappi /// Unveiling
of a new store concept in Rio de Janeiro
adapted to local consumer requirements
in terms of choice and responsibility ///
Acquisition of 70 Extra hypermarkets
whose conversion will feed the banner’s
expansion pipeline
in the coming
years /// Food donation programme for
100,000 families /// Strengthening of
employee diversity through a proactive
recruitment policy.
CASINO GROUP — 2021 ANNUAL REPORT
INTERNATIONAL RETAIL
94 — 95
BRAZIL
PÃO DE AÇÚCAR
A pioneer in driving responsible consumption in Brazil,
Pão de Açúcar’s upscale urban supermarkets have
built their success on their ability to offer demanding
customers a unique shopping experience. The banner
is widely reputed in Brazil for its customer-pleasing,
top-quality assortment, innovative services,
omnichannel approach and the exclusive benefits
offered by its Meus Prêmios loyalty programme.
STORES
181
EMPLOYEES
14,500
LOYALTY PROGRAMME
MEMBERS
7m
HIGH-
LIGHTS
2021
Continued
transfor-
mation of the Geração7
concept, which refocuses
the store on the fresh food
section, healthy food prod-
ucts and scoop-and-weigh
dry goods: 50 stores reno-
vated during the year ///
Resumption of the banner’s
expansion with the inauguration
of a new store in the São Paulo
region, the first of a series of
100 openings planned between now
and 2024 /// Integration of 14 Extra
hypermarkets that will be converted into
Pão de Açúcar stores in the coming
years /// Recipient of numerous industry
awards: iBest 2021 Award for best
supermarket and loyalty programme,
The Best of São Paulo Award in
the e-commerce category, Conarec
Customer Service Award for pãodeaçú-
car.com and the Special Ebit Nielsen
Award 2021.
CASINO GROUP — 2021 ANNUAL REPORT
INTERNATIONAL RETAIL
96 — 97
BRAZIL
BRAZIL
BRAZIL
BRAZIL
MERCADO
EXTRA
MINUTO PÃO
DE AÇÚCAR
A new supermarket format
created three years ago, Mercado
Extra is particularly suited
to the needs of customers on
the lookout for simplicity, fresh
produce and low prices. Already
present in six states, the banner
is accelerating its development
thanks to a pipeline of Extra
supermarkets and hypermarkets
undergoing conversion, and
has already introduced
an express food e-commerce
offer in half of its outlets.
As the convenience format
of the upscale benchmark Pão
de Açúcar, Minuto is a chain
of stores whose customer
service, sustainable consumption
options, differentiated product
ranges and stylish atmosphere
meet the highest international
standards. Its new Pão de
Açúcar Fresh format launched
in 2021 combines the best
of retailing with quality fresh
produce, traditional food
counters and an efficient
e-commerce food service.
MINI EXTRA
COMPRE BEM
GPA is developing its small
Mini Extra stores in major
Brazilian cities to meet
the expectations of urban
shoppers who want convenience
and simplicity. Widely present
in São Paulo and Recife,
the banner offers a range
of products and services tailored
to customers’ day-to-day
needs at very competitive prices.
Compre Bem is a new
supermarket model rolled out
with a regional focus to better
meet consumer needs. The
banner combines a relevant
offering, top-quality local fresh
produce and food services,
an attractive digital loyalty
programme and strong
digitalisation capabilities
with personalised offers and
express home delivery.
STORES
146
EMPLOYEES
13,600
STORES
100
EMPLOYEES
1,550
STORES
141
EMPLOYEES
1,600
STORES
28
EMPLOYEES
2,600
CASINO GROUP — 2021 ANNUAL REPORT INTERNATIONAL RETAIL
98 — 99
COLOMBIA
ÉXITO
Colombia’s long-standing No. 1 retailer Éxito
addresses a broad customer base via a dense country-wide
network of hypermarkets, supermarkets and convenience
stores and a rapidly expanding digital presence. Its innovative
hypermarket format Éxito Wow embodies the banner’s
transformation: it offers customers a unique, seamless
experience that provides the best of physical and digital
omnichannel retail and an extensive range of products
and services catering to all of the population’s needs.
STORES
233
OF WHICH ÉXITO WOW
19
EMPLOYEES
21,900
2021
HIGH-
LIGHTS
Acquisition of five
La14 hypermarkets in
the Valle del Cauca
region that will be con-
verted to the Éxito Wow
format in 2022 /// Launch of
Autos Éxito, a low-cost vehicle
rental and sales service, in
partnership with Bancolombia ///
Opening of eight new Éxito stores in the
Wow format: Éxito Wow Metropolitano
in Barranquilla, Éxito Wow Alamedas del
Sinú in Monteria, Éxito Wow Parque
Fabricato in Bello, Éxito Wow La Rosita,
Éxito Wow Cañaveral in Bucaramanga,
Éxito Wow San Pedro in Neiva, Éxito
Wow Nuestro in Bogotá and Éxito Wow
La Sabana in Villavicencio.
CASINO GROUP — 2021 ANNUAL REPORT
INTERNATIONAL RETAIL
100 — 101
COLOMBIA
CARULLA
Carulla, a premium supermarket and convenience store banner,
is the Colombian specialist in quality fresh produce. Carulla boasts
a pleasing layout, attractive market-style space, traditional food
sections, imported gourmet products and a vast selection of local
products. The Carulla FreshMarket format goes even further
to offer customers an exclusive, innovative experience and products
with strong environmental credentials.
STORES
101
EMPLOYEES
4,500
OF WHICH CARULLA FRESHMARKET
22
2021
HIGH-
LIGHTS
Ten supermarkets ren -
ovated and converted to
FreshMarket stores ///
Six Carulla Express conven-
ience stores transformed
into the banner’s new con-
cept, and one store opening
in Cartagena /// Recipient of a
Forbes award in the digital trans-
formation category for its SmileID
(facial-recognition payment) and Fruit
Scan (AI-powered self-checkout for fruits
and vegetables) solutions /// Carulla
FreshMarket certified carbon-neutral by
the Colombian Institute of Technical
Standards and Certification (Icontec), a
first in Latin American retailing /// The
new-generation Carulla FreshMarket 140
concept recognised by IGD Retail Anal-
ysis as one of the best stores worldwide.
CASINO GROUP — 2021 ANNUAL REPORT
INTERNATIONAL RETAIL
102 — 103
COLOMBIA
COLOMBIA
COLOMBIA
COLOMBIA
SURTIMAX
SUPER INTER
SURTIMAYORISTA
VIVA
Traditionally based in
Colombian big cities like
Bogotá and Medellin,
Surtimax is a popular “soft
discount” chain that sells
quality products at affordable
prices. It is also developing
a new discount store concept
under the Donde Max
banner. Its first three outlets
are performing well.
Super Inter is a regional banner
and the leading retailer
in Colombia’s Coffee region
and the southwest. It owes
its success to its competitive
offering of quality food products
and its recognised expertise in
food services. It is rapidly rolling
out Vecino, an innovative new
concept that already accounts
for over 40% of its outlets.
Operating like a supply hub for
professionals, wholesalers and
small retailers, cash & carry
banner Surtimayorista offers
a comprehensive selection
of low-price products centred
on fresh produce. Surtimayorista
uses efficient processes and
logistics suited to wholesale
purchases. It is pursuing
its expansion in Bogotá and the
northern half of the country.
Viva Malls is one of the retail
property leaders in Colombia.
Its local shopping centres and
malls serve nearly 1,100 retail
tenants and bring consumers
a variety of cultural, sports and
leisure activities. Seven of them
also played an essential role
in 2021 by opening their
doors to turn into Covid-19
vaccination centres.
STORES
72
EMPLOYEES
1,100
STORES
61
EMPLOYEES
2,700
STORES
36
EMPLOYEES
750
SHOPPING
CENTRES
AND MALLS
34
CASINO GROUP — 2021 ANNUAL REPORT INTERNATIONAL RETAIL
104 — 105
URUGUAY
URUGUAY
ARGENTINA
CAMEROON
DISCO
DEVOTO
LIBERTAD
BAO
Primarily operating in
the capital city of Montevideo
and in Punta del Este, Disco
supermarkets and hypermarkets
meet the needs of city dwellers
and holiday makers with a vast
food offering. Creator of the
FreshMarket store concept now
widely deployed in Colombia,
Disco continues to develop
this format, which showcases
fresh produce, snacks
and responsible consumption.
With its supermarkets and
Express convenience stores
primarily located in Montevideo
and Punta del Este, the banner
offers a quality food and non-
food range – mainly housewares
– centred on feel-good purchases.
A pioneer in e-commerce
and omnichannel innovation,
Devoto is stepping up its
cooperation with the start-up
ecosystem. Its WhatsApp
chatbot, a new sales channel
well regarded by customers,
has been introduced in other
Group countries.
In northern Argentina,
Libertad has developed
a network of hypermarkets
in large shopping centres that
attract customers to the malls
and also operates convenience
outlets situated in city centres.
To respond to new consumer
expectations, the banner deploys
the responsible FreshMarket
concept that was created in
Uruguay and an omnichannel
strategy aimed at accelerating
e-commerce sales.
An effective version of the Latin
American cash & carry concept,
Bao has been a huge commercial
success in the capital Douala.
The banner offers an assortment
of between 1,500 and 3,500 items
that retailers can buy in large
quantities to benefit from
the best possible prices. This
wholesale approach also
strengthens the banner’s appeal
to individual customers who
want access to low prices. Bao’s
model is being exported
beyond Cameroon thanks
to the signing of partnerships
with retailers in Libya and
the Central African Republic.
SUPERMARKETS
32
HYPERMARKETS
2
SUPERMARKETS
24
DEVOTO EXPRESS
35
STORES
25
SHOPPING MALLS
15
STORES
4
EMPLOYEES
185
CASINO GROUP — 2021 ANNUAL REPORT NEW BUSINESSES
106 — 107
GREENYELLOW
As an ally of companies and local authorities in the energy
transition, GreenYellow has developed a unique global
platform of complementary offers combining solar power,
energy efficiency and energy services, enabling its
customers to consume better and less. Already established
in France, Latin America, South-East Asia, the Indian Ocean and
Africa, GreenYellow is stepping up its international development.
COUNTRIES
16
SOLAR POWER PLANTS*
520
* Installed or being installed.
ENERGY PERFORMANCE
CONTRACTS*
3,100
INSTALLED CAPACITY*
740 MWp
HIGH-
LIGHTS
2021
Strengthened posi-
tions in all geographies,
notably due to the sign-
ing of the 200th Power
Purchase Agreement (PPA)
in South-East Asia account-
ing for 212 MW /// New mar-
kets captured with an initial
4 MWp project in Eastern Europe
completed for Solvay in Bulgaria
(one of the largest self-consump-
tion power plants in the country) ///
Implementation of large-scale projects:
UaaS in Colombia, extension of Mada-
gascar’s Ambatolampy power plant by
20 MW to reach 40 MW /// Signature of
a Corporate Power Purchase Agreement
with AWS in France /// Long-term
strategic partnership with Schneider
Electric to implement GreenYellow’s
turnkey energy efficiency programme
at large international companies.
CASINO GROUP — 2021 ANNUAL REPORT
NEW BUSINESSES
108 — 109
RELEVANC
Casino Group’s data science expert relevanC markets
a customised retail media solution under a white label
to retailers and advertisers worldwide. It helps
them speed up the monetisation of their data and advertising
spaces thanks to a tailored solution based on artificial
intelligence. relevanC also provides data and associated digital
marketing services to retailers and their partner brands.
EMPLOYEES
150
DATA & TECH EMPLOYEES
35%
CUSTOMERS
200
CONTINENTS
4
HIGH-
LIGHTS
2021
of
New business launched
in Latin America, par-
ticularly Brazil /// Launch
Infinity Advertising,
a partnership with Inter-
marché offering retail media
targeted advertising
services to food brands, thanks
to a common database of
17 million profiles /// A strategic
and
partnership signed with Google Cloud
and Accenture, whose support will help
relevanC accelerate the international
launch of its solutions for retailers ///
Obtention of Google Cloud “Premier
Partner” status /// Acquisition of Inlead,
which will allow relevanC to extend its
services and customer base to physical
sales outlets.
CASINO GROUP — 2021 ANNUAL REPORT
NEW BUSINESSES
110 — 111
SCALEMAX
C-LOGISTICS
OCTOPIA
ScaleMax sets up and operates
computing centres in
the Group’s storerooms and
warehouses and has a cloud
computing offering to handle
high-capacity operations
in finance, 3D animation,
modelling, artificial intelligence
and machine learning.
By powering servers with green
energy and reusing the heat
generated by processors to warm
buildings and reduce energy
bills, ScaleMax is providing
a fully green, sovereign and
economical computing solution.
C-Logistics offers its services
to brick-and-mortar and
e-commerce retailers to help
them develop their online
business. In full alignment with
Cdiscount’s B2B strategy,
C-Logistics, the logistics arm
of Cdiscount, is strongly
accelerating its commercial
development to become
the leader in e-3PL logistics.
C-Logistics ships 25 million
parcels every year, providing
state-of-the-art delivery in
27 European countries with
solutions combining speed,
flexibility and environmental
friendliness.
OPERATING SITES
2
PROCESSOR CORES OPERATED
27,000
WAREHOUSES
530,000 sq.m
PARTNER COMPANIES
30
Octopia has developed a comprehensive,
modular marketplace solution based on Cdiscount’s
tools and know-how. Thanks to its robust and
scalable technology, its catalogue of qualified vendors
and its logistical expertise, Octopia enables both
physical retailers and pure players to develop their
e-commerce activity. Octopia helps retailers
in Europe, Africa and the Middle East with
solutions adapted to each market.
VENDOR CATALOGUE
15,000
PARTNER COMPANIES
13
CASINO GROUP — 2021 ANNUAL REPORT OUR
PERFOR-
MANCE
P. 118
NON-FINANCIAL
INDICATORS
P. 114
FINANCIAL
RESULTS
P. 130
STORE
NETWORK
P. 128
SHARE
PERFORMANCE
INDICATORS
OUR PERFORMANCE
KEY FINANCIAL
INDICATORS
SALES AND RESULTS(1)
(in € millions)
Net sales
EBITDA(2)
Trading profit
Net profit (loss), Group share
Underlying net profit(3),
Group share
Group net debt(4)
France Retail net debt
excluding GreenYellow(4)
2021
30,549
2,527
1,193
(530)
94
(5,858)
(4,365)
2020
(restated)
31,912
2,738
1,422
(890)
266
(4,634)
(3,661)
(1) The 2020 financial statements have been restated to permit meaningful comparisons with 2021.
These restatements mainly result from the retrospective application of the IFRIC IC decision
relating to the recognition of liabilities for certain post-employment benefits. Leader Price, which
was sold on 30 November 2020, is presented as a discontinued operation in 2020 and 2021 in
compliance with IFRS 5.
(2) EBITDA = Earnings Before Interest, Taxes, Depreciation and Amortisation.
(3) Underlying net profit corresponds to net profit from continuing operations adjusted for the impact
of other operating income and expenses and the impact of non-recurring financial items as well
as tax expense/benefits related to these adjustments and the application of IFRIC 23 rules.
(4) Excluding IFRS 5.
PER-SHARE DATA(1)
(€)
Underlying diluted earnings
per share(2)
2021
0.54
2020
(restated)
2.15
(1) The 2020 financial statements have been restated to permit meaningful comparisons with 2021.
These restatements mainly result from the retrospective application of the IFRIC IC decision
relating to the recognition of liabilities for certain post-employment benefits. Leader Price,
which was sold on 30 November 2020, is presented as a discontinued operation in 2020 and
2021 in compliance with IFRS 5.
(2) Underlying diluted earnings per share includes the dilutive effect of the TSSDI deeply
subordinated perpetual bonds.
114 — 115
CHANGE IN CONSOLIDATED NET SALES
(in € millions)
France Retail
Monoprix
Casino Supermarkets
Franprix
Convenience & other
Hypermarkets
o/w Géant Casino
2021
14,071
4,408
2,996
1,438
1,788
3,442
3,233
2020
(restated)
15,219
4,537
3,069
1,579
2,199
3,836
3,620
Latam Retail
14,448
14,656
Assaí
GPA
Grupo Éxito
E-commerce
GROUP
(1) Excluding fuel and calendar effects.
6,568
4,184
3,695
2,031
6,095
4,924
3,637
2,037
30,549
31,912
Total
growth
Organic
growth(1)
-7.5%
-2.8%
-2.4%
-9.0%
-18.7%
-10.3%
-10.7%
-1.4%
+7.8%
-15.0%
+1.6%
-0.3%
-4.3%
-6.2%
-2.4%
-7.8%
-8.2%
-2.7%
-11.1%
-11.8%
+6.4%
+16.9%
-8.1%
+7.4%
-1.7%
+0.1%
CONSOLIDATED REVENUE
BREAKDOWN
BREAKDOWN OF NET SALES
FOR FRANCE RETAIL
46%
47%
23%
53%
47%
Latam Retail
46%
France Retail
7%
E-commerce (Cdiscount)
53%
Premium banners (Monoprix and
Supermarkets, including Casino
Supermarkets)
23%
Convenience banners (Franprix,
Casino Proximités and other)
24%
Hypermarket banners
(including Géant Casino)
CASINO GROUP — 2021 ANNUAL REPORT
OUR PERFORMANCE
EBITDA AND
TRADING PROFIT
116 — 117
GROUP EBITDA
(in € millions)
France Retail
Latam Retail
E-commerce (Cdiscount)
GROUP
EBITDA MARGIN
France Retail
Latam Retail
E-commerce (Cdiscount)
GROUP
2021
1,358
1,063
106
2,527
2021
9.7%
7.4%
5.2%
8.3%
2020
(restated)
1,447
1,161
129
2,738
2020
(restated)
9.5%
7.9%
6.4%
8.6%
The 2020 financial statements have been restated to permit meaningful comparisons with 2021.
These restatements mainly result from the retrospective application of the IFRIC IC decision
relating to the recognition of liabilities for certain post-employment benefits. Leader Price, which
was sold on 30 November 2020, is presented as a discontinued operation in 2020 and 2021 in
compliance with IFRS 5.
The 2020 financial statements have been restated to permit meaningful comparisons with 2021.
These restatements mainly result from the retrospective application of the IFRIC IC decision
relating to the recognition of liabilities for certain post-employment benefits. Leader Price, which
was sold on 30 November 2020, is presented as a discontinued operation in 2020 and 2021 in
compliance with IFRS 5.
GROUP TRADING PROFIT
(in € millions)
France Retail
Latam Retail
E-commerce (Cdiscount)
GROUP
TRADING PROFIT MARGIN
France Retail
Latam Retail
E-commerce (Cdiscount)
GROUP
2021
535
640
18
1,193
2021
3.8%
4.4%
0.9%
3.9%
2020
(restated)
621
748
53
1,422
2020
(restated)
4.1%
5.1%
2.6%
4.5%
The 2020 financial statements have been restated to permit meaningful comparisons with 2021.
These restatements mainly result from the retrospective application of the IFRIC IC decision
relating to the recognition of liabilities for certain post-employment benefits. Leader Price, which
was sold on 30 November 2020, is presented as a discontinued operation in 2020 and 2021 in
compliance with IFRS 5.
The 2020 financial statements have been restated to permit meaningful comparisons with 2021.
These restatements mainly result from the retrospective application of the IFRIC IC decision
relating to the recognition of liabilities for certain post-employment benefits. Leader Price, which
was sold on 30 November 2020, is presented as a discontinued operation in 2020 and 2021 in
compliance with IFRS 5.
CASINO GROUP — 2021 ANNUAL REPORT
OUR PERFORMANCE
NON-FINANCIAL
INDICATORS
Non-financial rating
Committed employer
118 — 119
Moody’s ESG
Solutions
S&P CSA
(DJSI)
FTSE4GOOD
Sustainalytics
MSCI
CDP
CONSOLIDATED WORKFORCE
BY COUNTRY
CONSOLIDATED WORKFORCE
BY AGE
74
72
71
69
70
70
71
67
The Group’s inclusion in these non-financial indices,
which comprise the top-performing companies
in terms of social, environmental and governance
criteria, demonstrates the depth of its commitment
to CSR.
In 2021, the Group was included in the Euronext
V.E and MSCI ACWI Food & Staples Retailing
indices.
4.1/5
4/5
4/5
3.9/5
In 2021, GPA was again listed in the Corporate
Sustainability Index (ISE B3) of the Brazilian Stock
Exchange in recognition of its climate, social and
governance commitments.
72
70
76
AA
AA
AA
AA
B
B
B
A-
RATING YEAR
2021
2020
2019
2018
Casino Group maintained its B rating on climate
protection from CDP.
53%
Brazil
26%
France
16%
Colombia
5%
Uruguay and Argentina
48%
30 to 50 years old
38%
Under 30 years old
14%
Over 50 years old
74% of the Group’s workforce is located in Latin America
and 26% in France.
Reflecting its commitment to bringing young people into the job
market, Casino has more than 78,600 employees under the age of 30.
WORKFORCE BY TYPE
OF CONTRACT
Group
France
Latin
America
6%
7%
6%
94%
93%
94%
A large majority of Casino Group employees
(94%) are on permanent work contracts.
% of workforce under permanent contracts
% of workforce under fixed-term contracts
CASINO GROUP — 2021 ANNUAL REPORT
OUR PERFORMANCE
120 — 121
WORKFORCE BREAKDOWN
BY FULL-TIME/PART-TIME EMPLOYMENT
Group
France
Latin
America
15%
12%
24%
85%
76%
88%
Full-time employees account for 85% of Group
employees.
% of workforce in full-time employment
% of workforce in part-time employment
PERCENTAGE OF WOMEN
IN TOTAL WORKFORCE
Group
France
Latin
America
PERCENTAGE OF WOMEN
IN MANAGEMENT
2025
target
Group
France
Latin
America
52%
55%
50%
45%
41%
43%
34%
Having met its commitment to increase the number
of women in management by 5 percentage points
between 2015 and 2020, the Group has now set
a target for women to hold 45% of management
positions by 2025.
The increase in the number of female executives
within the Group is one of the two CSR criteria
taken into account in the variable compensation
of executives in France and Brazil.
The Group is active on the full range of workplace
equality issues, including gender diversity across job
categories, career management services for women,
fairness in human resources processes (pay, training,
hiring and promotions) and parenthood. Casino
was awarded the “Afnor Workplace Equality Label”
in 2013.
In 2016, the Group adopted the Women’s
Empowerment Principles backed by UN Women.
CHANGE IN THE NUMBER OF GROUP EMPLOYEES
WITH DISABILITIES
4.5%
4.1% 4.2%
3.8% 3.9%
3.4%
3.2%
3.0%
The Group employs 8,770 people with disabilities,
an increase of 32% since 2015, a positive outcome
of programmes in place for several years. The Group
has therefore met its objective of increasing the number
of employees with disabilities by 1 percentage point
between 2015 and 2020, from 3% to 4.1% of the
workforce, and is targeting 4.5% in 2025.
2015
2016
2017
2018
2019
2020 2021
2025
Group (France and Latin America)
Objective
Local corporate citizen
DONATIONS OF FOODSTUFFS IN MEAL
EQUIVALENTS(1) – In millions
2021
2020
2019
+26%
0
10
20
30
40
50
60
70
Donations from stores and warehouses
Collection from customers
(1) Data excludes Disco Devoto.
In 2021, the equivalent of over 65 million meals
was donated to food banks or other social welfare
organisations (including the nationwide customer
campaign).
Donations from stores and warehouses rose by 38%
from 2020.
The Group first partnered with the French food
bank federation (Fédération Française des Banques
Alimentaires – FFBA) in 2009, and renewed
the alliance for a further three years in 2019.
CASINO GROUP — 2021 ANNUAL REPORT OUR PERFORMANCE
122 — 123
FUNDS DISTRIBUTED FOR COMMUNITY OUTREACH
(DONATIONS AND FOUNDATIONS)(1) – In € millions
ANIMAL WELFARE
PALM OIL
NUTRI-SCORE
2021
2020
2019
0
20
40
60
80
100
120
(1) Foundation budgets, collection and donations (stores, warehouses and customers).
Trusted partner and responsible retailer
NUMBER OF PRIVATE-LABEL ORGANIC PRODUCTS
The Group distributed the equivalent of more than
€104 million for community outreach in 2021.
Nearly 105,000 people benefited from initiatives
led by Casino Group’s four foundations in 2021.
of eggs sold
came from
cage-free hens
in France
RSPO-certified
palm oil
in France
Casino
products bear
the Nutri-Score
label
100%
100%
100%
In 2020, the Group discontinued the sale
of eggs from caged hens in France (under
private labels and national brands). Casino
has already committed to going a step further
by pledging to eliminate egg products from caged
hens in all its private-label products by 2025.
GPA has also committed to discontinuing
the sale of eggs from caged hens under its
private labels by 2025. In addition, the Group
is continuing to roll out animal welfare labelling
on its products.
The Group joined the Roundtable on
Sustainable Palm Oil (RSPO) in 2011,
while in France it pledged to use only
RSPO-certified palm oil starting in 2020,
prioritising crops certified to “Segregated”
or “Identity Preserved” standards, which
offers the added advantage of being able
to trace the palm oil to its source.
Since 2021, all Casino products are
Nutri-Score labelled, with 60% rated
A, B or C.
2021
2020
2019
0
500
1,000
1,500
2,000
2,500
3,000
To support organic farming and reduce the use
of pesticides, Casino Group is extending its
range of certified organic products, with nearly
2,870 private-label brands in 2021, an increase
of 6% compared with 2020.
The Group generated sales of €1.2 billion
with private-label and national brand organic
food products in 2021.
PARENT COMPANY AUDITS
1,187 social audits
1,187 social audits were carried out in factories
involved in the production of private-label
products in 2021, including 83% commissioned
by Casino Group.
83%
Audits directly commissioned
by the Group
17%
Audits commissioned
by another ICS member
CASINO GROUP — 2021 ANNUAL REPORT
OUR PERFORMANCE
124 — 125
Environmentally proactive Group
CHANGE IN THE GROUP’S GREENHOUSE
GAS EMISSIONS – In tonnes of CO2 equivalent
As signatory to the Science Based Target initiative, Casino Group takes up the following commitments in line with international objectives:
– 18% reduction in Scope 1 and Scope 2 greenhouse gas emissions by 2025 compared with 2015, and 38% by 2030 compared with 2015;
– 10% reduction in Scope 3 emissions between 2018 and 2025 in the categories “product and service purchases” and “use of products sold”,
which account for more than 65% of indirect emissions.
The emissions associated with refrigerants and energy used by buildings represent around 91% of its Scope 1 and 2 greenhouse gas emissions
(GHG) in 2021.
The Group reduced its Scope 1 and 2 greenhouse gas emissions between 2015 and 2021 by 20%, with a 47% decrease in France. The 12% drop
in emissions between 2020 and 2021 was mainly due to the use of refrigerant gases with a lower impact on the climate and a reduction
in the carbon footprint of the transport of goods.
2021
2020
2015
-20%
0
200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000
BREAKDOWN OF SCOPE 1 + 2 GREENHOUSE
GAS EMISSIONS
65%
Refrigerants
26%
Building energy consumption
4%
Transport of goods under operational
control between warehouse and shops
4%
HVAC coolants
0.5%
Business travel
CHANGE IN GREENHOUSE GAS EMISSIONS IN FRANCE
In tonnes of CO2 equivalent
2021
2020
2015
-47%
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
(1)
Scope 1
Scope 2
(2)
(1) Scope 1 includes greenhouse gas emissions from energy consumed directly by the Group, emissions from leakages of refrigerants used in cooling cabinets in stores,
warehouses and air conditioning systems, emissions related to the transport of goods under operational control and employee business travel using company vehicles.
(2) Scope 2 emissions or indirect emissions relate to the Group’s energy consumption, which mainly concerns electricity consumption.
GREENHOUSE GAS PERFORMANCE VS. GROUP TARGETS – SCOPES 1 + 2
1,800,000
1,600,000
1,400,000
1,200,000
2015
2016
2017
2018
2019
2020 2021
2022
2023
2024 2025
Group Performance
Group trajectory: SBT target of -18% by 2025
Group trajectory: target of -38% by 2030
The Group’s performance is in line with its SBT
commitments for Scopes 1 and 2 and its goal
of reducing emissions by 38% by 2030 (compared
to 2015).
CASINO GROUP — 2021 ANNUAL REPORT
OUR PERFORMANCE
126 — 127
PERCENTAGE OF WASTE RECOVERED AND REUSED(1)
CHANGE IN ENERGY EFFICIENCY BY GROUP STORES
In kWh/sq.m of retail space
Group waste
recovered
54%
Group waste
recovered in France
78%
2018
2021
The volume of recovered store and warehouse waste increased by more than 21% between 2018
and 2021. Cardboard accounts for more than 65% of all recovered waste.
(1) Non-hazardous store waste.
CHANGE IN THE VOLUME OF WASTE(1) RECOVERED – In tonnes
2021
2020
2019
0
50,000
100,000
150,000
200,000
250,000
300,000
Cardboard
Organic waste
Plastic
Other non-hazardous waste
(2)
(1) Non-hazardous store waste.
(2) Mainly wood, bone and tallow, used cooking oils, scrap and metal, and non-hazardous industrial waste for 2020 and 2021.
700
600
500
400
300
200
100
0
547
540 529
477
471
448
602
593
590
The observed improvements in electricity use per sq.m
are attributable to the ongoing roll-out of energy
performance contracts in all countries and the
implementation of energy management systems
in accordance with ISO 50001 recommendations.
The Group’s average electrical intensity declined
by 3% between 2019 and 2021. 37% of the electricity
consumed comes from renewable energy sources.
The Group produced almost 70 GWh of green
electricity through its facilities operating in 2021.
Group
France
Latin America
2019
2020
2021
Methodology note
Unless otherwise specified, the human resources, societal and environmental data concern all entities under the operational control of Casino Group
and any of its majority-held subsidiaries, in France and abroad. Data concerning affiliates, franchises and managers of stores under lease are not
included. The 2021 CSR reporting scope includes the consolidated data of store activity and the associated support services (logistics, purchasing,
human resources, etc.) of business units located in:
– France, comprising operations under the Casino, Monoprix (including Naturalia), Cdiscount and Franprix banners;
– Brazil, encompassing the operations of Pão de Açúcar (GPA) and Assaí;
– Colombia, comprising Grupo Éxito operations;
– Uruguay, comprising Grupo Disco and Devoto operations;
– Argentina, comprising Libertad operations.
Environmental data cover sites that operated over a full 12-month period.
The indicators given per square metre of retail space only cover the data reported by stores.
The Scope 1 and 2 greenhouse gas emissions presented above cover the entire CSR reporting scope:
– In 2021, primary data integrated into Scope 1 represented 97% of this data, i.e., an estimated 3%, including Naturalia’s refrigerants.
– In 2021, primary data integrated into Scope 2 represented 96% of this data, i.e., an estimated 4%.
The emission factors were reviewed and updated in 2021. Emissions are presented using a “current” emission factor approach, i.e., the emission
factors for year Y are maintained from one year to the next and not updated retroactively in order to present a carbon footprint that is as close as
possible to the energy and climate reality.
CASINO GROUP — 2021 ANNUAL REPORT OUR PERFORMANCE
128 — 129
SHARE PERFORMANCE
INDICATORS
Casino share price at 31 December 2020
€25.19
35
30
25
20
CASINO
-8.1%
CAC 40
+28.9%
Casino share price
at 31 December 2021
€23.15
OWNERSHIP STRUCTURE AT 31 DECEMBER 2021
No. of shares
Voting rights
Number
%
Number
%
Public
50,090,518
46.20%
52,861,336
36.14%
Rallye group (including Fiducie Rallye-Equitis Gestion)
56,716,271
52.31%(1)
90,747,885
62.04%(1)
Casino Group employee mutual funds
Treasury shares
TOTAL
1,209,474
409,967
108,426,230
1.12%
0.38%
100%
2,252,298
409,967
146,271,486
1.54%
0.28%
100%
(1) Of which 11.74% is in share capital and 8.70% is in voting rights held in fiduciary trust by Fimalac.
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEPT
OCT
NOV
DEC
FIVE-YEAR SHARE PERFORMANCE
(in € millions)
12-month high-low (at closing)
High (€)
Low (€)
Closing price at 31 December (€)
NET DIVIDEND PER SHARE (€)
2021
2020
2019
2018
2017
29.40
19.90
23.15
0.00(1)
42.10
19.30
25.19
0.00
49.50
27.90
41.70
0.00
53.30
26.5
36.34
3.12
56.90
46.50
50.56
3.12
Source: Bloomberg, Euronext.
(1) 2021 income appropriation will be submitted to a vote at the AGM to be held to approve the 2021 financial statements.
SEVERAL MAJOR SUBSIDIARIES ARE ALSO PUBLICLY LISTED:
• CBD (Brazil) on the Brazilian stock exchange (segment B3) and the NYSE (USA),
• Assaí (Brazil) since 1 March 2021 on the Brazilian stock exchange (segment B3) and the NYSE (USA),
• Éxito (Colombia) on the BVC (Bolsa de Valores de Colombia),
• Cnova (Netherlands) on Euronext Paris.
ELIGIBLE
for deferred settlement under the Euronext Paris SRD system
and for inclusion in a French PEA equity savings plan
SHARES OUTSTANDING
108,426,230 at 31 December 2021
MARKET CAPITALISATION
€2.51 billion as at 31 December 2021
STOCK EXCHANGE
Euronext Paris (Compartment A)
SYMBOL
– ISIN: FR0000125585
– Bloomberg: CO FP
– Reuters: CASP. PA
INDICES
– Benchmark
CAC 40, CAC Mid 60, SBF 120, SBF 250, Euronext 150
– Sector
DJ Stoxx and DJ Euro Stoxx Retail
– Socially responsible investing
• FTSE4Good
• Euronext Vigeo indices: Eurozone 120, Europe 120
• Ethibel Sustainability Index (ESI) Excellence Europe
• MSCI ACWI ESG Leaders Index and MSCI ACWI SRI Index
• STOXX® Global ESG Leaders indices
The Casino share price is displayed in real time under “Casino share” in the Investors section
of the corporate website: groupe-casino.fr/en.
CASINO GROUP — 2021 ANNUAL REPORT OUR PERFORMANCE
FRENCH STORE
NETWORK
Géant Casino hypermarkets
o/w affiliates/franchises
o/w international affiliates
Casino supermarkets
o/w French affiliates/franchises
o/w international affiliates/franchises
Monoprix
o/w affiliates/franchises
o/w Naturalia integrated stores
o/w Naturalia franchises
Franprix
o/w franchises
Convenience
o/w franchises
Other businesses
Indian Ocean
Number of stores
at 31 December
Retail space
(in thousands of sq.m)
2020
105
2019
109
2021
692
2020
740
2019
772
4
7
419
71
24
799
192
184
32
872
479
4
6
411
83
22
784
186
182
23
877
459
720
668
667
769
746
741
336
347
352
5,206
5,139
754
710
701
4,450
4,321
233
0
367
259
n/a
0
n/a
0
n/a
122
2021
95
3
7
429
61
26
838
206
198
51
942
614
5,728
4,986
286
0
TOTAL FRANCE
8,318
7,634
7,946
3,272
3,211
3,355
130 — 131
INTERNATIONAL
STORE NETWORK
Brazil
Extra hypermarkets
Pão de Açúcar supermarkets
Extra and Mercado Extra supermarkets
Compre Bem supermarkets
Assaí (cash & carry)
Mini Mercado Extra and Minuto Pão de Açúcar
mini-supermarkets
Drugstores
+ Service stations
Colombia
Éxito hypermarkets
Éxito and Carulla supermarkets
Super Inter supermarkets
Surtimax (discount)
o/w Aliados
Cash & carry
Éxito Express and Carulla Express
Argentina
Libertad hypermarkets
Mini Libertad and Petit Libertad mini-supermarkets
Uruguay
Géant hypermarkets
Disco supermarkets
Möte (Disco textile)
Devoto supermarkets
Devoto Express mini-supermarkets
Cameroon
Bao (cash & carry)
Number of stores
at 31 December
Retail space
(in thousands of sq.m)
2021
1,021
2020
2019
1,057
1,076
2021
1,974
2020
2,005
2019
1,963
72
181
146
28
212
240
68
74
103
182
147
28
184
236
103
74
112
185
153
28
166
237
123
72
454
234
165
33
964
59
9
59
638
234
165
33
809
58
9
58
683
237
172
33
713
58
9
58
2,063
1,983
2,033
1,013
1,010
1,030
91
158
61
1,632
1,560
92
153
69
1,544
1,470
92
158
70
1,588
1,496
36
85
25
15
10
94
2
30
2
24
36
4
4
34
91
25
15
10
93
2
30
2
24
35
2
2
30
95
25
15
10
91
2
29
0
24
36
1
1
483
206
59
212
35
16
104
102
2
92
16
35
0.4
34
7
3
3
485
204
66
205
34
17
106
104
2
92
16
35
0.4
34
6
2
2
485
210
66
221
31
17
106
104
2
90
16
33
0
34
7
2
2
TOTAL INTERNATIONAL
3,207
3,160
3,226
3,186
3,215
3,191
CASINO GROUP — 2021 ANNUAL REPORT The 2021 Universal Registration
Document and our CSR progress reports
are available on
groupe-casino.fr
CONTACTS
Communication and External Relations
Phone: + 33 (0)1 53 65 24 29
E-mail: directiondelacommunication@groupe-casino.fr
Financial Communication and Investor Relations
Phone: + 33 (0)1 53 65 64 17
E-mail: IR_casino@groupe-casino.fr
Corporate Social Responsibility (CSR)
Phone: + 33 (0)1 53 70 51 97
Group website
groupe-casino.fr/en
SHAREHOLDER RELATIONS
1, cours Antoine Guichard
CS 50306 – 42008 Saint-Étienne Cedex 1, France
Website: groupe-casino.fr/en/
E-mail: actionnaires@groupe-casino.fr
Toll-free number: 0800 16 18 20
(calls made from France only)
To convert bearer shares to registered shares, contact
the financial intermediary handling the shares concerned,
who will in turn register them with:
BNP Paribas Securities Services – GCT
Shareholder Relations
Grands Moulins de Pantin
9, rue du Débarcadère 93761 Pantin Cedex, France
Phone: + 33 (0)1 40 14 31 00
Authorised agent for management of shareholder registration.
CASINO, GUICHARD-PERRACHON
Share capital of Casino, Guichard-Perrachon:
165,892,131.90 euros
Registered office
1, cours Antoine Guichard
CS 50306 – 42008 Saint-Étienne Cedex 1, France
Phone: + 33 (0)4 77 45 31 31
Fax: + 33 (0)4 77 45 38 38
The Company is registered in Saint-Étienne Cedex 2
under no. 554 501 171.
Paris office
148, rue de l’Université
75007 Paris, France
Phone: + 33 (0)1 53 65 25 00
PUBLISHED BY
Corporate Communication Department
Design and creation
Photo credits
Printed by
Jean-Philippe Moulet, Andrés Mayr, Casino Group Internal Photo Library
A-Print – Paris
Printed at an Imprim’Vert-certified print shop
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