Facing the brunt of investors as debts pile up, the French retailer Casino is hunting ways to improve their cash flow and balance sheet.
According to the global news agency Reuters, the French retailer Casino has redefined their goals for asset disposals and have pledged to push for profits and improve cash-flow through a three-year strategic plan.
This plan focuses on the immediate measures that the company can take to trigger profits. The company is considering everything in its way including energy services, monetization of client data, making savings from purchase contracts, and streamlining their online retail and even physical convenience stores.
Eyeing at a 10 percent year-on-year growth in profits from trading for three years (2019 to 2021) the company hopes to generate 500 million euros ($566 million) yearly cash flow.
These actions were long due since in March 2016, Standard & Poor’s punished the Company’s credit ratings due to the high debts. In a desperate bid to improve the financial status, the French casino is throwing all these new strategies and targets.
The company aims at disposing of over 2.5 billion worth of non-strategic assets by the end of 2020. According to Reuters, they have justified their targets by claiming that they had already achieved disposing non-strategic assets worth 1.5 billion in January, ahead of schedule and “in light of indicative offers received for other assets.”