Cnova (FR:CNV) has released an update.
Cnova, amid a challenging macro-economic climate, reports a 10% dip in overall GMV for Q2, mirroring Q1 results, while successfully enhancing its marketplace mix over 50% for the first time and doubling its advertising services revenues since pre-pandemic levels. The company has also witnessed significant B2B growth, securing 11 new contracts for Octopia and 31 for C-Logistics. To align with current market realities, Cnova has implemented a €75m Efficiency Plan aimed at cost structure adjustment, which is projected to save over €30m in the second half of the year.
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