Carrefour Brasil is owned by Carrefour SA. $1 = 3.9208 reais
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Last year, Carrefour and Casino were locked in a dispute after Casino said it had rejected a tie-up approach from Carrefour, that Carrefour denied making.
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Carrefour will keep two out of seven seats on the board of Carrefour China.
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Carrefour Brasil, the Brazilian unit of France's Carrefour SA, is one of Brazil's largest retailers.
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Carrefour said on Thursday it finalised the sale of 80% of Carrefour China to Chinese company Sunning.com.
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Diniz is now a board member at Carrefour SA. Carrefour in Brazil could not immediately be reached for comment.
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Carrefour has announced a potential deal with Tencent and local retailer Yonghui to take a stake in Carrefour China.
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The Carrefour deal is tipped to up the arms race as Carrefour China's retail presence could boost Suning's offline reach.
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Carrefour kept its annual dividend unchanged at 0.46 euros and raised some of its targets under its "Carrefour 13" plan.
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Carrefour kept its annual dividend unchanged at 0.46 euros and raised some of its targets under its "Carrefour 2022" plan.
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Casino came out in September 2018 saying it had rejected a tie-up approach from Carrefour, which Carrefour denied making.
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"Suppliers to Carrefour might think if any of Tesco's attitude in dealing with suppliers rubs off on Carrefour – that's a positive thing," he said, adding Tesco could recommend its private-label suppliers to Carrefour and vice versa.
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Overall, the company plans to open 20 wholesale stores in 103, 10 Carrefour Market stores, and 20 Carrefour Express convenience stores.
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Diniz left GPA in 2013 and, after buying shares in Europe, is an influential shareholder in Carrefour SA, locally present through Grupo Carrefour Brasil .
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A source told Reuters that Suning had been interested in both Metro and Carrefour China businesses, compared the two, and found Carrefour China cheaper.
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SAO PAULO (Reuters) - Shares in Grupo Carrefour Brasil SA dropped the most since they went public in July, after Brazil's largest diversified retailer unexpectedly replaced chief executive Charles Desmartis with a 33-year veteran of parent Carrefour SA. In a Friday statement, Carrefour Brasil (CRFB3.
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"Consumer trends are changing, and Carrefour is adapting accordingly," said Benoit de Broissia, analyst at Paris-based investment firm Keren Finance, which owns Carrefour shares.
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Carrefour also said at the time that Tencent and Yonghui , a retailer specializing in fresh food and small stores, could take a stake in Carrefour China.
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Carrefour also said at the time that Tencent and Yonghui , a retailer specialising in fresh food and small stores, could take a stake in Carrefour China.
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Carrefour has started searching for a successor to its chairman and chief executive Georges Plassat, whose mandate at the helm of Carrefour expires in May 2018.
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Carrefour also said at the time that Tencent and Yonghui, a retailer specializing in fresh food and small stores, could take a stake in Carrefour China.
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"This game of poker is likely to benefit Casino rather than Carrefour as it underlines Casino's underlying attractiveness and value," said Mokdad, whose firm owns Carrefour shares.
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"The talks that have started since January 2018 for the sale of a minority stake (in Carrefour China) to Tencent are over," a spokeswoman for Carrefour said.
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"My mission is to be in the winners' camp and the transformation we are conducting will put us among winners," Last year, Carrefour and French rival Casino were locked in a dispute after Casino said it had rejected a tie-up approach from Carrefour that Carrefour denied making.
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"My mission is to be in the winners' camp and the transformation we are conducting will put us among winners," Last year, Carrefour and French rival Casino were locked in a dispute after Casino said it had rejected a tie-up approach from Carrefour that Carrefour denied making.
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At the time, Carrefour also announced the potential acquisition of a stake in Carrefour China by Tencent, and Yonghui, a retailer specialized in fresh food and small formats.
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Further down the supply chain, food retailers such as GPA and Carrefour Brasil, owned by France's Casino Guichard Perrachon SA and Carrefour SA , respectively, will also feel the pinch.
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You may not know this, but our firm was created by ... Yves Sisteron was the head of North American investments for a retail company called Carrefour, if you know Carrefour.
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CARREFOUR: Carrefour CEO Alexandre Bompard on Thursday expressed confidence in his turnaround strategy after Europe's largest retailer posted a stronger-than-expected 5.8 percent rise in first-half operating profits.
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"We see it as a positive catalyst for the stock...Using Bompard's expertise would enable Carrefour to move faster," said Kepler Cheuvreux analysts, who have a "buy" rating on Carrefour.
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The local subsidiary of French retailer Carrefour SA expects sales of organic food to hit 500 million reais ($131 million) by 2022, according to Carrefour Brasil's head of sustainability, Lucio Vicente.
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SAO PAULO, Sept 22 (Reuters) - Grupo Carrefour Brasil SA has named Noël Prioux as chief executive officer, as the Brazilian unit of Carrefour SA expands operations after an initial public offering.
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"Carrefour is constantly looking for ways to deliver innovative services that make customers' daily shopping experience easier," said Amélie Oudéa-Castéra, Executive Director of E-commerce, Data and Digital Transformation at Carrefour.
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The local subsidiary of French retailer Carrefour SA expects sales of organic food to hit 500 million reais ($131 million) by 2022, according to Carrefour Brasil's head of sustainability, Lucio Vicente Silva.
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In 2013, Groupe Arnault and Colony decided to abandon the joint structure and split their stake in Carrefour between them while continuing to carry out a concert and a common policy toward Carrefour.
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Eventually, Carrefour could roll out the service in its stores.
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Carrefour employs over 360,000 people worldwide, including 115,000 in France.
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Bompard will unveil his strategy for Carrefour on Jan. 23.
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Carrefour Brasil's online sales increased 44.2% in the same comparison.
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The Carrefour in Uganda will be its first investment there.
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In July, France's Autorité de la Concurrence started investigating a series of purchasing alliances between grocers, such as that between Carrefour and Système U. For Carrefour and Casino, too, the real world may intrude.
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Deutsche Bank expects the IPO proceeds to strengthen Carrefour Brazil's balance sheet "by reimbursing gradually between 500 million and 1 billion euros of intercompany debt with Carrefour," and help fund possible acquisitions in Brazil.
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"You are building a halo effect - 'If I can trust Carrefour with this chicken, I can also trust Carrefour for their apples or cheese,"' Emmanuel Delerm, Carrefour's blockchain project manager, told Reuters at a conference.
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PARIS, Dec 5 (Reuters) - French retailers Carrefour and Fnac Darty announced a purchasing partnership for domestic appliances and consumer electronics in France, as Carrefour undertakes plans to cut costs in order to boost its earnings.
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Desmartis agreed to part ways with France's Carrefour, the statement said.
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Shares of Carrefour shed 0.8 percent to 23.875 euros on Friday.
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SAO PAULO (Reuters) - The Brazilian unit of retailer Carrefour SA (CARR.
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JP Morgan cut its rating on Carrefour to "neutral" from "overweight".
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The most recent customer for the service is Carrefour in France.
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Carrefour and Fnac-Darty could not be immediately reached for comment.
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Carrefour Brasil recently trumped GPA as Brazil's No. 1 diversified retailer.
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Carrefour has an in-store partnership with electronics retailer Fnac Darty.
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Neither Carrefour nor Provera responded to Lasserre's comments to the commission.
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Carrefour representatives did not immediately respond to a request for comment.
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Carrefour shares closed up 0.04 percent at 23.59 euros on Tuesday.
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Carrefour touched a five-month high with a 3.2 percent rise.
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Garnier also previously oversaw Carrefour France's supermarkets and its international operations.
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A Carrefour spokesman said there was no offer on the table.
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Current customers include the likes of Kohl's, Lowe's and France's Carrefour.
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Carrefour achieved a recurring operating profit of 2.006 billion in 2017.
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Orders are prepared in Carrefour Paris stores and delivered by bike.
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The Carrefour in Uganda will be the company's first investment there.
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Analysts said any merger between Carrefour and Casino was bound to attract close scrutiny by competition regulators, given Carrefour is France's second-largest chain with a 20 percent market share and Casino has nearly 12 percent.
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Deutsche Bank analysts cut their 2018/2020 earnings per share estimates on Carrefour by 2 percent on average, while Barclays said it was lowering its earnings per share estimates on Carrefour by 6 percent on average.
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"The talks that have started since January 2018 for the sale of a minority stake (in Carrefour China) to Tencent are over," a Carrefour spokeswoman said, but a strategic business partnership with Tencent remained in place.
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BRASILIA, Dec 3 (Reuters) - Carrefour Brasil, one of Brazil's largest retailers owned by Carrefour SA, sees an increase of up 5 percent in Christmas shopping sales compared to last year, the chief executive officer said on Monday.
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Supermarket chain Carrefour sells pre-cooked snails in a sauce and frozen.
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PA), is set to be appointed CEO of French retailer Carrefour (CARR.
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Carrefour said it was sticking to those targets in its strategy plan.
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Last month, Kingfisher said that the Carrefour veteran would replace Véronique Laury.
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Carrefour representatives in Argentina declined to comment when asked about the deal.
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Carrefour Brasil, like many retailers in Brazil, is undergoing an expansion drive.
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In March, Carrefour reported its first fall in operating profit since 2012.
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A Carrefour spokeswoman said that the group was satisfied with the agreement.
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Analysts at brokerage Bryan Garnier kept a "buy" rating on Carrefour shares.
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Carrefour Brasil's results reflect two competing dynamics in Brazil's food retail sector.
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HONG KONG (Reuters Breakingviews) - Carrefour is beating a dignified retreat from China.
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Casino declined to comment and Carrefour was not immediately available for comment.
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PARIS (Reuters) - Carmila, the property unit of Europe's largest retailer Carrefour (CARR.
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Irate Chinese internet users accused Carrefour of supporting pro-Tibetan independence groups.
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"With this new partnership, Glovo and Carrefour will offer a 30-minute home delivery service that complements their existing e-commerce offers and allows them to address the needs of new customers," said Carrefour director Amélie Oudéa-Castéra.
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PARIS, July 17 (Reuters) - French supermarket retailer Carrefour has signed a fast home delivery service with Spanish start-up company Glovo, as Carrefour looks to deal with growing competition from the likes of Amazon and other domestic rivals.
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He is currently a member of the Carrefour group executive committee and CEO of Carrefour Asia, where he is responsible for over 350 stores in China and Taiwan, with 55,000 employees, and gross sales of over 6 billion euros.
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Carrefour said it was sticking to the financial targets laid out in its 'Carrefour 2022' plan, which also includes expanding into convenience stores to cut its exposure to large hypermarket stores and having more organic products and private labels.
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Looking further across the European benchmark, Carrefour led the gains, up 8.89 percent.
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Carrefour reports results after the close of the Paris stock market on Wednesday.
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Carrefour warned last month that operating profit may fall 12 percent this year.
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Alexandre Bompard, the former chief executive of Fnac-Darty joined Carrefour in July.
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Global retail giants Tesco and Carrefour are among the partners in the region.
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But he said Tesco and Carrefour now have a strong incentive to succeed.
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The French retailer Carrefour also jumped 2.5 percent after increasing its savings goals.
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It brings the Diniz family stake in Carrefour to 8.05 percent, it said.
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Carrefour Brasil' shares were down 0.5% in early afternoon trading at 18.99 reais.
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The French government said on Wednesday it was taking retail giant Carrefour CARR.
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Carrefour is retaining a 20% stake, which suggests they see some potential upside.
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CAC 40 FUTURES FCEc1 DOWN 0.1 PCT World No 2 retailer Carrefour CARR.
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AL-FUTTAIM GROUP TO ENTER UGANDAN MARKET BY OPENING CARREFOUR HYPERMARKET ON DEC.
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AL-FUTTAIM GROUP TO OPEN SEVEN CARREFOUR HYPERMARKETS IN UZBEKISTAN IN 2020 - CEO
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Instead, the Suning deal will give Carrefour "several liquidity windows to sell its remaining 20% stake in Carrefour China," according to a statement provided to the FT. That's the interesting power swing, Carrefour's allegiance appears to have moved from away Tencent.
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Carrefour General Secretary Laurent Vallee said Loop would tie in with a broader strategy overhaul at Carrefour to focus more on areas such as fresh local produce and organic food, under a global five-year plan to boost sales and profits.
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The retailer plans to offer at all its locations in Brasil by the end of 2018 the option to purchase items online and pick them up in person at a Carrefour store, said Paula Cardoso, head of Carrefour Brasil's financial division.
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CARREFOUR French supermarket group Carrefour said on Wednesday it had agreed to sell its stake in Cargo, a real estate company that owns some of its distribution centres, to property vehicle Argan as it ploughs ahead with planned asset sales.
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However, Carrefour Brasil's more traditional retail formats, known collectively as Carrefour Varejo, also posted strong same-store sales, growing 3 percent from the same period last year, which the company attributed in part to the firm's rapidly growing e-commerce segment.
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PA) said it had rejected a tie-up approach from larger rival Carrefour (CARR.
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Unlike rivals DIA and Carrefour, the chain has shunned acquisitions, preferring to grow organically.
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Carrefour shares rose around 2500 percent, their biggest one-day gain since October 2800.
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Iranian and Turkish produce is prominent on the shelves of the downtown Doha Carrefour.
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Big clients include Carrefour, Galeries Lafayette, Quick, Sodexo, Eiffage, Total, Monceau Fleurs and more.
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Carrefour will hold 16.86 percent of the capital and 13.67 percent of voting rights.
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"It also allows Carrefour to enter the online private market and strengthen its offering".
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Carrefour Brasil and Makro did not immediately reply when contacted by Reuters seeking comment.
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However, it pays a higher dividend than peers such as Carrefour or Britain's Tesco.
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Carrefour also warned that its 2017 operating profit could fall by around 12 percent.
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O). Traditional retailers around the world, such as Carrefour, its French rival Casino (CASP.
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Barclays has an "equal weight" rating on Carrefour and an "underweight" rating on Casino.
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The appointment of Prioux, a Carrefour veteran of 33 years, takes effect Oct. 2.
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A Carrefour spokesperson said it normally gives textile bags but had temporarily run out.
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Carrefour shares have slumped 36 percent since Bompard became CEO on July 18, 2017.
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PARIS (Reuters) - Private equity firm Colony Capital has exited the capital of Carrefour (CARR.
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"You can't expect Carrefour [a giant retail/supermarket chain] to become Amazon," he said.
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Carrefour shares are down nearly 30 percent so far in 2017 - underperforming European rivals.
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Separately a Carrefour spokeswoman said that "no particular announcement" was expected at the Nov.
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He will unveil his strategy for Carrefour, best known for its hypermarkets, on Jan.
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The little Carrefour neighborhood grocery around the corner from my apartment was fully stocked.
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CARREFOUR SPOKESWOMAN SAYS THERE IS NO DRAFT OFFER FOR CASINO ON THE TABLE EITHER
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Carrefour also faces pressure in France from discounting at rivals such as unlisted Leclerc.
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Carrefour veteran Thierry Garnier will succeed Véronique Laury as Kingfisher CEO on Sept. 25.
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Carrefour added 4.8% after the French retailer reported a rise in fourth-quarter sales.
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"Walmart's (e-commerce) operation has been shrinking for a while now, but we are prepared to direct their consumer traffic to Carrefour," Chief Executive Officer of Carrefour eBusiness Brasil, Paula Cardoso, told journalists on Friday in a call to discuss quarterly results.
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The probes cover purchasing alliances between France's Auchan, Casino, Germany's Metro and France's Schiever on the one hand, and one between Carrefour and Systeme U. The probe on that last alliance was also widened to include the tie-up between Carrefour and Tesco.
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"Walmart's (e-commerce) operation has been shrinking for a while now, but we are prepared to direct their consumer traffic to Carrefour", Chief Executive Officer of Carrefour eBusiness Brasil, Paula Cardoso, told journalists on Friday in a call to discuss quarterly results.
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They were down 1.9 percent by 13 GMT, while Carrefour shares were up 0.5 percent.
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Garnier has spent 20 years in senior roles at Carrefour , the French multi-national retailer.
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From October onwards Carrefour will also integrate Loop in its own e-commerce website www.Carrefour.
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PA), Germany's Metro and France's Schiever on the one hand, and one between Carrefour (CARR.
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Shares of Carrefour fell 1.2 percent to 22.855 euros in late afternoon trading in Paris.
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Carrefour shares have gained 3 percent so far this year, underperforming their sector in Europe.
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Casino said late on Sunday it had been approached by Carrefour about a tie-up.
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It examined 100 meat samples from outlets owned by Carrefour, GPA and Walmart , WAP said.
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Last month Carrefour agreed to sell 80% of its Chinese operations to electronics retailer Suning.
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Carrefour achieved savings of 1.05 billion euros in 2018, the first year of the plan.
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Walmart is ten times bigger than Tesco or Carrefour, two of Europe's largest supermarket chains.
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The family of Brazilian retail tycoon Abilio Diniz, has an 8.05 percent stake in Carrefour.
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However, in July Tesco did agree to form a global purchasing alliance with France's Carrefour.
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Other retailers too were trading higher, including Carrefour and Metro, both hovering around 6 percent.
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Carrefour said on Monday that its special offer on petrol prices would run until Nov.
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On Monday Carrefour agreed to sell 80% of its Chinese operations to electronics retailer Suning.
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He said a Walmart and a Carrefour were open, as well as some corner stores.
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Carrefour sales were still down 6.6 percent year-on-year in the first quarter 2018.
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He has $34.8 billion held among Christian Dior, LVMH and Carrefour, a French retail chain.
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Since 2009, Carrefour Brasil has also converted 15 of its hypermarkets to the Atacadão format.
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Carrefour shares are down nearly 30 percent so far in 2017 - underperforming European rivals .SXRP.
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French multinational Carrefour and its Middle Eastern retail partner Majid Al Futtaim have acquired Wadi.
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It examined 100 meat samples from outlets owned by Carrefour, GPA and Walmart, WAP said.
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Yonghui said on Monday it was scrapping talks with Carrefour on its related investment plan.
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There will be big companies like AccorHotels, Air France KLM, Carrefour, LVMH, TF1 Group and more.
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Tencent's portfolio includes Carrefour, Yonghui Superstores, Heilan Home and Wanda Commercial, while Alibaba has backed Suning.
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Until then, chief financial officer Sébastien Durchon will be Carrefour Brasil's acting CEO, the statement said.
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On the other hand, Carrefour rose almost 3 percent after Bank of America upgraded the stock.
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In the filing, Carrefour Brasil said it complies with the "Brazilian legislation on anticorruption and antibribery".
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The plan is aimed at helping Carrefour boost profits and revenues, and tackle competition from Amazon.
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Loop's Paris retail partner Carrefour will test and tweak the program ahead of the official launch.
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By 0811 GMT, Carrefour shares were up 1.5% at 17.25 euros, after opening up 13 percent.
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Nakumatt's main rivals are local unlisted firms and French retailer Carrefour, which entered Kenya last year.
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Trading in Carrefour Brasil's shares is slated to start on July 20 under the symbol CRFB3.
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"We also note that Carrefour CEO has publicly called for consolidation in the sector", Barclays added.
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O). Tencent and JD.com have a growing range of allies, including French grocer Carrefour SA (CARR.
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Market leader Casino formed an alliance with Intermarche while Carrefour agreed a tie-up with Cora.
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Three died and many were injured in a 2007 crush during a Carrefour sale in Chongqing.
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The Carrefour Brazil deal was sealed late in December 2014, and marked Diniz's return to retailing.
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According to Le Figaro, Cheval could be joining French retailer Carrefour to head its digital operations.
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Carrefour shares were up 4.7 percent in early trading, at their highest level since late November.
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France's Carrefour gained 33 percent and Casino rose 1 percent while Ahold Delhaize declined 0.4 percent.
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Other global retail giants have also exited Japan, including Tesco in 2011 and Carrefour in 2005.
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SHARES IN CASINO RISE 3.0% , AFTER BFM TV REPORTS CARREFOUR WEIGHING AN OFFER FOR THE COMPANY
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I still believe they're going to buy a Macy's, or a Carrefour or something like that.
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Carrefour has been examining a potential offer for several weeks, BFM said, citing several unidentified sources.
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In June Carrefour, a French supermarket chain, said it would sell 80% of its Chinese business.
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Carrefour has a smooth debt repayment schedule with an average bond maturity profile of 4.1 years.
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Fitch excludes from group FFO their estimated FFO contribution but includes estimated dividends received by Carrefour.
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Carrefour Brasil, he said, expects its own brands to represent 20% of total sales by 2022.
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The Carrefour brand will be kept for at least 4.5 years after completion of the deal.
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By 43 GMT, Carrefour shares were up 1.1% at 17.19 euros, after opening up 2.5 percent.
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Carrefour recently sealed a purchasing alliance with Britain's Tesco which is expected to start bearing fruit this year.. Carrefour kept its annual dividend unchanged at 0.46 euros and said it now eyed cost savings of 2.8 billion euros by 2020 instead of the 1.93 billion previously targeted.
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"We are valuing Carrefour Brazil at 9 billion euros or 8 times EV/EBITDA (enterprise value to earnings before interest, tax, depreciation and amortisation), so do not see the valuation range as surprising," said Deutsche Bank analysts in a note, keeping a "hold" rating on Carrefour shares.
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Carrefour recently sealed a purchasing alliance with Britain's Tesco which is expected to start bearing fruit this year.. Carrefour kept its annual dividend unchanged at 0.46 euros and said it now eyed cost savings of 2.8 billion euros by 2020 instead of the 2 billion previously targeted.
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The store, spread over two floors totaling 4,335 square meters — only half the size of a regular Carrefour hypermarket — is the fruit of a partnership sealed in January 2018 when Carrefour unveiled global plans to invest 2.8 billion euros ($3.3 billion) in digital commerce by 2022.
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In 2014 Carrefour, the world's second-biggest retailer, closed down its operations in India after four years.
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In China, Carrefour remains loss-making amid fierce competition from local players and a buoyant online market.
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Last month, French retailer Carrefour agreed to sell 80% of its Chinese operations to electronics retailer Suning.
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French supermarket Carrefour has announced it's removed dog meat products from two of its outlets in China.
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Carrefour achieved savings of 1.05 billion euros ($1.18 billion) in 2018, the first year of the plan.
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It is also looking to take a stake in the China business of French supermarket retailer Carrefour.
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In a nearby Carrefour supermarket, fridges that are usually crammed with packets of butter are mostly empty.
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Carrefour said on Monday that its special offer on petrol prices would run between now and Nov.
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Amazon will be third with China's JD.com in fourth place and Carrefour in fifth, Planet Retail predicts.
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So far this year, GPA shares climbed less than 10%, while rival Carrefour Brasil surged over 30%.
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It is typically only available in larger chain brands like Starbucks, Costa Coffee, Carrefour, and 7-Eleven.
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Italy has no global food chains to speak of (or even big retailers, such as France's Carrefour).
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Last month Carrefour, France's largest private sector employer, announced a 34 percent cut to its annual dividend.
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Carrefour, Europe's largest retailer, in January announced cost savings of 2 billion euros ($2.34 billion)by 2020.
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Carrefour will reportedly use the acquisition to accelerate digital transformation and improve online payment mechanisms throughout Brazil.
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S&P revised Carrefour to rating 'BBB' from 'BBB+' and also revised outlook to 'stable' from 'negative'.
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Carrefour said its 2015 recurring operating income would be in line with expectations of 2.45 billion euros.
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The tie-up between Carrefour and Fnac Darty follows a similar, recent partnership between Casino and Ocado .
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Carrefour shares were up 2.1 percent, among the top-performing stocks on France's benchmark CAC-40 index .
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Uchumi faces growing competition from privately held Nakumatt and new entrants including a franchisee of France's Carrefour.
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Bompard has picked Pascal Clouzard, 54, CEO of Carrefour Spain since 08123, as executive director for France.
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BERLIN (Reuters) - France's Carrefour announced a deal this week with Google to boost its online shopping business.
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"So, in the old days, the relationship with consumers was controlled by Walmart, Tesco, Carrefour," he said.
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Carrefour exited hard discounting last year in France when it closed or sold 000 underperforming Dia stores.
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As recently as the first quarter, same-store sales growth at Carrefour Varejo had been near zero.
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The French government had said in November it was suing retail group Carrefour in a separate case.
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Currently, google shopping has more than 50 retailers and channel providers, including Walmart, Target and Carrefour etc.
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Carrefour exited hard discounting last year in France when it closed or sold 000 underperforming Dia stores.
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They include Aéroports de Paris, an airport owner; LVMH, a luxury conglomerate; and Carrefour, a chain of hypermarkets.
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Carrefour is the largest private sector employer in France, which accounts for 44 percent of its operating profits.
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"If we had not done these negotiations, Carrefour would have left Argentina," Martinez said in a telephone interview.
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Animals Asia later told Mashable that it had independently verified that Carrefour had removed its dog meat products.
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"In October Georges Plassat asked the board to start the process," a source close to Carrefour told Reuters.
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French retailer Carrefour said first-half underlying operating profit rose 5.3 percent but saw sales fall in China.
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Carrefour announced a partnership last year with Tencent , which led to the opening of a store in Shanghai.
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Terracycle's partners involved with the initiative include logistics company UPS, European retailer Carrefour and resource management company Suez.
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The Carrefour-Tesco alliance is just the latest purchasing agreement struck by major European retailers in recent years.
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"If we had not done these negotiations, Carrefour would have left Argentina," Martinez said in a phone interview.
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As with Carrefour, the move appears to be paying off, and revenue has outpaced inflation in recent quarters.
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Carrefour, Europe's largest retailer, is in the midst of a five-year plan to boost sales and profits.
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Les Echos said investment banks Morgan Stanley and Societe Generale were handling the possible Carmila IPO for Carrefour.
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City Centre Abu Dhabi will have 153 retail outlets including a Carrefour hypermarket and Vox cinemas, he said.
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Late on Tuesday, Carrefour published fourth-quarter sales of 22.6 billion euros ($25.7 billion), in line with forecasts.
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Carrefour - which issued a profit warning in August - is due to unveil a strategy plan on Jan. 23.
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Three days earlier, the IPO of Brazil's biggest diversified retailer Grupo Carrefour Brasil SA fetched 5.12 billion reais.
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They contented themselves with going to a Carrefour on the outskirts of town to drink a hot chocolate.
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Analysts said the deal with Systeme-U would therefore give Carrefour an advantage in purchasing power over Leclerc.
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Carrefour will open three new So.Bio stores by early 2019, including one in Paris and one in Toulouse.
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CARREFOUR SHARES FALL 1.7%, COMPANY DENIES BFM TV REPORT THAT IT IS WEIGHING AN OFFER FOR RIVAL CASINO
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It is weighing an investment in the China operations of Carrefour, the grocer and retailer headquartered in France.
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Carrefour shares have lost 13 percent of their value so far this year, underperforming their European sector .SXRP.
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Analysts said Carrefour Brasil lacks a substantial competitive advantage to its rival that would justify higher share prices.
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Carrefour announced on Monday it acquired start-up Potager City, distributor of online boxes of seasonal fruit & vegetables.
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Carrefour shares fell by 7 percent last week and are down 24 percent over the past three months.
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According to Reuters, analysts said Friday that they wanted Carrefour to do more digital deals in the future.
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The other two warrants pertain to the individual Facebook accounts of two others, Lacy MacAuley and Legba Carrefour.
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CORRECTED-MAJID AL FUTTAIM (NOT AL-FUTTAIM GROUP) TO OPEN SEVEN CARREFOUR HYPERMARKETS IN UZBEKISTAN IN 2020 - CEO
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Carrefour announced a partnership last year with Tencent, which led to the opening of a store in Shanghai.
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Roche Brune Asset Management fund manager Meriem Mokdad said the war of words would benefit Casino rather than Carrefour.
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Carrefour has suffered from its reliance on hypermarkets, which it pioneered, as customers shift to local and online shopping.
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Thousands of users later signed a petition by Animals Asia asking for Carrefour to remove its dog meat products.
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In a statement on Thursday, Carrefour said it had sold 434 products at risk of contamination since the Dec.
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Other known customers that we have are Coca-Cola, Amazon, Bosch, Bayer, KPMG, Honda, DuPont, Ely Lilly and Carrefour.
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Carrefour, the world's second-largest retailer, has said it is targeting an initial public offering for Carmila this year.
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Most analysts including us value Carmila book value of 952 million in a Carrefour Sum Of The Part (SOTP).
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Carrefour shares were up 21.9 percent at 22017 GMT, however, as analysts welcomed its general plans to cut costs.
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The report added that Bernard Arnault and Philippe Houze had differences of opinion over the future governance of Carrefour.
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Carrefour shares were up 20173 percent at 22017 GMT, however, as analysts welcomed its general plans to cut costs.
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Carrefour said Sivignon, who had been group finance chief since 2011, would stay on as an adviser to Bompard.
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Carrefour said yesterday it was seeking a partnership in China with Tencent in the face of competition from Amazon.
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Carrefour Brasil also emphasized its growing electronics and e-commerce business, an increasing point of emphasis for the company.
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In July, Carrefour bought So.Bio, specialized in the distribution of organic products, with revenue of nearly 40 million euros.
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Carrefour shares are down 25 percent so far in 2017, underpeforming the Stoxx Europe 600 retail sector index <0#.
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Currently in a pilot program with Carrefour, which they expect to account for over $2130K per year in sales.
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This has also seen the startup partner with "hundreds" of online retailers including dominant players Carrefour and Ahold Delhaize.
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"We are working with our staff and providers to guarantee the availability of products for our clients," Carrefour said.
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"Carrefour overestimated the market's appetite for its shares," said Marcelo Garbes, head of equity trading at brokerage Tullet Prebon.
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France's Carrefour and Casino have already retreated; $30 billion Tesco left Japan in 2012 and South Korea in 2015.
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Alexandre Bompard took the helm at Carrefour, the world's second-largest retailer behind Wal-Mart, in July and on Jan.
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It also holds the exclusive rights to the Carrefour supermarket franchise in 38 markets across Middle East, Africa and Asia.
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Casino's Big C unit in late 2010 bought Carrefour SA's Thai assets in a deal then valued at $1.2 billion.
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Carrefour, Lidl and Sonae are studying a possible offer for Spanish discount supermarket Dia, Expansion reported citing unnamed market sources.
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Shares of French retail giant Carrefour jumped 2.7 percent after Bernstein raised its price target and outlook on the stock.
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DIGITAL DRIVE Carrefour, Europe's largest retailer, is in the midst of a five-year plan to boost sales and profits.
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Thousands of jobs are at stake, and France's Carrefour and South Africa's Shoprite are already moving to fill the gap.
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Reuters reported in January that Carrefour aimed to price the unit's IPO at a minimum 25 percent premium to GPA.
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Unlike rivals DIA or Carrefour, the chain has shunned acquisitions, preferring to grow by building around 60 stores per year.
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He reiterated that there were no plans for any partial sale to Amazon and no plans to merge with Carrefour .
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Carrefour shares have fallen around 24 percent this year, underperforming the STOXX Europe 600 index and France's benchmark CAC-40 .
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Grocery chain Carrefour acquired a large stake in Brazil-based Ewally after it completed Village Capital's first regional acceleration program.
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Carrefour did not disclose the amount invested and the deal is still subject to approval by Brazilian financial regulation authorities.
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At 0932 GMT, Carrefour shares were up 3.68 percent at 24.39 euros, outperforming their European sector, which gained 1.55 percent.
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Diniz owns, together with his family, 7.86 percent of the capital of Carrefour and 10.15 percent of its voting rights.
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Shares in supermarket Carrefour, highway operator Vinci, hotel chain Accor, and airline Air France fell by 0.9 to 2 percent.
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The local subsidiary of France's Carrefour SA is likely to maintain this level of capital expenditure until 2024, they said.
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Only two banks currently support Apple Pay in France, Caisse d'Épargne/Banque Populaire (it's the same company) and Carrefour Banque.
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He said that Carrefour Brasil is already reaping the benefits of this strategy, with market share gains in all formats.
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Carrefour and Systeme-U said they would aim to offer "fair compensation" to French farmers, as part of their partnership.
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Carrefour said it would invest between 2.5 billion euros and 2.6 billion euros in 2016 on renovating and expanding stores.
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Carrefour has been official sponsor of the French Football Federation since 1998 and of the Tour de France since 1993.
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Carrefour was a top performer after the French firm agreed to partner with Google, in an online shopping tie-up.
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"At Carrefour with the job cuts, you create an explosive situation and it quickly becomes a political problem," added Dessaint.
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All-purpose big-box stores, of which Carrefour is the best known, are a thriving sector of the French economy.
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The federation, which regroups large supermarket groups like Carrefour or Casino, has warned that the protests that started on Nov.
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The two groups were already locked in a dispute last year amid talk of a Carrefour takeover bid for Casino.
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|
By 0915 GMT, Carrefour shares gained 0.81%, outperforming a 1.85% decline in the CAC-40 index of French blue chips.
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|
"Amazon forces us to react and if Leclerc, Carrefour or Auchan react, they have an edge over Amazon," he said.
|
|
By 1303 GMT, Carrefour shares gained 2.41%, outperforming a 2.8% decline in the CAC-40 index of French blue chips.
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The list will be updated again before January, meaning Carrefour Brasil, Hapvida and Sul America are not yet guaranteed entry.
|
|
Sticking with the sector, Carrefour closed up 1.74 percent after investors welcomed the retailer's acquisition of a stake in Showroomprive.
|
|
It also partners with supermarket giant Carrefour to offer full supermarket shopping on-demand via the app in select markets.
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The firm signed a deal with French retailer Carrefour earlier this year to provide the latter with fast home delivery.
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The move follows the merger earlier this month of Carmila with Cardety, a listed property unit also owned by Carrefour.
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|
Shares of France's Carrefour retreated a day after it became the latest Western retailer to retreat from the Chinese market.
|
|
Carrefour, which has been in China since 224, agreed to sell 23.6% of its Chinese operations to electronics retailer Suning.
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The EBRD loan will be invested to open and operate new Carrefour retail stores across ex-Soviet country of 3.7 million.
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Shares of São Paulo-based Carrefour Brasil dropped as much as 4.5 percent to 16.21 reais, the lowest since Aug. 9.
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BERLIN (Reuters) - Alain Caparros, the French chief executive of German retailer REWE, has ruled out a move to France's Carrefour (CARR.
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French retailer Carrefour has teamed up with Bookeen, an e-reader company, to release and develop a new e-reader. Surprise.
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In the Facebook case, two of the accounts belong to individuals involved in planning Inauguration Day protests, MacAuley and Legba Carrefour.
|
|
A second source said that a final meeting of the Carrefour nomination committee is planned for the end of next week.
|
|
Talk of a merger with Carrefour, the world's biggest bricks-and-mortar retailer after Walmart, may therefore be a welcome distraction.
|
|
This led Carrefour to engage in a more aggressive commercial strategy in the first half, which weighed on its French margins.
|
|
Businesses ranging from European supermarkets (France's Carrefour and Britain's Sainsbury's) to Indian cement-makers (ACC, Ambuja and Dalmia) espouse shadow pricing.
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This will allow Carrefour to expand its one-hour Livraison Express service, created in Paris, to 10 new cities in 2018.
|
|
Both Carrefour and Becker roundly rejected this accusation, which was made throughout the campaign by Trump and others with no evidence.
|
|
Gilbert brutally accelerated again on the Carrefour de l'Arbre, one of the most feared cobbled sectors, and Lampaert was immediately dropped.
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Carrefour Brasil plans to sell 205.882 million new shares in a primary offering whose proceeds will go to the company's coffers.
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PA) rose around 2% on Tuesday after Barclays said in a note that a tie-up with larger rival Carrefour (CARR.
|
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But Auchan will also follow Carrefour in having sections in its hypermarkets for non-food items sold by a partner company.
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|
French supermarket chain Carrefour reported full-year 2015 sales were up 3 percent on an organic basis from the year before.
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In France, Carrefour faces competition from the likes of Amazon and pressure from cheaper prices offered at rivals such as Leclerc.
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|
"We believe, just as at Fnac back in 2011, Carrefour needs to make some progress on these three metrics," they added.
|
|
This followed a 14.7 percent fall in 2017 operating profit, which Carrefour blamed on the poor performance of its French operations.
|
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Supermarket retailers Carrefour and Tesco said on Monday that they expected their previously-announced purchasing alliance to become operational in October.
|
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Carrefour, which is Europe's largest retailer, is in the midst of a five-year plan it launched exactly one year ago.
|
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Carrefour is pursuing a plan there to expand in e-commerce and convenience stores and open logistics centres to cut costs.
|
|
Carmila, created in April 2014, is 42.3 percent controlled by Carrefour, with the balance held by a group of institutional investors.
|
|
Switching focus to stocks, retailers led the gains with H&M jumping some 5 percent and Carrefour popping over 3 percent.
|
|
Carrefour, Leclerc, Auchan and Systeme U had said some baby milk recalled by Lactalis had still made it onto shop shelves.
|
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Leclerc, Auchan, Carrefour and Systeme U have all acknowledged that some baby milk recalled by Lactalis made it onto their shelves.
|
|
At 0856 GMT, Carrefour shares were up 1.66 percent at 23.86 euros, outperforming the European retail sector, which gained 0.11 percent.
|
|
It says it has 120 customers worldwide, including Orange, Rakuten, Carrefour, Walmart, Tiffany's, Clarks, Goldman Sachs, Abbott, SNCF, AccorHotels, and L'Occitane.
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GPA shares have risen almost 8% so far in 2019, well behind rival Carrefour SA, which has gained more than 24%.
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For instance, it has signed a deal with supermarket chain Carrefour to deliver thousands of products in less than 30 minutes.
|
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Adding to the pressure is the rise of late-night convenience stores backed by the supermarket giants Casino Groupe and Carrefour.
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The French retailer Carrefour dropped 13 percent after warning that its profits could fall in 2017 due to lower sales growth.
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Carrefour Brasil said in a filing on Monday it is in talks to acquire stores operated by rival retail chain Makro.
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Other world-class European chains, such as Carrefour from France and Tesco from Britain, have tried and failed to get a foothold.
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Carrefour has struggled for years to reduce its reliance on hypermarkets, particularly in France, where it makes 47 percent of its sales.
|
|
France's Carrefour topped Europe's benchmarks after an upbeat earnings report, which saw the retailer express optimism for its strategy plan going forward.
|
|
Carrefour numbers 210 hypermarkets and 24 convenience stores and generated €3.6 billion — RMB 28.5 billion or $4.09 billion — in sales last year.
|
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Carrefour, which has previously denied plans to exit Argentina, said last week it had filed a "crisis prevention" application with the government.
|
|
Both sides do agree that their bosses met and even discussed what a tie-up between Casino and Carrefour might look like.
|
|
Some of the limited partners behind this growth fund are Bpifrance, CNP Assurances, AG2R La Mondiale, Carrefour, Ingenico Group, Renault and more.
|
|
Media Markt, Phone House, and Carrefour will also be featuring Mi devices on their online outlets and through their physical retail channels.
|
|
Bompard unveiled the plan after Carrefour said last week that its 2017 operating profit could fall by 15 percent amid weak sales.
|
|
Chief Executive Alexandre Bompard took the helm at Carrefour, the world's second-largest retailer behind Wal-Mart , in July and on Jan.
|
|
Bernstein analysts said industry data showed Carrefour lost market share in the French food retail market in the four weeks to Oct.
|
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The new Carrefour team faces a challenge to improve the performance of its French hypermarkets, a goal that has eluded several predecessors.
|
|
Under pressure to increase profits, Carrefour boss Alexandre Bompard announced in January cost savings of 2 billion euros ($2.47 billion) by 2020.
|
|
Carrefour and Pernod Ricard both ended near the top of the STOXX 600, after both French-listed firms recently published earnings reports.
|
|
Noël Prioux told reporters that Carrefour plans to invest 1.9 billion reais ($496 million) in 2019, the same amount as this year.
|
|
Ahold-Delhaize in the Netherlands and Carrefour in Brazil and Western Europe could make good targets for Amazon's next expansion, Monteyne wrote.
|
|
Carrefour, the world's largest retailer after Wal-Mart , hired Alexandre Bompard from Fnac Darty - which is France's largest electronics retailer - in July.
|
|
Carrefour has weathered a recession in Brazil because it sells mostly food there and is thus less vulnerable to falling consumer spending.
|
|
In the retail unit, which uses the brand name Carrefour Varejo, gross sales grew by only 0.2 percent to 4.65 billion reais.
|
|
Carrefour, which boasts more than 200 hypermarkets in China, has been in the People's Republic for nearly a quarter of a century.
|
|
Auchan Retail notably faces fierce price pressure in its home market from the likes of Carrefour and Leclerc and competition from Amazon.
|
|
Carrefour and other big retailers have also agreed to buy more Languedoc wine, give them prominent display and clearly mark foreign ones.
|
|
Market share at GPA's food and staples division increased in the second quarter, though Carrefour Brasil has shown consistently higher profit margins.
|
|
Carrefour denied reports by Brazilian media last week saying that it was acquiring Makro's Brazilian subsidiary for 5 billion real ($1.16 billion).
|
|
Shares in Carrefour Brasil were down 0.3% in early afternoon trading at 21.40 reais, despite solid quarterly results released late on Thursday.
|
|
Alexandre Bompard, the former boss of Fnac Darty, took over as CEO at Carrefour, the world's largest retailer after Walmart, in July.
|
|
The listed unit of France's Carrefour SA recorded major gains in sales at Atacadão despite the Brazilian economy's slow recovery from recession.
|
|
Latin America is an important market for Carrefour, accounting for about 8 percent of its 11,935 stores in more than 30 countries.
|
|
Carrefour, Europe's largest food retailer, has increased its focus on organic food, under a global five-year plan to boost sales and profits.
|
|
Last month, Carrefour and waste recycling company TerraCycle launched an initiative to tackle the problems of plastic waste threatening to destroy the environment.
|
|
PA) and Systeme U. The probe on that last alliance was also widened to include the tie-up between Carrefour and Tesco (TSCO.
|
|
In retailing, too, a pair of French supermarket chains, Auchan and Carrefour, together operate more than 2,000 supermarkets in Italy's unusually fragmented industry.
|
|
According to the first person, Carrefour expects the IPO to take place in a fresh round of stock offerings slated for late April.
|
|
Carrefour follows other big-name Western retailers such as Tesco Plc and Walmart Inc, which have sold stakes to domestic partners, and Amazon.
|
|
The latest cull follows other high profile job cuts revealed by Carrefour and Peugeot owner PSA since President Emmanuel Macron loosened labour laws.
|
|
Two sources with knowledge of the Walmart deal said Carrefour had been consulted by Goldman Sachs on the deal, and was not interested.
|
|
Carrefour, which has previously denied plans to exit Argentina, said last week it had filed a "crisis prevention" application with Argentina's labor ministry.
|
|
The IPO should help Carrefour Brasil add financial muscle to take on GPA, whose food division has recovered amid sliding sales of appliances.
|
|
Cheval, currently the Executive Director for the company's 'E-Commerce, Services and Digital Transformation' units, retains the supervision of financial services, added Carrefour.
|
|
Auchan also faces fierce price pressure in its home market from the likes of Carrefour and Leclerc as well as competition from Amazon.
|
|
French supermarket chain Carrefour rose 3.8 percent after Península Participações Ltda upped its stake in the company, having bought an additional 2.98 percent.
|
|
Carrefour added that because of the Brazilian IPO, it was bringing forward its second-quarter sales figures to July 6 from July 12.
|
|
The supermarket stores acquired from Retail Arabia will all be rebranded under Carrefour and existing employees will be retained, Majid Al Futtaim said.
|
|
French supermarkets like Carrefour and Auchan also distribute plastic bags in Senegal, but as they are thicker the law doesn't yet affect them.
|
|
Clients include distribution groups like Auchan, Cora, Leclerc and Carrefour, clothing companies like Pimkie or Adidas, big companies like Samsung and many more.
|
|
Groupe Arnault and Colony first invested in Carrefour in 2007 through an alliance known as Blue Capital, for over 40 euros per share.
|
|
Carrefour said it would invest 2.4 billion euros in 2017 on renovating and expanding its stores, less than 2.5 billion euros last year.
|
|
By 0703 GMT, Carrefour shares were up 2.5 percent at 17.44 euros, among the top gainers on France's blue-chip CAC-40 index.
|
|
Carrefour announced plans in January to invest 2.8 billion euros in digital commerce over the next five years, six times its current investment.
|
|
It has a market share of nearly a quarter of Spain's food retail market, more than 15 percentage points above Grupo DIA and Carrefour.
|
|
Carrefour has been trying to reposition in China, where it makes 5 percent of group sales, having been too focused on large hypermarkets there.
|
|
Under the plan, Carrefour is targeting 5 billion euros ($5.7 billion) in organic food sales by 2022, compared to 1.2 billion generated in 2017.
|
|
This year a police investigation was triggered when a customer returned a worm-riddled ham to a branch of the French supermarket chain Carrefour.
|
|
The government was sharply criticized by privacy advocates after serving the dragnet warrants, two of which target political activists Lacy MacAuley and Legba Carrefour.
|
|
Prioux's confirmation as Carrefour Brasil CEO is conditioned on issuance of a work visa by Brazil's Labor Ministry, which is expected within 30 days.
|
|
Carrefour, which is Europe's largest retailer, aims to reach a 100% rate for recyclable, reusable or compostable packaging for its own brands by 2025.
|
|
Chief Financial Officer Pierre-Jean Sivignon told analysts Carrefour still eyed 220-3.13 percent sales growth at constant exchange rates for full-year 23.1.
|
|
Carrefour aims to sign an agreement with unions in mid-May and to carry out the plan in the second half of the year.
|
|
Privately owned Leclerc is now France's largest food retailer by market share, having overtaken larger rival Carrefour, thanks to its focus on low prices.
|
|
But the French supermarket sector has powerful incumbents such as Carrefour and Leclerc, operating at low margins and with a dense network of stores.
|
|
Management at Boulogne Billancourt, France-based Carrefour has repeatedly said listing the unit in the São Paulo Stock Exchange is needed to finance expansion.
|
|
Diniz and his family, who own 5.07 percent of Carrefour through Península, will review their earlier decision to maintan their stake at that level.
|
|
In January, Casino's French rival Carrefour also said it would seek a partnership in China with Tencent in the face of competition from Amazon.
|
|
The deal with Carrefour will make groceries available for shopping on connected speakers like Google Home or the Google Assistant device on mobile phones.
|
|
Along with domestic peers such as Carrefour and Auchan, Casino faces intense price competition in its home market as well as challenges from online.
|
|
Carrefour, which is Europe's largest retailer, said group operating profits rose 2.6% from the same period last year to 618 million euros ($13 million).
|
|
Carrefour, which is Europe's largest retailer, said group operating profits rose 2.6% from the same period last year to 00205 million euros ($690 million).
|
|
French Economy Minister Bruno Le Maire reiterated on Wednesday that the government would keep a close eye on the staff cut plans at Carrefour.
|
|
Carrefour shares edged up 0.2 percent to 22.86 euros in early session trading, outperforming a 0.3 percent decline in the broader, European retail index.
|
|
In June, Carrefour CEO Alexandre Bompard said the retail sector was bound to consolidate in the coming years, notably in France as competition intensifies.
|
|
It has a market share of nearly a quarter of Spain's food retail market, more than 10 percentage points above Grupo DIA and Carrefour.
|
|
Carrefour, which is Europe's largest retailer, said group operating profits rose 2.6% from the same period last year to 618 million euros ($689.6 million).
|
|
Carrefour was looking at a Carmila initial public offering (IPO) between April and June next year, the French business newspaper added, citing several sources.
|
|
Carrefour Chief Executive Georges Plassat had already said in July that it was "legitimate to think about an IPO for next year" for Carmila.
|
|
As well as the Burger King, Abidjan now has a Carrefour supermarket, a new Heineken brewery, a Paul bakery and plenty of new infrastructure.
|
|
Plassat said Carrefour was sticking to plans for a possible flotation of its Brazil unit, which includes Brazil's largest cash-and-carry store operator.
|
|
But Carrefour Kenya cannot fill Nakumatt's big shoes just yet, said Boris Planer, the global chief economist at Planet Retail, a global retail consultancy.
|
|
In 2011, Diniz fell out with French retailer Casino , his then-partner at GPA, after he secretly sought to broker a merger with Carrefour.
|
|
On Wednesday night, Carrefour Brasil posted a 21% rise in third-quarter net income from a year ago to 430 million reais ($105.3 million).
|
|
Casino shares were down 5.9 percent at 13 GMT, sharply underperforming the European retail sector and dragging down shares in its domestic rival Carrefour.
|
|
The companies said the agreement would become effective for the 2018 supplier negotiations, and that Carrefour and Fnac Darty would maintain independent commercial policies.
|
|
In other news, Tesco and Carrefour are set to use their market strength to ensure better deals from suppliers and thus fight domestic competition.
|
|
Mercadona relies heavily on its own brand of products and unlike rivals like DIA or Carrefour it has shunned acquisitions, preferring to grow organically.
|
|
Privately owned Leclerc is now France's largest food retailer by market share, having overtaken larger rival Carrefour, thanks to its focus on low prices.
|
|
Carrefour plans to start by putting two Pepper robots into its shops in Taiwan, said Marilyn Su, national marketing director for the French retailer.
|
|
Carrefour said third-quarter sales were 21.78 billion euros ($23.91 billion), above the median analyst estimate of 21.71 billion in a Thomson Reuters poll.
|
|
In China, which represents about 5 percent of group sales, Carrefour has already set out plans to expand in e-commerce and convenience stores.
|
|
However, Carrefour has a weaker financial profile than peers rated in the 'BBB' category, such as Ahold Delhaize and the Kroger Co. (BBB/Negative).
|
|
Ahold's shares have already lost more than 22 percent so far this year, the worst in European retail followed by Carrefour, Tesco and Morrisons.
|
|
In 2008, hundreds of protesters called for a boycott of the French retailer Carrefour after Tibetan activists disrupted the Olympic torch's journey through Paris.
|
|
Former CEO Georges Plassat repeatedly said Carrefour would stay in China and did not rule out a deal with a local partner, although nothing materialized.
|
|
By 1312 GMT Carrefour shares were off 3.10 percent at 24.55 euros, the sole decliner on the CAC-20163 index of French blue chips .FCHI.
|
|
"This partnership is a new step in the acceleration of our digital strategy, in an omni-channel approach," chief executive of Carrefour Alexandre Bompard said.
|
|
Indeed, the FT reported that Carrefour had tried to sell a minority stake in its China business to Tencent but those talks are now over.
|
|
Given that Amazon put out its square-shaped Paperwhite last year, Carrefour and Bookeen had to find a way to make theirs sound more interesting.
|
|
The troubles at Uchumi, and the implosion of privately held Nakumatt, have opened the door to foreign chains such as France's Carrefour to operate franchises.
|
|
France's traditional supermarket operators such as Casino, sector leader Carrefour and privately-held firm Leclerc have all taken steps to respond to the Amazon threat.
|
|
Carrefour shares have risen around 12 percent so far this year, underperforming a rise of around 20 percent rise in the broader European retail sector.
|
|
In 2011, Diniz fell out with Casino Guichard Perrachon & Cie, his then-partner at GPA, after he secretly sought to broker a merger with Carrefour.
|
|
The morning meeting between Carrefour head Alexandre Bompard and Casino's boss Jean-Charles Naouri took place at an unidentified third party location, the sources added.
|
|
Carrefour, the largest private sector employer in France, said a voluntary redundancy plan would be offered to 2,400 employees at its head office in France.
|
|
Before the dilution occurred, however, he started negotiating the acquisition of the local unit of competing retailer Carrefour and turned to BNDES to finance it.
|
|
In a securities filing, the local subsidiary of France's Carrefour SA said Atacadão's quarterly gross sales grew 8.9% year-on-year to 10.3 billion reais.
|
|
Analysts say floating Carmila would allow Carrefour to get extra cash to fund its expansion and also unlock some hidden value within Carrefour's asset portfolio.
|
|
France's Carrefour is also expanding in Spain, and the supermarket chain said earlier this week it was buying 36 hypermarkets from domestic player Eroski Group.
|
|
In 2008, for instance, Chinese consumers burned the French flag at protests outside Carrefour retail locations, saying the company was supporting pro-Tibetan independence groups.
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French retailers Carrefour and Fnac Darty are in talks about an alliance to combine their purchasing power for electronics products, BFM business said on Friday.
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Carrefour, the world's second-largest retailer, said on Thursday it would boost investments to renovate and open stores this year as it cements its turnaround.
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Lobbying group EuroCommerce, whose members include Tesco, Lidl, Carrefour, and Metro, said governments also need to do their part to help make recycling a success.
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The "Carrefour 2022" plan has been relatively well received by investors as being the right sort of strategy to prepare the ground for a recovery.
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MILAN/LONDON (Reuters) - European stocks fell on Tuesday, pulled down by commodities stocks, but retailers gained after Carrefour signed an online shopping partnership with Google.
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"According to BFM Business' information, Carrefour and Fnac Darty have been discussing for several months a major alliance to pool together purchases," the website reported.
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Carrefour holds its annual shareholder meeting on Friday, when it will seek approval for a new mission statement to include its commitment to food transition.
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French hypermarket chain Carrefour sold its China business in June after a weak response, and Amazon shut down its China e-commerce marketplace in April.
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French retailer Carrefour is weighing a possible bid for its debt-laden rival Casino, potentially through an all-share deal, BFM TV reported on Wednesday.
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In France, where sales fell 2% last year, Auchan Retail faces fierce price pressure from the likes of Carrefour and Leclerc and competition from Amazon.
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French supermarket chains Leclerc, Auchan, Carrefour and Systeme U have all acknowledged that some of the baby milk remained on their shelves after the recall.
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As in previous quarters, growth was driven mainly by Carrefour Brasil's so-called cash-and-carry format, which offers consumers a no-frills, wholesale experience.
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Carrefour has been trying to reposition itself in China, where it makes 4.6193 percent of group sales, having previously been overly focused on large hypermarkets.
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This was instrumental in gaining new global clients in the first quarter such as Daimler's Mercedes-Benz brand, Carrefour and Marriott International, Publicis has said.
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Carrefour shares have risen around 12 percent so far this year, underperforming a rise of around 20 percent rise in the broader European retail sector .
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Carrefour announced in January it would invest 2.8 billion euros ($3.48 billion) in digital commerce over the next five years, six times its current investment.
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PARIS, Aug 6 (Reuters) - Supermarket retailers Carrefour and Tesco said on Monday that they expected their previously-announced purchasing alliance to become operational in October.
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PARIS, June 23 (Reuters) - Carrefour, Europe's largest retailer, said on Sunday it had agreed to sell 80% of its Chinese operations to Chinese group Suning.
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Carrefour Brasil did not break down how much of the 2 billion reais in investments planned for 2019 will be allocated to Act for Food.
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But it's a tough market as other retailers are also playing the delivery game, and some such as Carrefour have also partnered with Dada-JD Daojia.
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Caparros said in a statement he would not go to Carrefour after speculation in the French media that he might be a candidate for the job.
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Leclerc is now the leading retailer in France with a national market share of 21 percent against 20.5 percent for Carrefour, the latest Kantar data show.
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Because Carrefour plans to list its Brazil business on July 20, it is not allowed to disclose figures for Brazil, its second-largest market after France.
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Carrefour, which has been in China since 1995, said in a statement it had agreed to sell 266% of its Chinese operations to electronics retailer Suning.
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Financial names including Allianz, EY and Société Générale have bases in La Défense, as well as global consumer brands including Carrefour, Coca-Cola and Procter & Gamble.
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In December Tencent responded with a stake in Yonghui Superstores, China's second-largest, and is considering another in the Chinese operations of Carrefour, a French hypermarket.
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Last week, Carrefour unveiled plans to cut jobs, boost its E-commerce investment and seek a partnership in China with Tencent given the challenges from Amazon.
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Speaking to journalists, Carrefour executives said they were open to non-organic expansion options, such as entering into franchising agreements or acquiring high-quality regional players.
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Carrefour is in the middle of a plan by chief executive Alexandre Bompard to cut costs and boost e-commerce investment to increase profits and sales.
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"The idea is to shut down access to the parade as much as possible and slowing it down to a crawl," said DisruptJ20 organizer Legba Carrefour.
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Leclerc has overtaken Carrefour as the leading food retailer in France by market share, partly because its prices are typically lower than those at rival stores.
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He has bought wholesaler Booker for nearly 4 billion pounds, formed a global purchasing alliance with France's Carrefour and launched a new discount format called Jack's.
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Carrefour will have a 42 percent stake in the new group while other shareholders of Carmila and Cardety will own 55.3 percent and 2.3 percent respectively.
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CarrefourSA is a joint venture between Carrefour and Turkey's Sabanci Holding ($1 = 3.6227 liras) (Reporting by Ceyda Caglayan; Writing by David Dolan; Editing by Daren Butler)
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Carrefour shares have gained 18.4 so far this year, slightly outperforming their European sector, but are still down 18 percent since Bompard joined in July 2017.
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BFM Business reported that SocGen executive Bernardo Sanchez Incera was emerging as a possible name to replace Georges Plassat at the head of supermarket retailer Carrefour.
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The weaker numbers for Carrefour reflected a competitive climate in France as well as softer fruit and vegetable prices and adverse weather conditions, the company said.
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That would mark a year-on-year fall of 15 percent at current exchange rates, worse than the 12 percent drop Carrefour had forecast in August.
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Since taking the reins at Carrefour in June 2012, Plassat has led a recovery focused on price cuts, accelerating expansion into convenience shops and renovating stores.
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Two of Kenya's three top retailers - Uchumi Supermarkets and former regional No. 1, Nakumatt - are failing, opening the door to chains such as Shoprite and Carrefour .
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Carrefour launched a five-year plan a year ago to cut costs, boost E-commerce investment and seek a partnership in China with tech giant Tencent.
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French supermarket operator Carrefour was the top gainer in early trading, up 7.5 percent as sales acceleration in France and Brazil overshadowed weakness in Southern Europe.
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SAO PAULO, May 9 (Reuters) - Brazilian supermarket chain Carrefour Brasil on Thursday reported quarterly net income of 441 million reais ($111.75 million), slightly above market expectations.
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Carrefour finance head Pierre-Jean Sivignon said market estimates for full-year 2016 earnings before interest and tax (EBIT) of around 2.5 billion euros were "reasonable".
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French supermarket retailer Carrefour said on Monday that its Brazilian unit Atacadão would book a provision to cover for risks related to a Brazilian tax dispute.
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Carrefour announced it signed a 5-years partnership with Systeme U. The EU said it would rule on the Alstom-Siemens rail deal by July 13.
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In Brazil, an emerging market Carrefour has earmarked for expansion, same-store sales rose 8.5 percent in the quarter, against 7.4 percent in the third quarter.
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PARIS, July 28 (Reuters) - French retailer Carrefour could launch separate share flotations of its property and Brazilian units in 2017, its chief executive said on Thursday.
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Delhaize, which competes with Colruyt and Carrefour as well as hard discounters Aldi and Lidl, added that its market share in Belgium rose to 24 percent.
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French supermarket retailer Carrefour and British peer Tesco announced on Monday plans to form a global long-term purchasing alliance, as they seek to cut costs.
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"At Carrefour, the fault comes from poor management of the products returned to the stores by clients," Carrefour's head of quality Stephane Dufort told the committee.
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Casino shares were up 3.9 percent in early session trading, helping to lift the shares of its domestic rival Carrefour which also rose around 2 percent.
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It would mainly benefit Carrefour while limiting the competitive advantage of the market's dominant player Leclerc, which is famous for its aggressive discounting, the bank said.
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Carrefour is also benefitting from the renovation of some of its hypermarkets in Brazil and from the robust performance of its Atacadao cash and carry stores.
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Alexandre Bompard, the former boss of Fnac Darty, France's largest electronics retailer, took over as CEO at Carrefour, the world's largest retailer after Walmart, in July.
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Carrefour and Uber, among other American companies, have decided not to enter the Chinese market because it'd be too complex or costly for them to navigate.
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More such stores were on the cards in China, including two in Shenzhen in the coming months, Thierry Garnier, Carrefour Executive Director for Asia, told Reuters.
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Excluding gasoline, total gross sales hit 21 billion reais ($24.1291 billion) in the quarter, the local subsidiary of France's Carrefour SA said in a securities filing.
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PARIS (Reuters) - The French government said on Wednesday it was taking retail giant Carrefour to court for illegally seeking big discounts from suppliers, following an investigation.
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SAO PAULO, Aug 22 (Reuters) - The Brazilian unit of French retailer Carrefour SA disclosed earlier on Thursday in a securities filing a corruption investigation into its operations.
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Brazilian food retailer Carrefour Brasil beat profit estimates for the fourth quarter on Tuesday, as its Atacadão wholesale supermarkets lead growth with rising sales and widening margins.
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These efforts have also entailed cutting prices at the Geant hypermarkets and the Leader Price discount stores to compete with local rivals such as Carrefour and Leclerc.
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Carrefour, which is Europe's largest retailer, sold a majority 2880% stake in its China-based business to Chinese retailer Suning, according to an announcement made this weekend.
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Since taking over as CEO in June 2012, Plassat has led a recovery at Carrefour, focusing on price cuts, accelerating expansion into convenience stores and renovating stores.
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At around midnight on September 23rd Casino, a supermarket chain, said its board of directors had unanimously rejected a hostile takeover attempt by Carrefour, a bigger rival.
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Carrefour might have sniffed an opportunity in the travails of Casino, part of the empire of Jean-Charles Naouri, a well-connected former civil servant and mathematician.
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French sales benefited from price cuts on Carrefour branded products in all store formats, notably through loyalty programmes, as well as from strong demand for organic food,.
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Loop has also roped in a number of retail partners, including Kroger and Walgreens in the United States, Tesco in the United Kingdom, and Carrefour in France.
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And all the traditional supermarkets are launching or relaunching services to order and receive groceries within a couple of hours — Carrefour Livraison Express, Franprix's mobile app, etc.
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Instead, he asserted that Ocado "would prefer Amazon Fresh to be a better competitor globally," thereby diminishing the market share of Carrefour, Woolworths and other grocery outlets.
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Electronics retailer Magazine Luiza SA and supermarket chain Carrefour Brasil have unveiled expansion drives, adding to signs of economic recovery after Brazil's harshest recession in a century.
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Plassat, credited with saving Carrefour from a possible break-up, leaves a group which has progressed in most of Europe and in Brazil, its second-largest market.
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Tencent, which has invested 4.2 billion yuan in a 5 percent stake of Yonghui, is also forming a partnership in China with Europe' s largest retailer Carrefour.
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In Tunis on Tuesday police fired tear gas in two districts and also fired gas at a crowd storming a supermarket of France's Carrefour, a witness said.
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French supermarket chain Carrefour reported sales in line with expectations, but showed signs of slowing in its home market of France and pointed to weakness in China.
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The number of Majid Al Futtaim Carrefour-operated outlets will increase to 80 stores in the UAE, 11 in Bahrain and 8 in Kuwait following the acquisition.
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Monoprix competitors Systeme U, Leclerc and Intermarche were reportedly also considered potential candidates, while struggling big box store operator Carrefour was speculated to be an acquisition target.
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Carrefour is up against fierce competition in France, which accounts for nearly half of group sales and 44 percent of operating profit, from online and other rivals.
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Malige should know the challenges ahead of him, as he worked at Carrefour between 2003 and 2011, holding several positions including finance chief of Belgium and France.
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In a statement on Wednesday, Sao Paulo-based Peninsula said it had bought an additional 2.98 percent stake in Carrefour through a web of unidentified controlled entities.
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Carrefour Brasil will keep the expansion pace of its wholesale unit Atacadao at 20 new stores per year but aims to accelerate the openings of convenience stores.
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The company added that sales of non-food products at Carrefour Brasil's traditional hypermarket formats increased at a "double digit" rate, with consumer electronics selling particularly well.
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There has also been media speculation that he was on the list of potential candidates for the top job at Carrefour to take over from Georges Plassat.
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In sector news, retail rose almost 1 percent as a whole, with French and British retailers in particular posting strong gains, including Casino Guichard, Carrefour and Sainsbury's.
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Google will also roll out its G Suite productivity tools - where it rivals Microsoft Office - to the entire Carrefour group and its 160,000 employees, the companies said.
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GPA shares have gained more than 17% in the Sao Paulo stock exchange so far in 2019, just a tad below Carrefour Brasil's 20% rise this year.
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RUSSIA PAIN In France, where sales fell 2% last year, Auchan Retail faces fierce price pressure from the likes of Carrefour and Leclerc and competition from Amazon.
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The division known as Carrefour Varejo, which operates supermarkets, hypermarkets, convenience stores and e-commerce, gross sales excluding gasoline climbed 8.9% in the quarter ended on Sept.
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The 54-year-old has also pursued growth by buying wholesaler Booker, forming a global purchasing alliance with Carrefour and launching a new discount format called Jacks.
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The 54-year-old has also pursued growth by buying wholesaler Booker, forming a global purchasing alliance with Carrefour and launching a new discount format called Jack's.
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Müssnich and Chief Financial Officer Sébastien Durchon noted that Carrefour Brasil is open to considering an acquisition of GPA's hypermarkets, though they are not up for sale.
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"In general, Carrefour Brasil once again outperformed GPA," even with margin under pressure from higher investments, an analyst at BTG Pactual wrote in a note to clients.
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Auchan, like French rival Carrefour, has suffered because of its heavy reliance on large hypermarket formats when customers have been shifting to shopping more locally and online.
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Carrefour said in a statement that its offices in Massy, south of Paris, had been searched on Tuesday by authorities investigating some of its ongoing commercial negotiations.
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"It is of utmost importance for Carrefour to apply current regulations and if mistakes have been made the company will take the necessary measures," the company said.
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French sales benefited from price cuts on Carrefour branded products in all store formats, notably through loyalty programs, as well as from strong demand for organic food,.
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He is also aiming to boost profitability and cash flow, and speeding up the company's expansion into e-commerce, where Carrefour was late to invest.. Carrefour, Europe's largest retailer and the second-biggest in the world behind Wal-Mart, will invest 2.8 billion euros ($3.43 billion) by 2022 to accelerate its online offer, while also cutting costs by 2 billion euros on a full year basis by 2020.
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Carrefour wants to add non-food lines in future like clothing, as well as more information, such as how much the farmer gets out of the shelf price.
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Bompard plans to invest 2.8 billion euros ($3.4 billion) in digital commerce by 20173, six times its current investment, as Carrefour plays catch-up in online food retail.
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French supermarket chain Carrefour opened its first Kazakhstan store earlier in February and French home improvement chain Leroy Merlin has already opened three stores, according to the report.
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Carrefour Group's Western and Central Africa partners CFAO have also signed commercial deals to sell their products on Jumia's platform in Ivory Coast, Cameroon and Senegal, it added.
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Apple Pay est aussi compatible avec les cartes Carrefour Banque et Ticket Restaurant, tout du moins pour ceux qui ne sont pas condamnés à utiliser des chéquiers papiers.
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Late on Wednesday, Carrefour, Europe's largest retailer and second in the world only to Wal-Mart by sales, posted a steeper-than-expected fall in first-half earnings.
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DERIVATION SUMMARY Metro AG is more weakly positioned within the sector than competitors such as Carrefour (BBB+/Stable), Tesco (BB+/Stable) and Casino Guichard Perrachon SA (BBB-/Stable).
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Shares in Carrefour Brasil, one of the nation's two biggest food retailers, rose 3 percent after reporting a 5.3 percent increase in fourth-quarter gross sales on Tuesday.
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Carrefour is in the midst of a five-year overhaul plan unveiled in January to cut costs and jobs, boost E-commerce investment and expand into convenience stores.
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World No. 2 retailer Carrefour said sales growth slowed in the fourth quarter, as deadly November Paris attacks and unseasonably warm weather weighed on its core French business.
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Carrefour warned in August its operating profit could fall by around 12 percent this year, cutting its sales growth target to 2-4 percent at constant exchange rates.
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Carrefour had already flagged that it was targeting the Brazilian IPO this year to accelerate its expansion in the South American country, its second-largest market after France.
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A list of investors interested in buying Polish supermarket chain Piotr i Pawel includes Jeronimo Martins, Carrefour, Maxima Grupe, ITM Polska, as well as financial investors, Rzeczpospolita said.
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In addition to the account of Talarico and her disruptj20 page, the search warrant also seeks all information about the personal accounts of Lacy MacAuley and Legba Carrefour.
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The alliance will cover the strategic relations with global suppliers, the joint purchasing of own-brand products and goods not for re-sale, said Carrefour in a statement.
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However, it brought howls of anger from unions, employees' federations and France's finance minister and within 24 hours Carrefour said Plassat would forego a chunk of the cash.
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Leclerc, Auchan, Carrefour, Casino and Systeme U have all acknowledged that some of the baby milk remained on their shelves after the recall that began in early December.
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Unlisted supermarket operator Leclerc has a 21 percent share of the French market, Carrefour has 20.7 percent and Systeme-U 10.2 percent, according to industry data from Kantar.
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And earlier in June, the search giant announced a fresh partnership with French supermarket giant Carrefour to sell its groceries through Google's shopping site and Home smart speaker.
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Sources say that Pascal Clouzard, head of Carrefour Spain, Alain Caparros, the outgoing CEO of German retailer REWE, and Hubert Joly are on the list of likely candidates.
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The new food advisory committee will be led by Carrefour's Group Secretary General Laurent Vallée, who in January was tasked to spearhead food transformation across the Carrefour group.
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Along with domestic peers such as Carrefour and Auchan, Casino faces intense price competition in its home market as well as challenges from online players such as Amazon.
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Looking at particular stocks, the French firm Carrefour reported a stronger performance for the second quarter of the year on Thursday and kept its 2017 sales growth outlook.
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Calls on Thursday to branches and consumer hotlines for Carrefour, Wumart, Jingkelong and other supermarket chains in Beijing went unanswered or brought claims of uncertainty about the reports.
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PARIS, Jan 6 (Reuters) - French supermarket retailer Carrefour said on Monday that it had agreed to buy Dejbox, a start-up dealing in delivering lunches to office workers.
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The stock, which fell by 28 percent last year, was up 2.7 percent in early trading, also lifting shares in domestic rival Carrefour which rose around 1.6 percent.
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Along with domestic peers such as Carrefour and Auchan, it faces intense price competition in its home market as well as challenges from online players such as Amazon.
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The CEO's plans could also include converting some Carrefour hypermarkets into franchises and introducing Sunday opening for some of them, Force Ouvriere union representative Michel Enguelz told Reuters.
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"What's not clear at this stage is whether, like Carrefour, the sales beat at Casino will have come at the cost of higher promotions and price cuts," he added.
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Carrefour finance head Pierre-Jean Sivignon said market estimates for full-year 2016 earnings before interest and tax (EBIT) of around 2.45 billion euros was "achievable" $1 = 0.9111 euros
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"Following an unfavorable decision by the Supreme Court on May 9, 2019, Atacadão decided, as a precautionary step, to record a provision for the entire potential risk," Carrefour said.
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And now, big brands are using Wynd to manage their sales, such as Carrefour, Total, MK2 and Monceau Fleurs; 30 percent of the company's revenue comes from other countries.
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PARIS (Reuters) - Carrefour plans to axe 3,000 jobs at its large hypermarket stores in France through a voluntary scheme, more than previously announced, a spokeswoman told Reuters on Friday.
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Carrefour is confident investors may value the unit at a 13 percent premium to larger peer GPA SA's 14.5 billion-real ($4.6 billion) market capitalization, the same person said.
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Here, you can scoff a Burger King before wandering around a huge new Carrefour supermarket to stock up on French cheese, British-made breakfast cereals and Turkish-made clothes.
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PARIS, Dec 1 (Reuters) - French retailers Carrefour and Fnac Darty are in talks about an alliance to combine their purchasing power for electronics products, BFM business said on Friday.
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Under the plan, Carrefour said it would be offering more and faster home delivery, and it also signed a partnership with a unit of France's post office La Poste.
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Staying in Italy, Carrefour – Europe's largest food retailer – said it could cut up to 4 percent of its Italian workforce as it adjusts to slowing sales in the country.
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PARIS (Reuters) - Carrefour confirmed on Friday it had chosen Alexandre Bompard as its new chairman and chief executive following an eight month search at the world's second-largest retailer.
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In France, where Carrefour makes 47 percent of its sales, like-for-like revenues rose 1.5 percent in the fourth quarter following a 0.9 percent drop in the third.
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Carrefour had a 282 million euros improvement in cash-flow, while recurring operating profits at its competitive, key home French market rose by 6 million euros to 116 million.
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" The other two warrants seek "all information from the personal Facebook profiles of local DisruptJ20 activists Lacy MacAuley and Legba Carrefour from November 1, 2016 through February 9, 2017.
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At the top of the range, Carrefour Brasil would be worth 37.6 billion reais, twice the market value of GPA SA, controlled by archrival Casino Guichard Perrachon & Cie (CASP.PA).
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PARIS, June 21 (Reuters) - France's Competition Authority will conduct a two-month investigation into a proposal by leading supermarket group Carrefour and Cora's Provera to expand a purchasing alliance.
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The Times Tesco Plc has announced a "long-term strategic alliance" with the French supermarket giant Carrefour to reduce costs as they fight competition from Amazon and discounters. bit.
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Carrefour had earlier confirmed to Reuters that it was in talks over a conventional collective bargaining agreement, but the company did not specify any figures over possible job losses.
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In January 2018, Carrefour launched a five-year plan a year ago to cut costs, boost E-commerce investment and seek a partnership in China with tech giant Tencent.
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European retailers, however, rose 0.5 percent to a seven-week high after supermarket groups Carrefour and Ahold Delhaize posted trading updates and gained 7 percent and 2.9 percent respectively.
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The group's Chinese operations remained loss-making last year amid competition from local players and a buoyant online market but Carrefour said its general performance in China nevertheless improved.
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In China, which represents about 5 percent of group sales, Carrefour has already set out plans to expand in e-commerce and convenience stores and to open logistics centers.
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Analysts say floating Carmila, one of Europe's five largest commercial property firms, would allow Carrefour to get extra cash to fund its expansion and release value in its portfolio.
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PARIS, March 13 (Reuters) - The main unions at Carrefour called on Tuesday for a nationwide strike on March 31 to protest against job cuts at Europe's largest supermarket retailer.
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FNB head Jean-Pierre Fleury said Carrefour had given a "firm and definitive commitment" to ensure farmers are paid at levels covering their production costs for quality fresh beef.
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PARIS, June 18 (Reuters) - Former Carrefour chief executive Georges Plassat has joined Belgian private bank Degroof Petercam as a senior advisor, a spokeswoman for the bank said on Monday.
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Carrefour, which makes 73 percent of its sales in Europe, has suffered from a reliance on the hypermarket format it pioneered, as customers shift to local and online shopping.
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PARIS, March 10 (Reuters) - Carrefour, the world's second-largest retailer, said on Thursday it would boost investments to renovate and open stores this year as it cements its turnaround.
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T) human-like robot Pepper will be rolled out in Taiwan later this year with about 100 rented units making their appearance in some banks and Carrefour SA (CARR.
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Eco-Emballages, a French recycling company funded by food and beverage producers such as Coca Cola and Nestle and retailers like Carrefour, will help finance and operate the system.
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The GPA store will also follow a partnership struck in March by rival Carrefour Brasil to set up a fully automated 24-hour convenience store with local startup Zaitt.
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PARIS, Sept 11 (Reuters) - French retailer Carrefour is weighing a possible bid for its debt-laden rival Casino, potentially through an all-share deal, BFM TV reported on Wednesday.
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Carrefour, which opened its first store in China in 1995, operated 220 hypermarkets and 39 Easy convenience stores in the country, generating sales of 4.619 billion euros in 2017.
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In a securities filing last week, Carrefour confirmed talks to acquire the stores but denied Brazilian media reports it would acquire all of Makro's Brazilian operations for $1.2 billion.
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"Today is just the beginning, but tomorrow, who's to say this won't stop?" said Xavier Roche, a maintenance worker for another big supermarket chain, Carrefour, who joined the protests.
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"Today is just the beginning, but tomorrow, who's to say this won't stop?" said Xavier Roche, a maintenance worker for another big supermarket chain, Carrefour, who joined the protests.
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Carrefour Brasil's shares have risen over 7% so far in 2019, outpacing its main competitor Grupo Pao de Acucar SA, whose stock has fallen 1.2% over the same period.
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Carrefour bucked the trend, posting 8.5 percent growth in sales at existing stores, thanks to investments in hypermarkets and growth at Atacadão, the country's biggest cash-and-carry chain.
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Some analysts and former executives say one of Wal-Mart's biggest missteps was losing a bidding match for Atacadão to Carrefour, which paid $1.1 billion for it in 2007.
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Majid Al Futtaim has the franchise rights for French retailer Carrefour SA in 37 markets in the Middle East, Africa and central Asia and operates more than 280 stores.
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The move comes just a week after former Fnac Darty CEO Alexandre Bompard, who led Fnac's recovery, left the company to take the top seat at French retailer Carrefour (CARR.PA).
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The new Hudson's Bay store will fill a space formerly occupied by Target Corp in Carrefour Angrignon, an 850,000 square feet shopping center located in southwest Montreal, the sources said.
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PARIS, May 13 (Reuters) - French supermarket retailer Carrefour said on Monday that its Brazilian unit Atacadão would book a provision to cover for risks related to a Brazilian tax dispute.
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In France, where Carrefour makes 47 percent of its sales, like-for-like revenue rose 1.9 percent in the quarter, an acceleration from 0.5 percent growth in the first quarter.
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Carrefour, Europe's biggest retailer, is developing standalone organic food stores in Paris, as well as selling organic brands in its supermarkets, and this year acquired e-commerce organic supplier Greenweez.
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Since taking over as CEO in 2012 Plassat has led a recovery at Carrefour, focusing on price cuts and accelerating expansion into convenience stores and renovating stores to boost growth.
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The people said Carrefour hired the investment-banking units of JPMorgan Chase & Co, Bank of America Corp, Itaú Unibanco Holding SA and Goldman Sachs Group Inc to underwrite the offering.
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Air France KLM, supermarket chain Carrefour and electronics store FNAC Darty have borne the brunt of the selling this week, underperforming their peers as the busy Christmas holiday season begins.
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Hulot helped prepare the 2015 United Nations COP21 climate summit in Paris and has good relations with top French companies such as EDF, L'Oreal and Carrefour, who sponsor his foundation.
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Hulot helped prepare the 20123 United Nations COP21 climate summit in Paris and has good relations with top French companies such as EDF, L'Oreal and Carrefour, who sponsor his foundation.
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For example, Carrefour (BBB+/Stable) and Ahold Delhaize's (BBB/Stable) models are still evolving, but solid fundamentals should enable them to achieve their investment goals without damaging their financial profiles.
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Trump and his supporters have often dismissed demonstrations like the ones Carrefour and Becker are organizing, claiming that they are filled with professional protesters who are being paid to appear.
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Analysts at Bernstein, who kept a "market perform" rating on Carrefour, also said that much of the impact from the Brazilian IPO had already been factored into Carrefour's stock price.
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Trans Retail, which operates stores under the Carrefour and TRANSmart brands, may launch an initial public offering in 2020 when it has 200 stores, Chairul Tanjung told reporters in Jakarta.
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The 68-year-old, credited with saving Carrefour from a possible break-up, leaves a group which has progressed in most of Europe and in Brazil, its second-largest market.
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Carrefour, which opened two hypermarkets in Kenya last year through its UAE-based franchisee Majid Al Futtaim, will open a third this month in another shopping mall vacated by Nakumatt.
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Carrefour said in May that it would end its contracts as official sponsor of the French Football Federation and of the Tour de France, the world's most famous cycling race.
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SAO PAULO, Jan 16 (Reuters) - Brazilian food retailer Carrefour Brasil said on Tuesday its fourth quarter gross sales rose 5.3 percent from last year to 13.63 billion reais ($4.23 billion).
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The growing economies of East Africa have drawn in foreign retailers including Botswana's Choppies, South Africa's Game Stores and French retailer Carrefour through its Dubai-based franchisee Majid al-Futtaim.
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SAO PAULO, Oct 3 (Reuters) - French retailer Carrefour SA plans to take its Brazilian unit public in May, a newspaper reported on Monday, citing a source familiar with the matter.
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Bompard's new team includes managers from within Carrefour like finance head Pierre-Jean Sivignon as well as four from outside the group who will bring complementary expertise, the retailer said.
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In January, Carrefour announced plans to cut costs and jobs, boost e-commerce investment and seek a partnership in China in an effort to lift profits and compete with Amazon.
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TUNIS, Jan 9 (Reuters) - Tunisian police on Tuesday fired tear gas on protestors in the capital who were storming a Carrefour supermarket in an anti-government protest, a witness said.
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Carrefour also on Monday unveiled Act For Food, a worldwide program to educate customers about its initiatives to tackle issues such as food safety, product origin and relationships with farmers.
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As part of the deal, an investment structure dedicated to the "food transition" will be systematically funded by Carrefour and the banks based on Carrefour's "CSR and food transition index".
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Meanwhile, I'm told that one of the key assets being acquired is the network of partnerships that Szopi has been able to develop with retailers such as Auchan and Carrefour.
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In a securities filing, the Brazilian unit of France's Carrefour SA said revenue rose 8.1 percent in the third quarter from a year ago to 14 billion reais ($3.76 billion).
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The company launched the "Carrefour Le Marche" store in the center of Shanghai on May 22017, featuring functions such as cashierless checkouts supported by Tencent's popular social media app WeChat.
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Carrefour Brasil's shares have risen more than 11% so far in 2019, outpacing rival chain Grupo Pão de Açúcar SA, which have climbed less than 6% in the same period.
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"There is an ongoing discussion with Carrefour and it is not impossible that we reach an agreement quickly," Martinez said, adding that the purchasing deal would be limited to France.
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Carrefour on Sunday became the latest Western retailer to retreat from the Chinese market as fierce competition from domestic rivals and a growing online market puts pressure on foreign firms.
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"A food-driven volume recovery is a key element to a successful, sustainable food retail turnaround and there are signs that Carrefour is beginning to deliver on this," said HSBC analysts.
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"Prioux arrives in Carrefour Brasil at a moment of many challenges and opportunities," Abilio Diniz, the subsidiary's No. 2 shareholder and a member of parent Carrefour's board, said in a statement.
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Carrefour Brasil, which used part of the proceeds from the IPO to reduce debt, plans to sell 2 billion reais ($637.4 million) worth of commercial paper, according to a separate statement.
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PARIS, Feb 28 (Reuters) - Carrefour, the world's second-largest retailer, on Wednesday said its operating profit fell for the second straight year, as earnings dropped sharply in its core French market.
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A Carrefour spokesman made the comments after BFM Business radio reported that new CEO Alexandre Bompard was likely to push back announcing the revival plan to early 2018 from end-2017.
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BNP Paribas works in cooperation with French retailer Carrefour on an application which allows customers to pay for purchases with their mobile phones, while combining standard services with the payment options.
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The transaction seals the first phase of an association between Carrefour and Brazilian retail tycoon Abilio Diniz that started in 2014 and involved a thorough revision of the unit's business model.
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The hypermarkets, which make 51 percent of Carrefour sales in France, have been struggling to win back customers amid fierce price competition from more nimble rivals such as Leclerc and Amazon.
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In February, Carrefour said it would step up plans to downsize the hypermarkets and it also raised its cost savings goal to 2.8 billion euros by 2020 from 2 billion previously.
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Large food retailers such as Carrefour, Tesco and Sainsbury's have found themselves with excess capacity, leading to store closures and new strategies to fill space, such as introducing third-party concessions.
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It also hit French supermarket chains such as Leclerc, Auchan, Carrefour, and Systeme U which have all acknowledged that some of the baby milk remained on their shelves after the recall.
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French supermarket retailer Carrefour reported higher first-half profits and said it was on track with a strategic overhaul aimed at boosting earnings and tackling competition from the likes of Amazon.
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Carrefour, which is Europe's largest retailer, said 2017 sales reached 88.240 billion euros, a like-for-like rise of 1.6 percent but a slowdown from 3 percent growth achieved in 2016.
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BR Distribuidora, as the fuel distribution unit of state-controlled oil company Petróleo Brasileiro SA is known, won the Carrefour contract in an auction held at the end of last year.
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Beef farmers' first protest took place on Tuesday morning at a Carrefour store near the northern town of Rouen and were followed with wide-scale action on Wednesday including in Paris.
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Peninsula, which oversees more than 10 billion reais ($2.8 billion) in assets, would not say if it wanted other Carrefour board seats or if it planned to further raise its stake.
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Carrefour Brasil recently acquired a 49% stake in fintech EWally to introduce a digital bank account to its customers as early as next year, according to Chief Financial Officer, Sébastien Durchon.
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PARIS, April 25 (Reuters) - Carrefour, Europe's largest supermarket retailer, said on Wednesday it had struck a five-year purchasing deal with smaller, domestic peer Systeme-U to favour French agricultural producers.
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Some of the retailers, including Carrefour, Leclerc and Auchan admitted to human errors after some Lactalis products that had been returned by clients found their way back on to store shelves.
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Excluding PHS, Publicis's underlying sales would have gained 2.2 percent, Publicis said, thanks to gaining global clients in the first quarter such as Daimler's Mercedes-Benz brand, Carrefour and Marriott International.
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The unit of France's Carrefour SA reported fourth-quarter net income of 13 million reais, up 11.1 percent from a year ago, it said in a securities filing late on Tuesday.
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The Brazil-listed unit of France's Carrefour SA recorded major growth at its wholesale unit known as Atacadão , which gained relevance amid the slow recovery of the Brazilian economy from recession.
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French rival Carrefour also reported stronger-than-expected second-quarter sales last week while flagging a persistently challenging environment in France where price cuts helped its hypermarkets division return to growth.
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Cashiers, near the bottom rung on the wage ladder, made more than $2 more per hour at big food retailers in France like Carrefour than at similar American retailers like Walmart.
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DERIVATION SUMMARY Compared with food retail peers such as Carrefour SA (BBB+/Stable) or Casino Guichard-Perrachon SA (BB+/Stable), Picard is small, and has weak geographic diversification and high leverage.
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For Carrefour, the partnership with Tencent is the latest step in its attempts to stem a decline in sales in China amid competition from local rivals and a buoyant online market.
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Still, companies of all sizes — from Carrefour in Spain to Schnucks supermarket in St. Louis — are investing in tens of thousands of friendly-looking robots that are quickly upending human work.
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The 54-year-old also pursued growth by buying wholesaler Booker for nearly 4 billion pounds, forming a global purchasing alliance with Carrefour and launching a new discount format called Jack's.
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His remarks come as consolidation intensifies in Brazil's food retailing amid fierce competition from regional players and GPA's largest rival Carrefour Brasil SA as the country's economic expansion has remained weak.
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SAO PAULO, Feb 16 (Reuters) - The Brazilian unit of France's Carrefour SA has agreed to buy 30 stores from rival retailer Makro's Brazilian subsidiary, Makro said in a statement on Sunday.
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Kingfisher: Carrefour veteran Thierry Garnier succeeded Veronique Laury as CEO of Kingfisher, whose main businesses are B&Q and Screwfix in Britain and Castorama and Brico Depot in France, last month.
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When asked about his plans for Carrefour in France, Bompard said he did not rule out options such as turning some stores into franchises or closing loss-making stores, Enguelz said.
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DERIVATION SUMMARY Compared to food retail peers such as Carrefour SA (BBB+/Stable) or Casino Guichard-Perrachon SA (BB+/Stable), Picard is small, and has poor geographic diversification and high leverage.
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Outgoing Carrefour CEO Georges Plassat spearheaded the creation of Carmila in April 2014 as part of his strategy to revive the group's European hypermarkets by making them more attractive for shoppers.
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Carrefour has worked on the blockchain system together with IBM, which is collaborating with a number of retailers, logistics firms and growers on systems to track and secure their global supply chains.
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The list of participants to the workshops was still to be decided but several companies including retailers Carrefour and Auchan have said they had offered to take part in several of them.
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Leclerc announced the launch of a food delivery service in Paris last month, while Carrefour struck a partnership in China with Tencent and said it would boost its investments in the sector.
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The IPO could help Carrefour gain additional financial muscle to take on GPA, whose food division has recovered amid a steep decline in appliances sales because of Brazil's steepest recession on record.
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Carrefour, Europe's largest retailer, has spent years trying to fix its business in China where its 20183 sales fell 22018% to 21 billion euros and its operating loss was 20.8798 million euros.
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GOOD VALUATION The agreement with Suning values Carrefour's China operation, including debt, at 1.4 billion euros ($1.6 billion), with options to sell the remaining 20% stake if Carrefour decides to exit entirely.
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Carrefour China, which operates 210 hypermarkets and 24 convenience stores, had net sales of 3.6 billion euros and earnings before interest, tax, depreciation and amortisation (EBITDA) of 66 million euros in 2018.
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Europe's top retailer Carrefour has notably announced plans to cut 2,400 jobs in France, boost ecommerce investment and seek a partnership in China with Tencent in the face of competition from Amazon.
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Carrefour has sealed a purchasing alliance with Britain's Tesco and it has teamed up with Spanish start-up Glovo to provide a fast home delivery service in France, Spain, Italy and Argentina.
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Traditional retailers around the world, such as Carrefour, its French rival Casino and Marks & Spencer, are stepping up their online presence to deal with the increase in purchases done over the Internet.
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While about half of Tesco's sales already comes from private label goods, which tend to be more profitable for retailers than branded ones, the figure is only about a quarter at Carrefour.
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Ahold Delhaize closed down 9 percent in Amsterdam due in part to its large U.S. exposure, but Tesco was down 5 percent in London and Carrefour was down 3 percent in Paris.
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In Britain and France, online grocery was first offered by incumbents such as Tesco and Carrefour, while in China, the development has been led by Alibaba and JD.com partnering with traditional supermarkets.
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The company is mostly focused on having its products on the shelves of large retail chains such as Casino's GPA and Carrefour Brasil, but also eyes fast-food chains operating in Brazil.
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The group's Chinese operations slightly remained loss-making last year amid fierce competition from local players and a buoyant online market but Carrefour said its general performance was nevertheless improving in China.
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"The CFDT and FO unions at Carrefour call for all workers in all the group's companies to participate in a joint action on March 31," the CFDT union said in a statement.
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New Carrefour CEO Alexandre Bompard, who took over in July, is working on a turnaround plan for the French retailer which warned last month its 2017 profit could fall by 12 percent.
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In France, where Carrefour makes 47 percent of its sales, hypermarket sales fell by 1 percent year on year in the second quarter against a 2.3 percent decline in the first quarter.
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A Carrefour spokeswoman said on Wednesday that the filing of the prospectus, which contains financial information on Carrefour's Brazil business, was a preparatory and technical step ahead of the possible Brazil IPO.
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Operating in France, U.K. and Spain, the company says it facilitates "thousands" of deliveries per day for more than 500 customers, including Carrefour, Franprix, Burger King, The Kooples, Pizza Hut and Cdiscount.
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Carrefour on Sunday became the latest Western retailer to announce a retreat from the Chinese market as fierce competition from domestic rivals and a growing online market puts pressure on foreign firms.
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That's far higher than Carrefour's ratio of 7 times trailing EBITDA, according to Eikon data; Hong Kong-listed Sun Art Retail, which competes with Carrefour in China, trades in the same neighbourhood.
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The group kept all its other targets under its 2022 restructuring plan, including reducing by 350,000 square meters hypermarket sales areas and having Carrefour-branded products account for one-third of sales.
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Apart from a future purchasing alliance with Carrefour, Martinez said his group was mulling opening Fnac Darty shops within other retailers' stores and also progressively opening its logistics assets to third parties.
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"He was not a leader and was not affiliated with the groups we know," said François Deschamps, a job counselor at Carrefour Jeunesse, a community organization that helps young people find jobs.
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PARIS (Reuters) - Carrefour said revenue growth accelerated in the first quarter, driven by robust sales in Brazil and an improving performance in the core French market where hypermarket sales turned slightly positive.
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A Carrefour spokesman told Reuters the company would pay workers who agreed to leave voluntarily up to 50 percent more than the normal severance costs associated with letting workers go in Argentina.
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In the UAE, where the company says 88% of grocery customers shop at Carrefour, Bejjani said there were positive signs on consumer confidence in the retail market after a difficult two years.
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Carrefour China, which operates 210 hypermarkets and 24 convenience stores, had net sales of 3.6 billion euros and earnings before interest, tax, depreciation and amortization (EBITDA) of 66 million euros in 2018.
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It is likely too early to know what impact the Carrefour deal will have, but it sure seems significant that the operations will cross a hard line and switch between China's internet tribes.
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Ramesh Gopinath, one of the leaders of the IBM Food Trust, a global network of suppliers and retailers including Walmart and Carrefour, says that blockchain can also have a huge impact on efficiency.
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SAO PAULO, March 18 (Reuters) - Carrefour SA has nominated Brazilian billionaire Abilio Diniz, the French retailer's fourth-biggest shareholder, to become a board member, a statement from his investment company said on Friday.
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Carrefour, which is Europe's largest retailer, said sales at its French hypermarkets turned negative again amid bad weather conditions, further stiff competition from traditional and online rivals, and strikes during the Easter holiday.
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PARIS, Dec 21 (Reuters) - French retailer Carrefour on Thursday denied a media report it had mandated three banks to sell its businesses in China, Argentina and Poland as part of its turnaround plan.
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Meanwhile, L1, which owns Britain's Holland & Barrett, has touted the sector know-how of its retail team and advisory board, which include former executives of LIDL, Russia's X5 Retail Group and France's Carrefour.
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The transaction, slated to price July 18, seals the first phase of an association between Carrefour and Brazilian retail tycoon Abilio Diniz that started in 33 and involved revamping the unit's business model.
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In France, where Carrefour makes 47 percent of its sales, like-for-like revenue fell 0.9 percent following 1.9 percent growth in the second quarter, with both hypermarket and supermarket sales turning negative.
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French retailer Carrefour said on Thursday it was buying a majority stake in Quitoque, a French company that delivers meal kits to homes, as part of plans to beef up its digital offering.
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DUBAI, June 29 (Reuters) - Dubai's Majid Al Futtaim , the Middle East operator of French retailer Carrefour, has acquired 26 Geant hypermarket stores in the United Arab Emirates, Bahrain and Kuwait from BMA International.
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PARIS (Reuters) - French retailer Leclerc said it will replace rival Carrefour as the sponsor of the Tour de France cycling race's polka dot jersey, which is awarded to the best climber, from 2019.
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SAO PAULO, Nov 7 (Reuters) - Carrefour Brasil sees a still challenging economic scenario and lower food inflation keeping a lid on margin gains in its wholesale unit Atacadao, an executive said on Thursday.
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On March 18, Carrefour said it would ask shareholders meeting on May 17 to back the nomination to the board of Diniz, who has been granted observer status on the board since January. .
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Last month, people familiar with the matter told Reuters that Carrefour was exploring the sale of a minority stake in its loss-making business in China and had started sounding out potential buyers.
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But evidence of an improvement in its business performance has remained elusive, notably in France where Carrefour faces competition from the likes of Amazon and pressure from discounting at rivals such as Leclerc.
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Operating profit rose 33.4 percent in Europe, excluding France, driven by an economic recovery in Spain and Italy, while the Brazilian business held up well in the face of a recession, Carrefour said.
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Carrefour has targeted an initial public offering for the Brazilian unit this year, market conditions permitting, in order to accelerate its expansion in that country, which is its second-largest market after France.
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Carrefour cut its 2017 profit forecast for the second time in six months on Wednesday, as its new boss prepares to unveil a turnaround plan for the world's second-largest retailer next week.
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This year, Kenya is set to unveil the Two River malls in Nairobi, the continent's largest shopping center outside South Africa, with brands like Porsche, Hugo Boss and France's Carrefour already booking space.
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SAO PAULO (Reuters) - Carrefour Brasil expects food inflation to stabilize despite external factors such as a swine flu outbreak in China, Chief Executive Officer of wholesale unit Atacadão, Roberto Müssnich, said on Friday.
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Carrefour said in January it would revamp its food range and focus more on organic food as customers demand healthier products, under a global five-year plan to increase group sales and profits.
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PARIS (Reuters) - Pascal Clouzard, the new head of Carrefour France, will be quizzed about plans to revive the retailer's fortunes when he attends a meeting of the Works Council for France on Nov.
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Carrefour, which has over 5,200 grocery stores across France, said it will be launching a telephone ordering service with home delivery in Paris for people unable to travel and with no Internet access.
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French retailer Carrefour denied on Wednesday that it was examining a potential bid for debt-laden Casino, after BFM TV reported the firm was weighing up an all-share offer for its rival.
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In online sales, Carrefour Brasil reported a 44.2% rise led mostly by its third-party vendors, which represented around 23% of total e-commerce sales compared with a 16.1% share a year ago.
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The group maintained all its other targets under its 2022 restructuring plan, including reducing by 350,000 square metres its hypermarket sales areas and having Carrefour-branded products account for one-third of sales.
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The recently announced acquisition accelerates Carrefour Brazil's most profitable unit as competition intensifies in Latin America's largest market, where the wholesale segment has boomed as the country recovers tepidly from a deep recession.
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SAO PAULO, Dec 2 (Reuters) - Retailer Carrefour Brasil and healthcare companies Hapvida Participacoes e Investimentos SA and Sul America SA may enter Brazil's Bovespa equities index in 2020, the bourse said on Monday.
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Carrefour, the world's second-largest retailer, said sales growth slowed in the fourth quarter, reflecting a weaker performance in its core French market where hypermarket stores still lagged amid a persistently difficult environment.
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Tencent and JD.com have a growing range of allies, including French grocer Carrefour SA, which has announced a potential investment from Tencent, and U.S. retail giant Walmart, which has a stake in JD.com.
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The Atacadão division, Carrefour Brasil's fastest growing by sales, has met its goal of opening 20 new stores this year and plans to continue that pace, CEO Roberto Müssnich said in an interview.
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The deal values Carrefour China at 1.4 billion euros ($1.59 billion), debt included, and is expected to close by the end of 2019, pending regulatory approvals, the French retailer said in a statement.
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The warrants target three Facebook pages: the disruptj20 page, operated by Emmelia Talarico, which helped coordinate Inauguration Day protests in D.C., as well as the personal accounts of Legba Carrefour and Lacy MacAuley.
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Carrefour, led by Chief Executive Alexandre Bompard since 24, has spent years trying to fix its business in China where its 22018 sales fell 5.9% and its operating loss was 32 million euros.
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Carrefour is in the midst of a five-year plan launched one year ago to cut costs and jobs, boost E-commerce investment and seek a partnership in China with tech giant Tencent in an effort to lift profits and sales and tackle the growing competition from U.S. online retail giant Amazon The plan entails expanding into convenience stores and having a greater focus on organic products and private-labels, with Carrefour having recently sealed a purchasing alliance with Tesco.
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Carrefour is among several leading companies tapping into the growing use of blockchain to track where products come from, as consumers increasingly look to ensure that products meet standards on ethics and general safety.
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"The presence of modern retailers like Carrefour will also help to create jobs and support the growth of modern retail in Georgia," said EBRD Director Gilles Mettetal, Acting Head of Industry, Commerce and Agribusiness.
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Carrefour proposed raising its 53 dividend by 25 percent to 22016 euros a share after operating profit rose 22017 percent to 2.45 billion euros ($2.7 billion), in line with a Thomson Reuters poll forecast.
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Carrefour Brasil, which went public last month in Brazil's largest initial public offering in four years, earned 279 million reais ($88 million) in profit last quarter - up 9.9 percent from the year-ago period.
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Notably, the order requires Facebook to redact the personally identifying information of all third parties—meaning the friends and family of MacAulay and Carrefour, as well as the 6,000 fans of the DistruptJ20 page.
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The move is related to a series of management shuffles taking place at parent Carrefour, which earlier in the day created a 14-member executive committee to help revitalize the world's No. 2 retailer.
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Chasing Alibaba's shadow, Tencent's retail footprint is most closely associated with its alliance with JD.com — we visited their flagship store last year — but Tencent also ran hybrid stores in partnership with Carrefour in Beijing.
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Atacadão had been the subject of 240 tax disputes in several Brazilian states for a total amount of 815 million Brazilian Reais, or approximately 183 million euros ($205.5 million), Carrefour said in a statement.
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Carrefour, Europe's largest retailer, said that its overhaul plan aimed at boosting earnings was on track even though sales growth slowed in the third quarter, reflecting a weaker performance in its core French market.
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PARIS, Oct 18 (Reuters) - Carrefour, the world's second-largest retailer, said sales growth slowed sharply in the third quarter on weakening demand in its core French market, highlighting the challenge facing its new boss.
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PARIS, April 24 (Reuters) - Carrefour said revenue growth accelerated in the first quarter as hypermarket sales in its core French market turned slightly positive, suggesting the retailer was making progress with its recovery plan.
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Carrefour shares were down 15 percent at 16.52 euros in mid-session trading, its lowest level in around five years, and with the stock set for its biggest one-day percentage fall on record.
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The Carrefour and Google tie-up, which will go live in early 2019, comes amid a shake-up in France's competitive food retail market, as rivals also make a big push into online shopping.
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"We have the potential to do our work in 80 to 85 cities," Roberto Mussnich, head of Carrefour Brasil's wholesale division, told investors and analysts at the company's annual investors' day in Sao Paulo.
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Chief Financial Officer Sébastien Durchon said the mobile app already corresponds to over a third of e-commerce sales and a partnership with Colombian delivery startup Rappi is helping Carrefour Brasil attract new customers.
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"With this new partnership, Glovo and Carrefour will offer a 30-minute home delivery service that complements their existing e-commerce offers and allows them to address the needs of new customers," she added.
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Analysts say floating Carmila, which ranks among Europe's five largest commercial property firms, would allow Carrefour to get extra cash to fund its expansion and also unlock some hidden value within Carrefour's asset portfolio.
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By 0739 GMT, Carrefour shares were down 2.17 percent at 17.14 euros, among top decliners on the CAC-40 index of French blue chips (Reporting by Dominique Vidalon, Pascale Denis; Editing by Leigh Thomas)
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PARIS, June 15 (Reuters) - Carrefour shareholders on Thursday voted to grant a second board seat to Peninsula, the family holding company of Brazilian billionaire Abilio Diniz, who is the French retailer's third-largest shareholder.
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O). Carrefour is also expanding into convenience stores to reduce its reliance on big hypermarkets, focusing more on organic products and private-labels, having recently sealed a purchasing alliance with British rival Tesco (TSCO.
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"With the labor reform approved and Congress in recess, there's a window of opportunity for companies looking to seize on demand for Brazilian equities," said one fund manager who participated in the Carrefour listing.
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Investors cheered plans by Europe's biggest retailer Carrefour to slash costs, open its loss-making Chinese business to new investors and spend more heavily on e-commerce in the face of competition from Amazon.
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Despite the recall, thousands of the affected products were still being sold by pharmacies, hospitals and at least seven of France's biggest retailers — including Auchan, Carrefour, Casino and Leclerc — during the busy holiday season.
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Carrefour would not commit to specific profit growth targets for 2020 or beyond because finance chief Matthieu Malige said there was a "macro environment, a societal and now sanitary environment, that is extremely volatile".
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Carrefour veteran Thierry Garnier is due to succeed Véronique Laury as CEO of Kingfisher, whose main businesses are B&Q and Screwfix in Britain and Castorama and Brico Depot in France, on Sept. 21.8.
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Carrefour Brasil, like arch rival GPA, owned by France's Casino Guichard Perrachon SA, has made a significant bet on the cash-and-carry format, a no-frills wholesale-style shopping experience for final customers.
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Kingfisher shares slumped as much as 193% after its trading update and as Carrefour veteran Thierry Garnier, who succeeded Véronique Laury as chief executive in September, outlined major problems that need to be addressed.
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PARIS (Reuters) - Carrefour boss Alexandre Bompard said he had no plans to exit other countries after the French supermarket retailer agreed to sell a majority stake in its Chinese operations to electronics retailer Suning.com.
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Carrefour, which signed a partnership with Tencent last year in an attempt to stem a decline in sales in China, said earlier it had agreed to sell 80% of its Chinese business to Suning.com.
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Carrefour follows other big-name Western retailers such as Tesco Plc and Walmart Inc, which have sold stakes to domestic partners, and Amazon which plans to shut its online store in China next month.
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Hot on the heels of Amazon's decision to shutter its local marketplace, Carrefour — another global commerce giant — is switching up its approach to China, and shifting the balance of power between the country's tech giants.
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PARIS (Reuters) - French retailer Carrefour and U.S. waste recycling company TerraCycle launched on Tuesday the test for their 'Loop' initiative which they hope will tackle the problems of plastic waste threatening to destroy the environment.
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Casino, which had its credit rating cut to junk by Standard & Poor's in March 2016, is under pressure to show it can revive profits in France, where it competes with bigger rivals such as Carrefour.
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PARIS, July 6 (Reuters) - Carrefour, the world's second-largest retailer, said sales growth accelerated in the second-quarter, reflecting an improving performance in its core French market and robust sales in the rest of Europe.
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That was extended in mid-May to concern all distributors of the suspect cheese, including retailers Carrefour and Intermarché, which sold the cheese produced in Cruseilles in the Haute-Savoie region under their own brand.
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Grupo Carrefour Brasil will start an online grocery shopping and rewards platform in Sao Paulo this week, executives said on Monday, deploying fresh capital to boost its e-commerce presence in a fiercely competitive market.
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PARIS, April 11 (Reuters) - Carrefour said sales growth slowed in the first quarter amid continued weakness in its core French market, reminding investors that the road to recovery for the supermarket retailer would be long.
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On the positive side, Carrefour rose 3.9 percent after saying that sales rose in its key European markets of Spain and Italy and in Brazil in the first quarter, offsetting a lacklustre performance in France.
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In addition to the rolling SNCF strikes, tensions are also growing in lower-profile conflicts over nursing home workers, rubbish collectors, university reform, job losses at the Carrefour supermarket chain and Air France pilots' wages.
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The deal could take time to take effect as private-label contracts run for one to two years and suppliers will have to cross check prices of products sold by Tesco and Carrefour, Marin added.
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Analysts at Fitch Ratings do not expect the Tesco-Carrefour partnership to be subject to competition scrutiny as they have hardly any geographic overlap, although regulators could start paying more attention if more alliances emerge.
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SAO PAULO (Reuters) - Carrefour Brasil SA, the country's largest food retailer, expects e-commerce margins to improve as it adds more sellers to its marketplace platform, executives told analysts in a conference call on Thursday.
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The figures reflect growth in a sector that has seen Amazon and others make inroads, putting pressure on bricks-and-mortar retailers like Carrefour to accelerate their own digital offerings, cost cutting and purchasing alliances.
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PARIS (Reuters) - Carrefour plans to cut 1,229 jobs as it downsizes its large hypermarket stores in France under a plan to boost sales and profits at Europe's largest retailer, the Force Ouvriere union told Reuters.
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Carrefour, which makes 73 percent of its sales in Europe, is pursuing a global revival by focusing on price and cost cuts, and expansion into smaller convenience stores, while also renovating its core hypermarket network.
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Diniz and his family, who bought a stake in Carrefour's Brazilian unit more than a year ago, said on March 18 they were reviewing their earlier decision to maintain their stake in Carrefour SA unchanged.
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The subsidiary of French group Carrefour SA has increased investments in recent years to open new business fronts in a move to secure food retail leadership in Brazil, the parent company's largest market after France.
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"By the equivalent stage in his tenure Dave Lewis had already had a marked impact on Tesco's like-for-like sales performance," said Bernstein analyst Bruno Monteyne, who kept a "market perform" rating on Carrefour.
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Alexandre Bompard, who took over in July, is working on plans to try to revitalize Carrefour, the world's second biggest retailer, which warned last month its 2017 operating profit could fall by around 12 percent.
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In the UK, a Greenpeace online petition asking supermarkets to "ditch throwaway plastic packaging" has more than 500,000 signatures, and international retailers including Lidl and Carrefour have recently announced initiatives to reduce their plastic waste.
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Carrefour and Systeme-U said they would aim to offer "fair compensation" to French farmers, a powerful voice in the country's political system who have lobbied President Emmanuel Macron to do more to help them.
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Vanmarcke attacked in the Carrefour de l'Arbre, one of the most feared cobbled sectors, but Team Sky's Stannard worked hard to help rein in the Lotto-JumboNL rider and eventually Harman was the freshest man.
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In China, where Carrefour is restructuring its operations, slowing consumer spending remained a challenge, but the rate of decline in sales slowed to 21.2 percent like-for-like from 20.6 percent in the second quarter.
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Leclerc currently has no stores in Paris, but in a challenge to domestic rivals Carrefour and Casino, plans to open a hypermarket in 2180 near Montparnasse train station and possibly more hypermarkets in the capital.
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Chinese shoppers will be able to create a Carrefour account before they enter the store and link it to their WeChat profile and pay with just a face scan, or use WeChat to pay online.
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Casino, along with domestic peers such as Carrefour and Auchan, faces intense price competition in its home market as well as challenges from online players such as Amazon, which has made inroads in the sector.
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Majid Al Futtaim, an unlisted holding company that owns and operates shopping centres and hotels in the Middle East and North Africa, also has the franchise rights for French retailer Carrefour SA in 37 markets.
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One of the most successful responses to the pressures of the last few years has come from Carrefour, which has turned around its core French operations, improved its geographic balance and diversified its store formats.
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Looking across the European benchmark, Carrefour rose 12.01 percent after reporting a profit increase in the first half of the year, whereas Kering fell 7.72 percent after Gucci sales came in slightly weaker than forecasts.
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The Brazilian unit of France's Carrefour SA posted second-quarter net income of 440 million reais ($119.31 million), 47 percent above the same period last year, topping the Reuters consensus estimate of 366 million reais.
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This innovative idea comes out of Brazil, where a network of conservation organizations have teamed up with the Carrefour supermarket chain to test-market all-natural beef that is raised in an extra-sustainable manner.
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"The board of directors also acknowledged the barriers, in France and in Brazil, to a combination with Carrefour, especially in terms of competition and employment," the owner of Monoprix and Geant supermarkets said in a statement.
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"I project that within five years, for all the existing retailers like Walmart and Carrefour in China, 50 percent of their sales will be online, will be providing one-hour e-commerce shopping experience," he said.
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Carrefour Brasil continued to gain participation in the segments of cash and carry, hypermarkets and convenience stores over the first half, Chief Executive Officer Charles Desmartis said in a conference call to discuss second-quarter results.
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BUENOS AIRES (Reuters) - French retailer Carrefour agreed to voluntary buy-outs with workers in Argentina as part of a crisis prevention plan that aims to end three years of losses, a union representative said on Wednesday.
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PARIS, Dec 13 (Reuters) - Carrefour has started searching for a successor to its chairman and chief executive Georges Plassat, whose mandate at the helm of Europe's largest retailer expires in May 2018, sources said on Tuesday.
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The Turkish affiliate of French supermarket chain Carrefour plans to hire at least 3,000 new workers and invest at least 100 million lira ($29 million) on its business this year, its general manager said on Tuesday.
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PARIS, June 11 (Reuters) - France's largest food retailer Carrefour is partnering with Alphabet's Google to make groceries available on the U.S. search engine's dedicated shopping site or through voice-assisted devices, the companies said on Monday.
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Despite having taken a writedown on the Sapient acquisition in 2016, Publicis said it was instrumental in gaining of new global clients in the first quarter such as Daimler's Mercedez-Benz brand, Carrefour and Marriott International.
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Carrefour shares initially fell at the start of trading before recovering to stand 0.8 percent higher at 17.40 euros by 0914 GMT, although the stock remains down by around 24 percent since the start of 2017.
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PARIS, Sept 14 (Reuters) - Carrefour said on Friday that its digital chief Marie Cheval will replace Alain Rabec as head of its French hypermarket stores, in the latest shift among senior management at Europe's largest retailer.
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Auchan, which faces pricing pressure at home from the likes of Carrefour and Leclerc as well as competition from Amazon, also suffered last year from problems with its turnaround plans, its new boss said on Friday.
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The head of the watchdog, Bruno Lasserre, told a hearing before the National Assembly's Economic Affairs Commission on Tuesday that it had received notification of a further alliance between Carrefour and Provera on non-premium products.
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Casino, along with domestic peers such as Carrefour and Auchan, faces intense price competition in its home market as well as challenges from online players such as Amazon which has made in-roads in the sector.
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"The acquisition of Booker is progressing well, and a recent buying agreement with ... Carrefour will give Tesco extra muscle in a market where it may soon face the combined power of Sainsbury's and Asda," he said.
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In March, French retailer Carrefour, which has a purchasing deal with Fnac Darty, said it had joined forces with Google to create an online voice assistant called "Lea" as part of the French retailer's digital expansion.
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PARIS (Reuters) - Fresh from combining Fnac bookstores and electricals chain Darty to better take on Amazon in France, Alexandre Bompard faces the challenge of reviving another ailing retail format when he becomes boss of Carrefour (CARR.
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Last month Carrefour, which has made reviving sales at its French hypermarket stores where it employs 60,000 people a priority, raised its savings goal to 2.8 billion euros ($3.2 billion) by 2020 from 2 billion previously.
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Chief Executive Enrique Martinez confirmed during a call that Fnac Darty and French retailer Carrefour were discussing an alliance to negotiate better terms when purchasing from electronics suppliers and that a deal could be clinched soon.
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When asked if Carrefour could exit underperforming countries such as Italy or China, Alexandre Bompard told an annual shareholders meeting he was confident his overhaul plan "could improve the operational situation in each of our countries".
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SAO PAULO, May 24 (Reuters) - Carrefour, the world's second-largest retailer, on Wednesday said Brazilian subsidiary Atacadão S.A. had filed a draft preliminary prospectus with the local securities regulator regarding its previously announced share-listing plan.
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BRASILIA, April 10 (Reuters) - Gross sales at food retailer Carrefour Brasil SA rose 6 percent to 12.289 billion reais ($3.6 billion) in the first quarter from the year before, according to a securities filing on Tuesday.
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PARIS (Reuters) - French supermarket chain Carrefour said on Tuesday it would end its contracts as official sponsor of the French Football Federation and of the Tour de France, the world's most famous cycling race, from 2019.
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Carrefour said on Saturday that Plassat, who stepped down in July 2017 after five years in charge, would not trigger a clause that would see him pocketing nearly 4 million euros for not joining a competitor.
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GPA, like its main rival Carrefour Brasil, has been betting big on the cash-and-carry format, which offers a wholesale experience to final customers, as a three-year recession pushed Brazilians to aggressively seek discounts.
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Carrefour, which makes 73 percent of its sales in Europe, is pursuing a global revival by focusing on price and cost cuts, and expansion into smaller convenience stores, while also renovating its core traditional hypermarket network.
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In France, Carrefour, like smaller peer Casino, suffered setbacks ranging from bad weather to strikes that hit sales at its French hypermarkets while the integration of the loss-making Dia discount stores still weighed on profitability.
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French national Garnier, 13, who has spent 20 years in senior roles at Carrefour and is currently head of its Asia operations, will join Kingfisher in the autumn, though the date is yet to be finalised.
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Its busy first day came as other big-name Western retailers such as Amazon, Tesco and Carrefour, are retreating from China having struggled to win market share in the face of strong competition from domestic rivals.
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Carrefour Brasil, like competitor GPA - owned by France's Casino Guichard Perrachon SA - has consistently posted rises in net revenue in recent quarters, as a downturn in Brazil's food retail market eases and both firms expand significantly.
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E-commerce business at Carrefour Varejo jumped some 106 percent from the same quarter a year ago, the firm said, composing 6.9 percent of sales, up from 3 percent in the same quarter a year ago.
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According to the executive, the local subsidiary of France's Carrefour SA aims to spend less than 10 million reais on each of the conversions, which should begin only after local antitrust regulator Cade approves the transaction.
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"We see competitors no longer betting on this format, but for us hypermarkets continue to be key in our ecosystem, as they help us boost banking services," said Luis Moreno, chief executive of Carrefour Retail unit.
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Trans Retail, which operates stores under the Carrefour and TRANSmart brands, could launch an initial public offering in 2020, by which time it aims to have 200 stores, Tanjung said at a press conference in Jakarta.
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