We also expect hypermarket operators to open more compact stores, which should reduce the size of the average Russian hypermarket by around 300 square metres to 4,200 square metres over the medium term.
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Homeplus, South Korea's second-largest hypermarket chain with 142 stores, declined comment.
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She is unemployed, having lost her job at a defunct government hypermarket.
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AL-FUTTAIM GROUP TO ENTER UGANDAN MARKET BY OPENING CARREFOUR HYPERMARKET ON DEC.
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This means that hypermarket footfall in Russia could still grow as consumer sentiment improves.
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Metro said last week that it plans to sell its struggling Real hypermarket chain.
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Kaufland is the hypermarket chain owned by the Schwarz group which also runs Lidl.
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Limited Format Diversification: The ratings are constrained by Lenta's limited diversification outside its core hypermarket format.
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Improving the French hypermarket business is a priority for CEO Alexandre Bompard, who joined in July.
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They added the hypermarket business was responsible for a 0.8 percent drop in Carrefour's market share.
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Hypermarket and supermarket sales both turned negative in France, which accounts for nearly half of group revenue.
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The group has relied for too long on the fading hypermarket model it pioneered in the 1960s.
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On November 20th Alibaba, an e-commerce giant, bought 36% of Sun Art Retail, a hypermarket retailer.
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Improving the French hypermarket business is a priority for new boss Alexandre Bompard, who joined in July.
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But for a hypermarket a couple of hours before the after-work rush, it looks positively barren.
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In the fourth quarter hypermarket sales were also hit by transport strikes in France against pension reforms.
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In the fourth quarter hypermarket sales were also hit by transport strikes in France against pension reforms.
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Improving the French hypermarket business is a priority for new Chief Executive Alexandre Bompard, who joined in July.
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It remained unclear whether the ECE/MSRE consortium was working with a hypermarket group as an additional partner.
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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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The weather also hurt non-food sales at its Geant hypermarket, which fell 9.6 percent in the quarter.
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HK), China's biggest hypermarket chain, and the Chinese arms of global retail giants Wal-Mart Stores Inc (WMT.
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French hypermarket sales also improved, rising 0.7 percent in the fourth quarter after falling 1.7 percent in the third.
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In the hypermarket they direct shoppers with a Luciom dongle on their smartphones to the locations of desired items.
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Future Retail operates six retail chains, including popular hypermarket Big Bazaar, and has more than 1,500 stores across India.
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The two companies also collectively own or control four out of five of China's largest hypermarket and supermarket chains.
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On Sunday, Future Retail, which owns hypermarket Big Bazaar, said the pandemic, has resulted in a "degrowth of revenue".
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Last year, it bought major holdings in hypermarket firm Sun Art ($2.9 billion) and shopping mall operator InTime ($2.6 billion).
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The group, which has a total of 472 hypermarkets in China, opened 11 new hypermarket complexes in the first half.
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Hypermarket sales were down 3.4% in the last three months of the year after falling 3.6% in the third quarter.
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This is principally due to lower profitability, driven by the group's still high reliance on the lower-margin hypermarket format.
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It ended the year with 446 stores and a market share of 14.6 percent, making it China's second-largest hypermarket operator.
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It faces a costly overhaul and is expected to sell its Chinese hypermarket stores for a fraction of what it invested.
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We believe the company may take this opportunity to restructure or even dispose of part of the unprofitable China hypermarket division.
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Luciom has already installed such beacons in the ceiling lights of Orly airport, near Paris, and in a hypermarket in Lille.
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Metro Chief Executive Olaf Koch underlined in an interview with Sueddeutsche Zeitung the importance of cutting costs at hypermarket chain Real.
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His father, Christian, also the son of a grocer, would make it big there, eventually running a hypermarket franchise for E.Leclerc.
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Metro also said earnings would be hurt by a long-running pay dispute with staff at its struggling Real hypermarket chain.
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Mid-sized food retailer O'Key said in April that Russia's largest lender Sberbank had expressed an interest in its hypermarket business.
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Nomura analysts Cara Song and Jiun Im cited a larger-than-expected THAAD impact on the retailer's hypermarket business in China.
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The company's Real hypermarket chain is not up for sale, Metro Chief Executive Olaf Koch told Sueddeutsche Zeitung in an interview.
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However we believe the longer-term impact on the company's financial profile is likely to be positive as the Chinese hypermarket operation has been generating operating losses of well over KRW100 billion per annum for the past three years and has not turned a profit since the acquisition of Times, a Chinese hypermarket operator, in 2009.
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Revenues improved at its Geant hypermarket stores, Monoprix and Franprix convenience stores, outpacing the LeaderPrice discount stores where sales were still weak.
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The owner of a popular hypermarket, Refah, the Iranian equivalent of Walmart, said shops in three of its locations had been ransacked.
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The Schwarz group that owns Lidl and the Kaufland hypermarket chain plans to invest 6.5 billion euros in the current fiscal year.
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It will be spun off together with the struggling Real hypermarket chain, which Metro has tried and failed to sell in the past.
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Big C is Thailand's second-largest hypermarket operator after Tesco's Thai unit, and has a market capitalisation of 163.25 billion baht ($4.60 billion).
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Alexandre Bompard, who took over as CEO in July, is trying to overhaul Carrefour's French hypermarket business as well as expand online retail.
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Big C is Thailand's second-largest hypermarket operator after Tesco's Thai unit, and has a market capitalisation of 163.25 billion baht ($4.49 billion).
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And hypermarket chain Auchan said in December it was stepping up investment in Russia, saying the economy there has largely adapted to sanctions.
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MOSCOW (Reuters) - Russian mid-sized food retailer O'Key said on Friday that Russia's largest lender Sberbank had expressed interest in its hypermarket business.
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It has put its struggling Real hypermarket chain on the block and attracted interest from private equity groups such as Cerberus and Apollo.
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According to Reuters, this IPO would be the first by a Russian retailer since hypermarket chain Lenta sold shares in London, back in 2014.
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Some now serve extended families with hundreds of members—over 600 in the case of France's Mulliez clan, owners of the Auchan hypermarket chain.
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On 13 September, Lotte said it has appointed an advisor to sell the Chinese hypermarket operation, but that nothing specific has been decided yet.
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This is based on 5% annual sales growth in O'Key's core hypermarket and supermarket formats, which in turn is driven by new store openings.
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In France, where CEO Bompard has made reviving flagging sales at hypermarket stores a priority, operating profit fell 43.3 percent to 466 million euros.
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Casino announced a 4-billion-euro disposal plan in 2016, including the sale of its Vietnam unit and its stake in the Thai hypermarket chain.
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According to Emad Maher, manager of hypermarket chain Samy Salama, switching to local products has increased by 90 percent, mainly because of the price difference.
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The plan includes expanding into convenience stores to reduce exposure to large hypermarket stores and having a greater focus on organic products and private labels.
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In France, where CEO Alexandre Bompard has made reviving flagging sales at hypermarket stores a priority, operating profit fell 43.3 percent to 466 million euros.
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" There are interesting new adjectives (or nouns turned into adjectives): "A hypermarket, a pharmacy, a dun huttish structure topped with a blinking red neon star.
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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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Improving the French hypermarket business is a priority for CEO Alexandre Bompard, who last month put digital chief Marie Cheval in charge of the stores.
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U.S. hypermarket chain Costco received a verbal warning from authorities in Shanghai after a large crowd flocked to its newly opened store in the city.
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Costco Wholesale reported quarterly revenue below Wall Street estimates on Thursday, as the U.S. hypermarket chain struggled to attract shoppers in the competitive grocery space.
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In particular, the hypermarket division posted zero operating profit, due to a sluggish top line and higher costs related to product restructuring at its stores.
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The plan notably includes expanding into convenience stores to reduce exposure to large hypermarket stores and having a greater focus on organic products and private labels.
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In February, TCC Group beat Central Group to buy Casino's majority stake in Thai hypermarket operator Big C Supercenter PCL for 3.1 billion euros excluding debt.
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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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The company's executives also said O'Key expected its hypermarket unit to achieve an EBITDA margin of 7.8 percent this year, up from 6.8 percent in 2017.
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Metro last week reported slightly lower than expected profit in the critical Christmas quarter, hurt by the performance of its cash and carry and hypermarket businesses.
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Now shunned in China because of the golf course deal, Lotte is expected to sell its Chinese hypermarket stores for a fraction of what it invested.
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Auchan, however, warned of a potential impact of the coronavirus outbreak on its Chinese hypermarket operator Sun Art Retail which is already struggling amid fierce competition.
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In France, where CEO Alexandre Bompard has made reviving flagging sales at hypermarket stores a priority, operating profit rose 15.6%, also in line with company's guidance.
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FRENCH PROFITABILITY In France, where Bompard has made reviving flagging sales at hypermarket stores a priority, operating profit rose 15.6%, also in line with company guidance.
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In France, where CEO Alexandre Bompard has made reviving flagging sales at hypermarket stores a priority, operating profit rose 15.6%, also in line with company's guidance.
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He said he would wait to see what happens with Metro's plans to sell its struggling German hypermarket chain Real and find partners for its China business.
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The new store Walmart opened there this month is roughly 260,000-square-meters large, nearly half the size of a typical Walmart "hypermarket," according to a release.
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The National Agricultural Cooperative Federation employs more than 35,000 full-time and part-time workers at dozens of affiliate companies, including a bank and a hypermarket chain.
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It also entails expanding into convenience stores to reduce its exposure to large hypermarket stores, and on having a greater focus on organic products and private-labels.
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The ratings continue to reflect O'key's strong positioning in the hypermarket food retail segment in Russia, high profit margins and customer loyalty owing to a strong brand.
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As a result, the company posted an operating loss of KRW83 billion in its overseas hypermarket operations in 1H17, with most of the losses coming from China.
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France's Casino Group was Europe's top performer, ending up 4.8 percent after it said it would sell its majority stake in Thai hypermarket operator Big C Supercenter.
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Metro also made some progress at reining in losses at its struggling Real hypermarket chain after it closed unprofitable stores, trimmed costs and secured better purchasing conditions.
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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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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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During her portion of the presentation, McKenna said that Dada-JD Daojia provides Walmart Hypermarket, Walmart Supermarket, and Sam's Club customers with a one-hour delivery service.
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Fitch views positively the recent changes in strategy toward less capital-intensive hypermarket openings, focusing on operating efficiencies and the acceleration in discounter format openings in 2016-2017.
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Shalome Pinto shared pictures with CNN from Lulu Hypermarket in Doha and said her usual two-minute wait at the checkout line was 30 minutes amid the rush.
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Fears of anti-Semitism have worsened in the city since the siege at a kosher hypermarket in Paris in which four Jewish hostages were killed in January 2015.
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MOSCOW, Dec 22017 (Reuters) - French hypermarket operator Auchan is stepping up its investments in Russia, its third biggest market, saying the economy there has largely adapted to sanctions.
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In France however, where Bompard has made reviving flagging sales at hypermarket stores a priority, operating profit sank 44.8 percent to 110 million euros in the first-half.
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On Monday, Alibaba announced a HK$22.4 billion ($2.9 billion) investment in a stake in Sun Art, China's top hypermarket operator, in which Auchan also has the biggest stake.
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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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Germany's antitrust watchdog is expected to view with concern a takeover of Real by one of the other large hypermarket groups as it could be seen as hampering competition.
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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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The French retailer said it had agreed to sell its majority stake in Thai hypermarket operator Big C Supercenter for 2400 billion euros excluding debt to Thailand's TCC Group.
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DUESSELDORF, July 21 (Reuters) - German consumer electronics retailer Ceconomy and food wholesale and hypermarket company Metro are still eyeing opportunities in Turkey, spokespeople for the companies said on Friday.
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The limitation of promotions could also benefit discounters who have mostly Every Day Low prices strategies and reduce the attractiveness of the hypermarket stores, which are more focused on promotions.
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Metro shareholders voted overwhelmingly last month to back a plan to split off the group's wholesale and hypermarket food business from Media-Saturn, Europe's biggest consumer electronics group, this summer.
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It also plans to expand its hypermarket and supermarket formats but as a whole will maintain a conservative approach to expansion due to a tough macroeconomic environment and intense competition.
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Alibaba is continuing its expansion into offline retail after the Chinese e-commerce giant bought up more than one-third of one of Chinese most prolific operators of hypermarket stores.
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Net worth:£12.0 billion Age: 77 As owner of Schwarz-Gruppe, Dieter Schwarz runs budget supermarket chain Lidl and German hypermarket chain Kaufland, and is the richest man in Germany.
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She said the company's expansion plans for new supermarket, hypermarket and convenience store outlets were being scaled back for next year due in part to a lack of "encouraging economic policies".
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BANGKOK (Reuters) - The label on the pink and white box of face cream sold in a Bangkok hypermarket proudly declares that it is based on a "snail secretion filtrate moisture system".
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HK) offered a slightly downbeat outlook for growth in its mainstay hypermarket business on Monday, as investors dumped its stock after hopes for a tie-up with Alibaba Group Holding Ltd (BABA.
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The group said it expects its consumer electronics unit, to be renamed Ceconomy, to lead consolidation in the sector after it is split from the wholesale and hypermarket food business next year.
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Analysts have speculated that the revamp could go further since Czech investor Daniel Kretinsky took a stake in the company, which last month announced plans to sell its struggling Real hypermarket chain.
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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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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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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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Fitch's downgrade of Lotte's ratings reflects the company's continued weak operations in 1H16 and our view that recovery will be slower than expected, especially in the company's domestic hypermarket and Chinese operations.
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HONG KONG, Feb 20 (Reuters) - Hypermarket operator Sun Art Retail Group Ltd said on Monday it will slow the pace of store openings in 2017 amid intensifying competition in China's retail sector.
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Shareholders in Metro overwhelmingly voted on Monday to back a plan to split off the group's wholesale and hypermarket food business from Media-Saturn, Europe's biggest consumer electronics group, to be renamed Ceconomy.
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KEY ASSUMPTIONS Fitch's key assumptions within our rating case for the issuer include: - Revenue growth of, 7% per year supported by 5% revenue growth in hypermarket and supermarket formats and discounter format openings.
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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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Shareholders in Metro voted in February to back the plan to split the group's wholesale and hypermarket food business from Media-Saturn, Europe's biggest consumer electronics group, by the middle of the year.
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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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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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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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Metro took an impairment of 385 million euros for Real for the first nine months of its 2018/19 fiscal year, when the hypermarket chain saw like-for-like sales fell by 0.8%.
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Sun Art will adopt "Taobao Daojia", the Alibaba business model that aims to enable traditional hypermarket and supermarket businesses to increase business efficiencies by utilizing internet technologies and traffic at Taobao, Alibaba's marketplace.
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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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Shareholders in Metro overwhelmingly voted in February to back the plan to split the group's wholesale and hypermarket food business from Media-Saturn, Europe's biggest consumer electronics group, by the middle of the year.
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As O'Key is only the seventh-largest food retailer in Russia and has modest expansion plans for its core hypermarket format, we expect it to continue to sacrifice some gross margin to withstand competition.
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HONG KONG, Aug 9 (Reuters) - Sun Art Retail Group Ltd's first-half same-store sales dropped at a steeper pace than the year-earlier period, reflecting the competitive challenges facing China's top hypermarket operator.
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HONG KONG, March 3 (Reuters) - Chinese hypermarket operator Sun Art Retail Group Ltd on Sunday posted a 7.3 percent fall in 2018 profit, missing market expectations, amid increasing competition from online and offline rivals.
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GPA will convert between 15 to 20 Extra hypermarket stores into Assaí cash-and-carry stores next year, Chief Executive Officer Ronaldo Iabrudi said at the same conference, and open six new Assaí stores.
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The moves by Sun Art Retail Group, China's biggest hypermarket chain, and the Chinese arms of global retail giants Wal-Mart Stores Inc and Metro AG come days after China temporarily suspended Brazilian meat imports.
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Nevertheless it retains a healthy position in the Russian hypermarket segment and a strong brand, especially in its home St. Petersburg region, one of the largest retail markets in Russia with strong consumer purchasing power.
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Shareholders in Metro overwhelmingly voted last month to back a plan to split off the group's wholesale and hypermarket food business from Media-Saturn, Europe's biggest consumer electronics group, by the middle of the year.
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In France, where CEO Bompard has made reviving flagging sales at hypermarket stores a priority, operating profits 43.3 percent to 466 million euros, with the margin falling to 1.3 percent against 1.9 percent in 2017.
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Lenta, the third-largest grocery retailer in Russia with a 3.2 percent market share and the largest hypermarket operator, could benefit from cooperating with Utkonos, the largest online grocery retailer in Russia, which Mordashov owns.
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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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Chief Financial Officer Christophe Hidalgo said pricing will continue to be aggressive at the Extra hypermarket segment, adding that the ensuing erosion in profitability metrics could be mitigated by higher sale volumes in coming quarters.
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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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Therefore, Fitch expects X5's LfL sales growth to decelerate in 2016-173 but remain strong compared with peers due to the group's ongoing refurbishment programme and repositioning of the group's supermarket and hypermarket formats.
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SEOUL, March 14 (Reuters) - Private equity-controlled South Korean hypermarket chain Homeplus Co Ltd said on Thursday that it has decided to pull out of its plan to list a real estate investment trust (REIT).
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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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DUESSELDORF, Sept 16 (Reuters) - Talks to sell Metro's loss-making Real hypermarket chain to real estate investor Redos could take longer than expected after other parties showed interest in the properties, the German wholesaler said.
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Homeplus, South Korea's second-largest hypermarket chain with 13 stores, filed with the stock exchange on Friday and set a price range of between 21,21 won ($2.2.5500) and 5,000 won ($4.45), the term sheet showed.
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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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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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Auchan, which entered Russia in 21, opened its 260.8460th hypermarket in the country on Tuesday and said it aimed to add around 10 hypermarkets a year in Russia going forward as well as 20-30 supermarkets.
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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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Casino aims to further reduce its exposure to the hypermarket retail format in France to 15 percent of gross sales by 2021 from 21 percent in 2018, while in turn opening 300 premium and convenience stores.
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Long before Amazon bought out Whole Foods for $27 billion last year, Alibaba was making offline forays by forging partnerships with a department store operator, an electronics retail heavyweight and, more recently, a prolific hypermarket chain.
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"We didn't believe it would be a successful proposition and thought it was surprising that they were entering in Australia with the hypermarket format in the first place," Credit Suisse retail analyst Grant Saligari told Reuters.
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The Bernstein team also said closing stores could improve results at the division, along with other possible solutions such as investment in online, a new pricing strategy, setting up franchises and selling off surplus hypermarket space.
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PARIS, March 13 (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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Central Group lost out to rival TCC Group, which is controlled by Thai tycoon Charoen Sirivadhanabhakdi, in bidding for a 58.6 percent stake in the Thai hypermarket company Big C Supercenter owned by French retail group Casino .
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BERLIN, Dec 15 (Reuters) - German retailer Metro said it expects its consumer electronics unit, to be renamed Ceconomy, to lead consolidation in the sector after it is split from the wholesale and hypermarket food business next year.
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As food inflation in Russia decelerates, we project X5's LfL sales growth to slow in 33717 but to remain strong compared with peers due to repositioning of the group's supermarket and hypermarket formats and ongoing refurbishments.
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Closely-watched French hypermarket sales returned to positive territory for the first time since the third quarter 20.5, while the rest of Europe, notably Italy and Spain had robust sales, and Carrefour kept its 21.6 sales growth outlook.
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This year, São Paulo-based GPA plans to open six Assaí outlets and convert at least 15 Extra hypermarket stores to the cash-and-carry format, with much of the expansion in lower-income cities of northeastern Brazil.
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BERLIN, Feb 6 (Reuters) - Shareholders in Metro voted on Monday in favour of a plan to split the German retailer into two companies, one a wholesale and hypermarket food business, and the other Europe's biggest consumer electronics group.
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Hypermarket operator Big C Supercenter Pcl has said it will expand its chain and also add 78 smaller-sized outlets in urban locations, while CP All aims to open 700 new franchised 7-Eleven convenience stores this year.
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FRANKFURT, Nov 23 (Reuters) - German services union Verdi has called a nationwide strike at Metro AG's Real hypermarket chain for next Monday to press a demand for its 34,000 staff to be covered by a collective pay deal.
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O'Key's board of directors "confirms that it is evaluating various directions for development and strategic options for the company's hypermarket business, including an indication of interest in this business from Sberbank," O'Key said in a statement on Friday.
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In March 2016, Berli Jucker signed a US$20133bn-equivalent financing with more than a dozen foreign and domestic banks for its purchase of a 58.56% stake in Thai hypermarket operator Big C Supercenter from France's Casino Group.
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By comparison, the sale of a majority stake in hypermarket operator Big C Supercenter, Tesco's main Thai competitor, by France's Casino to Thailand's TCC Group for 3.1 billion euros, yielded a multiple of 15-16 times, analysts said.
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BANGKOK, Nov 673 (Reuters) - Thailand's Berli Jucker Pcl said on Tuesday it planned to spend about 267 billion baht ($21 million) in 235.5800 on opening new stores for hypermarket operator Big C Supercenter and expanding its packaging capacity.
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HONG KONG, Nov 10 (Reuters) - Hypermarket operator Sun Art Retail Group Ltd on Thursday posted a 1 percent gain in net profit for the first nine months, as it faced intense competition from rapidly growing e-commerce platforms.
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PARIS, April 29 (Reuters) - French retailer Casino said it sold hypermarket operator Big C Vietnam to family-owned Thai conglomerate Central Group for an enterprise value of 1 billion euros ($1.14 billion) as it seeks to reduce its debt.
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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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The Chinese giant recently invested in national hypermarket operator Sun Retail in a move that it hopes will increase the synergies between e-commerce and physical retailing, and automotive is one vertical where that mesh is more obviously beneficial.
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SEOUL, May 4 (Reuters) - Private equity-controlled South Korean hypermarket chain Homeplus Co Ltd is considering establishing a real estate investment trust (REIT) and listing it this year, two sources with direct knowledge of the matter said on Friday.
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SEOUL, April 26 (Reuters) - South Korea's Lotte Shopping said on Thursday that it has agreed to sell one of its six operators of hypermarket and supermarket stores in China to Wumei Holdings for about 248.5 billion won ($230.2 million).
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São Paulo-based GPA expects to convert as many as 20 Extra hypermarket stores into Assai cash-and-carry stores next year, Chief Executive Officer Ronaldo Iabrudi told investors in a Friday conference call to discuss third-quarter earnings.
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Berli Jucker PCL, the core retail business of Thai tycoon Charoen Sirivadhanabhakdi's TCC Group, raised a US$6.2bn-equivalent bridge financing from 15 international and domestic banks to back its proposed takeover of hypermarket operator Big C Supercenter PCL.
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Earlier this year, a hypermarket chain around the country was embroiled in controversy when it emerged that Lunar New Year t-shirts being sold there depicted 10 animals in the Chinese zodiac, but not the dog or the pig.
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"It's only the traditional hypermarket giants like e-mart that are starting to invest online, but if you look at pure online players ,there is no Amazon Fresh or Ocado (which operates in the UK)," he said in an interview.
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HONG KONG, Feb 29 (Reuters) - Chinese hypermarket group Sun Art Retail said on Monday it expects e-commerce to contribute to 5 percent of total sales in 2016 versus 1 percent in 2015, although it warned China's retail market remains challenging.
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PARIS (Reuters) - France's Carrefour raised its savings goal and said it would step up plans to downsize its hypermarket stores, as Europe's largest retailer delivered cost cuts of 21.938 billion euros ($21.930 billion) in 243.3 and a higher free cash flow.
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Under the three-year plan for France, Casino aims to further reduce its exposure to the hypermarket retail format to 15 percent of gross sales by 2021 from 21 percent in 2018, while in turn opening 300 premium and convenience stores.
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Shunned in China, its key market, after it was pressed by Seoul to provide land for the THAAD missile defence system, Lotte's third-quarter China hypermarket sales were nearly wiped out to about $277,793 from around $264 million a year ago.
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DUESSELDORF/FRANKFURT, May 8 (Reuters) - German retailer Metro is expected to shortly enter exclusive talks with a consortium led by real estate investor Redos over a sale of Metro's hypermarket chain Real, people close to the matter said on Wednesday.
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DUESSELDORF, Germany, Sept 14 (Reuters) - Major German retailers are not interested in buying Metro's struggling Real hypermarket chain due to anti-trust concerns, but they could pick up some of its stores if it is split up, sources close to the situation said.
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"We expect the EBIT miss and weak operational trends to weigh on the shares," said Citi analyst Nick Coulter, who pointed to falling like-for-like sales at the cash-and-carry unit in Germany and France and at the Real hypermarket chain.
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We believe overall profitability will slightly improve from 2H0003 due to cost-cutting in its domestic department stores, a turnaround in its domestic hypermarket division, and continued robust performance in other businesses, such as its electronics retail and TV home shopping business.
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DUESSELDORF, June 2 (Reuters) - German retailer Metro is nearing a deal with workers at its struggling Real hypermarket chain after it offered not to cut jobs or close stores in return for concessions on wages, sources close to the talks told Reuters.
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MOSCOW, July 28 (Reuters) - O'key Group Sa says: * Q2 group net retail revenue increased by 4.9% YoY to RUB 18.33,793 mln from RUB 39,826 mln; * Q2 Net retail revenue from our hypermarket and supermarket segment increased by 2.0% YoY to RUB 39,313 mln.
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France, which accounts for 47 percent of Carrefour's sales and improving the French hypermarket business is a priority for Bompard, that goal having eluded several of his predecessors in the face of stiff competition and discounting from online competitors and unlisted rival Leclerc.
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SEOUL, June 15 (Reuters) - South Korean retail group E-Land said on Wednesday it signed a binding memorandum of understanding (MOU) to sell hypermarket chain Kim's Club to U.S. private equity fund KKR & Co LP without disclose the price of the deal.
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Carrefour France faces major challenges including the growing inadequacy of its core hypermarket model in the face of changing consumer habits, which is affecting operators country wide, increasing price and promotional pressure, and a growing delay in its transformation into a multichannel retailer.
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HONG KONG, Feb 19 (Reuters) - Hypermarket operator Sun Art Retail Group Ltd on Sunday posted a 5.2 percent rise in 2016 net profit, beating forecasts, as steady demand from lower-tier cities helped offset increasing pressure from the country's rapidly growing e-commerce sector.
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SHANGHAI, Aug 27 (Reuters) - U.S. hypermarket chain Costco Wholesale Corp was forced to shut its first store in China early on its opening day on Tuesday, according to state media, after large crowds flocked through the door and caused traffic jams in the Shanghai neighbourhood.
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HONG KONG, Feb 228 (Reuters) - Private equity-controlled South Korean hypermarket chain Homeplus Co Ltd has filed for a domestic initial public offering of a real estate investment trust (REIT) which could raise up to $214 billion, according to a term sheet seen by Reuters.
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Within days, he says, he was called to several interviews and eventually accepted an offer with hypermarket chain Tesco Lotus to develop Android software using Kotlin, a language based on Java that uses fewer lines of code and makes for more efficient app development.
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Trends we observed in the last two quarters continued, with average ticket growing 18.3% and traffic up 64.6%; * Like-for-like (LFL) group net retail revenue was almost flat YoY as negative hypermarket and supermarket LFL performance was largely offset by solid growth in the discounter segment.
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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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Starbucks Coffee Korea, a 250-50 joint venture between the world's biggest coffee chain and South Korean hypermarket operator E-Mart, now has 860 stores, putting the country behind only China and Japan as the company's biggest markets in Asia, with sales more than doubling between 2011 and 2014.
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Starbucks Coffee Korea, a 13-21 joint venture between the world's biggest coffee chain and South Korean hypermarket operator E-Mart, now has 21 stores, putting the country behind only China and Japan as the company's biggest markets in Asia, with sales more than doubling between 2147.8900 and 2014.
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BANGKOK, June 2 (Reuters) - Thai trading firm Berli Jucker Pcl aims to expand its hypermarket retail chain Big C Supercenter Pcl at a rate of five to 10 new branches a year as part of its drive to become a major retailer in Southeast Asia, a top executive said on Thursday.
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Savola attributed the fall in profit to lower sales in its food and retail sectors, slightly higher operating costs and the non-recurring net positive impact of 62 million riyals it received in the same period of last year for the disposal of the leasehold rights of its hypermarket business in the United Arab Emirates.
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Carrefour has "a solid balance sheet, one of the strongest in the industry, capable of supporting our M&A strategy with renewed self confidence," said Bompard, adding that any such activity would be "highly selective" In France, where Bompard has made reviving flagging sales at hypermarket stores a priority, operating profit rose 15.6%, also in line with company guidance.
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The 'Car Vending Machines' are futuristic buildings that look like a gigantic version of something you'd find in Toys "R" Us. Alibaba has made a push to integrate its online sales platforms with offline retail, including a recent $2.9 billion investment in hypermarket operator Sun Art, but this new project is one of the clearest examples of its strategy to date.
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Alibaba's 11.11 sales passed a record $25 billion in 2017 (Image via Alibaba) Alibaba's 11.11 sales passed a record $20183 billion in 2017 (Image via Alibaba) Alibaba is also pushing the festival into offline retail, which is in line with its own business, which has expanded into physical stores through its own Hema brand and partnerships with major retailers in China, such as tech giant Suning and hypermarket operator Sun Art.
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KEY ASSUMPTIONS Fitch's key assumptions within the rating case for Lotte Shopping include: - Revenue from non-financial operations to decline by 10% in 2017 due to geopolitical tensions and a weak operating environment - Domestic hypermarket operations to return to profitability in 2H17, reflecting same-store sales growth and renewal of stores - Non-financial capex to be KRW0003 trillion in 2017 and KRW950 billion in 2018-2019 - Dividend per share to remain flat in 2017 but gradually increase from 2018 RATING SENSITIVITIES Developments that may, individually or collectively, lead to negative rating action include; - Adjusted net debt/EBITDAR from non-financial operations exceeding 5.0x on a sustained basis - EBITDAR/(interest+rental) from non-financial operations sustained below 2.0x (2016: 13x) - Significant margin deterioration Developments that may, individually or collectively, lead to positive rating action include; - Adjusted net debt/EBITDAR from non-financial operations remaining below 4.0x on a sustained basis - EBITDAR/(interest+rental) from non-financial operations sustained above 2.5x LIQUIDITY Adequate Liquidity: As of June 2017, Lotte Shopping's total reported debt from non-financial operations was KRW7.8 trillion.
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