×

Food and Staples Retailing Hypermarkets and Super Centers

  • PARIS, April 18- Retailer Casino kept its full-year profit growth goals on Tuesday, although first-quarter sales growth slowed down due to signs of weakness at the Geant Casino hypermarkets in France, while lower inflation impacted its Brazilian business. Casino, whose credit rating was cut to junk by Standard& Poor's in March 2016 and which has been criticized...

  • PARIS, April 18- Retailer Casino posted slower first-quarter sales growth on Tuesday that reflected weakening sales at its Geant Casino hypermarkets in France, and sluggishness at its recession-hit Brazilian market. Casino, whose credit rating was cut to junk by Standard& Poor's in March 2016 and which has been criticized by U.S. activist fund Muddy Waters, is...

  • *Workers, suppliers relying on carmaker Hyundai feel pinch. BEIJING/ SHANGHAI, April 11- South Korean companies in China have been clobbered by Beijing's angry response to Seoul's decision to deploy a U.S. anti-missile system, but the boycotts and regulatory pressure on firms like Hyundai and Lotte are rebounding on their Chinese workers and suppliers.

  • Bennett said it plans to open five stores in Russia, shrugging off the political and economic challenges of working in a country that's been under Western sanctions for almost three years. It opened its first shop in a Moscow mall in August, teaming up with Russian fashion firm Easy Fashion Group. L.K. Bennett, a high street brand favoured by Britain's Duchess of...

  • *Shares fall, among worst stocks on Paris market. PARIS, March 9- Carrefour disappointed investors with its first drop in annual operating profits since 2012 on Thursday, although the boss of the world's second-largest retailer said he was "optimistic" about the future and his turnaround strategy. Georges Plassat, whose term as chairman and chief executive ends...

  • PARIS, March 9- Carrefour, the world's second-largest retailer, reported weaker than expected earnings for 2016 as profits fell in its home French market where competition among hypermarket operators is intense. Carrefour's recurring operating profit fell 3.8 percent to 2.35 billion euros, just below an average of 2.37 billion euros in a Reuters poll.

  • *Operating margin in France down 40 bp to 2.9 pct of sales. Since taking over as CEO in 2012, Plassat has presided over signs of a recovery at Carrefour, which makes 73 percent of its sales in Europe and around a quarter of sales in France. He has focused on price cuts along with an expansion into smaller convenience stores, while also renovating its chain of...

  • Europe's biggest retailer kept its 2016 dividend unchanged at 0.70 euros per share after recurring operating profit fell 3.8 percent to 2.351 billion euros in 2016, below an average of 2.37 billion euros in a Reuters poll. Elsewhere in Europe, however operating profits rose, driven by a continued recovery in Spain and improved profitability in Italy.

  • PARIS, March 7- Shares in French retailer Casino fell on Tuesday after analysts said the company's profit growth forecast for 2017 was not as robust as they had hoped. Casino, whose credit rating was cut to junk by Standard& Poor's in March 2016 and which has been criticised by U.S. activist fund Muddy Waters, is under pressure to show it can revive profits in France at...

  • For 2017, Casino predicted growth of at least 10 percent in group operating profit at current exchange rates, having achieved a 3.7 percent rise in 2016 despite a weak performance in Brazil, its second-largest market after France. Casino, whose credit rating was cut to junk by Standard& Poor's in March 2016 and has been criticised by U.S. activist fund Muddy...

  • SAO PAULO, Feb 24- GPA SA posted a seventh consecutive quarterly loss on Friday as costs from a broad two-year restructuring continued to hamper results at Brazil's largest diversified retailer. Still, in a conference call to discuss results, Chief Financial Officer Christophe Hidalgo said GPA would book a 25 million-real provision to convert up to 20...

  • HONG KONG, Feb 19- 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 growing pressure from the rapidly growing e-commerce sector. The retailer, a joint venture between Taiwanese conglomerate Ruentex Group and French retailer Groupe...

  • HONG KONG, Feb 19- 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. The retailer, a joint venture between Taiwanese conglomerate Ruentex Group and French...

  • MOSCOW, Feb 16- Russian food retailer Lenta will focus on opening more supermarkets this year and fewer hypermarkets as it expects consumer demand to remain weak. It said it plans to open about 50 supermarkets, up from 17 last year, expanding into new regions starting with Novosibirsk in Siberia. "We see an opportunity for supermarkets to gain a substantially...

  • PARIS, Jan 19- Carrefour, the world's. In Brazil, the group's second-largest market after France, business was resilient despite a slowing economy, while sales elsewhere in Europe, notably Spain, posted solid growth. Carrefour finance chief Pierre-Jean Sivignon said 2016 recurring operating income would be "very close" to median expectations of 2.39 billion...

  • PARIS, Jan 19- Carrefour, the world's. In Brazil, the group's second-largest market after France, business was resilient despite a slowing economy. Europe's largest retailer said fourth quarter sales reached 23.366 billion euros, above the median of analysts estimates of 23.22 billion in a Thomson Reuters poll.

  • PARIS, Jan 17- Retailer Casino said on Tuesday it was confident it could further increase revenue and profitability this year, thanks to cost savings and improving sales in France and Brazil. Casino also told investors it would deliver on its French profit forecast for 2016 after fourth-quarter sales reflected an improvement in France, its biggest market, on a...

  • Casino, whose credit rating was cut to junk by Standard& Poor's last March, is under pressure to revive profits in its biggest market in France, where it now makes more than 50 percent of its sales, at a time of slower growth in Brazil. Casino, which controls Brazil's Grupo Pao de Acucar, posted fourth-quarter sales of 10.929 billion euros. Casino, which reports...

  • MOSCOW, Jan 16- Children's goods retailer Detsky Mir is planning an initial public offering in Moscow, hoping to cash in on an improved appetite for investing in Russia after a recovery in oil prices and signs that the country's economy is stabilizing. President-elect Donald Trump will ease sanctions on Moscow. Detsky Mir's having the confidence to come to...

  • SAO PAULO, Jan 13- Same-store food sales at GPA SA, Brazil's largest diversified retailer, rose in the fourth quarter despite the country's harshest recession ever, a sign that the company's efforts to bolster cash-and-carry operations are bearing fruit. GPA, controlled by France's Casino Guichard Perrachon SA, is increasing focus on cash-and-carry as...