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Food and Staples Retailing Hypermarkets and Super Centers

  • PARIS, July 18- Carrefour, the world's second-largest retailer, said on Tuesday that its board had appointed Alexandre Bompard as its new chairman and chief executive with immediate effect. Bompard, 44, who was until now chief executive of consumer electronics retailer Fnac Darty, succeeds Georges Plassat, who had been at the helm of Carrefour since 2012..

  • PARIS, July 18- Carrefour, the world's second-largest retailer, said on Tuesday that its board had appointed Alexandre Bompard as its new chairman and chief executive with immediate effect. Bompard, 44, who was until now chief executive of consumer electronics retailer Fnac Darty, succeeds Georges Plassat, who had been at the helm of Carrefour since 2012..

  • The group, whose credit rating was cut to junk by Standard& Poor's in March 2016, is under pressure to show it can revive profits in France while conditions in Brazil, its second biggest market, have been tough after a deep recession. That was above analysts' average forecast of 9.173 billion euros in a company-compiled consensus and helped by further signs of...

  • *Food business set to be more exposed to Russia. FRANKFURT, July 13- German retailer Metro completed its split into two companies on Thursday as its food business and consumer electronics division started trading independently on the Frankfurt and Luxembourg stock exchanges. Shares in the Metro food business traded at 19.47 euros by 0735 GMT, while those of the...

  • FRANKFURT, July 13- German retailer Metro completed its split into two companies on Thursday as its food business and consumer electronics division started trading independently on the Frankfurt and Luxembourg stock exchanges. Shares in the Metro food business traded at 19.70 euros by 0709 GMT, while those of the consumer electronics business, to be renamed...

  • 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 while conditions in Brazil stay tough. Casino, which controls Brazil's top retailer Grupo Pao de Acucar, said second-quarter group sales reached 9.277 billion euros,...

  • PARIS, July 13- French supermarket retailer Casino said sales growth accelerated slightly in the second quarter, reflecting an improvement at its Geant hypermarkets in France, and reported a resilient performance 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 criticised...

  • *Ceconomy CEO says wants to drive consolidation. DUESSELDORF, July 12- A German court gave retailer Metro the green light on Wednesday to split its food business from its consumer electronics division, a move it hopes will allow the independent companies to pursue more acquisitions. "Ceconomy will drive the transformation and consolidation of consumer...

  • MUMBAI, July 1- Some of India's biggest automakers and retailers announced price cuts on Saturday as Asia's third-largest economy switched to a new nationwide sales tax at the stroke of midnight, replacing a host of provincial and national levies. The Goods and Services Tax, India's biggest tax reform in the 70 years since independence from British colonial...

  • *Bompard to take over as Chairman and CEO July 18. PARIS, June 15- Carrefour boss Georges Plassat ended his five-year tenure on an optimistic note on Thursday, telling shareholders his turnaround strategy had put the world's second-largest retailer on a growth path and that his successor would do well. "Alexandre Bompard will take the reins on July 18.

  • PARIS, June 9- 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. He faces the key challenge of reviving the group's ailing hypermarket stores in France. Europe's largest retailer has been searching since October for a successor to...

  • PARIS, June 7- 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: the hypermarket. "Alexandre Bompard made thousands of calls himself. The 68- year-old, credited with saving Carrefour from a...

  • 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.