Tesco wrote down the value of its global operations by $3.5 billion and announced plans to exit the U.S., after a year in which profit fell for the first time in two decades.
Carrefour, Europe's biggest retailer, said fourth-quarter like-for-like sales rose 0.4 percent, reflecting further signs of improvement in its core French market but still difficult trading conditions in austerity-hit Spain and Italy.
Francois Mallet, MD, Head of Equity, Kepler Capital Markets recommends France's Carrefour, which he says will benefit from a new strategy and a new CEO.
French retail giant Carrefour is a 'buy' according to Scott Evans, co-head of equity research at Espirito Santo Investment Bank. He joined CNBC to discuss why.