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UPDATE 1-France's Carrefour cuts 2017 dividend after posting net loss

* 2017 operating profit down 14.7 pct to 2.006 bln euros

* 2017 net loss 531 mln euros after 1.3 billion charge

* Cuts 2017 dividend by 34 pct (Adds details from statement)

PARIS, Feb 28 (Reuters) - Carrefour, the world's second-largest retailer, slashed its 2017 dividend on Wednesday after reporting a fall in operating profits for the second straight year, blaming a poor performance in its core French market.

Europe's biggest retailer announced a net loss of 531 million euros ($648 million) following non-recurring charges of 1.3 billion euros. It cut its 2017 dividend by 34 percent.

Carrefour last month unveiled a new strategy designed to boost profits and revenues in the face of the growing threat from the likes of Amazon, promising to invest 2.8 billion euros in digital commerce by 2022 while it also seeks a partnership in China.

"The 2017 results that we are presenting today demonstrate the necessity of implementing without delay Carrefour's transformation plan," CEO Alexandre Bompard said in a statement.

Carrefour's 2017 recurring operating profit fell 14.7 percent to 2.006 billion euros.

This was broadly in line with a median forecast of 1.99 billion euros in an Inquiry Financial poll of analysts for Reuters, and the company's guidance for about 2 billion euros.

Bompard, who took over as CEO in July, wants to overhaul Carrefour's French hypermarket business and expand the company's online retail. Amazon's purchase of Whole Foods in the United States last year has prompted speculation that the tech company could be targeting food retail in Europe next.

Under pressure to increase profits, Bompard announced in January planned cost savings of 2 billion euros by 2020, including a voluntary redundancy plan for 2,400 employees at head office and the sale or closure of 273 underperforming stores Carrefour bought from Spanish retailer Dia in 2014.

The group, which for years has struggled to reduce its reliance on hypermarkets in France, will reduce scale at its French megastores and revamp its food ranges as customers demand healthier products.

The group's operating profit fall came as like-for-like sales growth slowed to 1.6 percent in 2017 from 3 percent in 2016.

That reflected strong competition in France, where rival Leclerc has overtaken Carrefour as the largest food retailer by market share, and an increase in distribution costs in Carrefour's main markets.

It also reflected higher depreciation after a period of heavy investment and a more difficult environment in Argentina.

Carrefour said its operating margin in France, where it makes 47 percent of its sales, fell 94 basis points to 1.9 percent of sales, contributing to push the group's margin to 2.5 percent from 3.1 percent in 2016.

Carrefour shares have gained 4.6 percent so far this year, outperforming their European sector after losing 21 percent last year.

($1 = 0.8190 euros) (Reporting by Dominique Vidalon; Editing By Richard Lough)