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Food and Staples Retailing Hypermarkets and Super Centers

  • PARIS, Sept 22- Carrefour's new boss on Friday named his leadership team, putting the man credited with reviving the retailer's Spanish operations in charge of turning around its business in France, its biggest market. In France, which accounts for nearly half of Carrefour's sales and 44 percent of operating profit, the group faces fierce price competition from...

  • PARIS, Sept 18- The new boss of Carrefour could close some of the retailer's large hypermarket stores in France as part of plans to turn around the company, a union official said. Alexandre Bompard, who took over in July, said last month that he would provide details on his strategy by the end of the year after Carrefour- the world's second biggest retailer behind...

  • PARIS, Aug 31- Shares in Carrefour slumped to a five-year low after the world's second-largest retailer issued a profit warning, highlighting the scale of the challenges its new boss faces in the cut-throat French retail market. Analysts said they expected Alexandre Bompard, who joined in July, to take tough decisions to turn around a weak business in France,...

  • *Germany, France, Turkey strong; Netherlands, Russia weak. BERLIN, Aug 31- German retailer Metro reported a recovery in quarterly sales on Thursday, helped by fast-growing online and delivery services, but saw a decline in its Russia business that is a major driver of profits. Metro highlighted sales growth in its core market Germany, as well as France and Turkey, but...

  • PARIS, Aug 30- New Carrefour CEO Alexandre Bompard on Wednesday pledged to boost profitability and cash flow after the world's second-largest retailer warned 2017 operating profit could fall by around 12 percent and cut its sales growth target. Elsewhere in Europe, profits also declined as the integration of recently-acquired Eroski stores in Spain and...

  • *Competition intensifying for share of China's grocery market. HONG KONG, Aug 10- Sun Art Retail Group Ltd, China's No.2 hypermarket operator, on Thursday said it was betting on a new online delivery strategy to take on e-commerce players as competition hots up in the country's $700- billion grocery market. The retailer, which posted a higher net profit for the...

  • 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...