Carrefour news and archive

Amnesty says migrant workers exploited at Carrefour Saudi stores

Rights group Amnesty International published Monday a report that accused the Saudi Arabian franchise of French supermarket giant Carrefour of exploiting migrant workers. Carrefour told AFP that an internal probe had not confirmed most allegations but was planning on conducting an external review. Amnesty said it found migrant workers for...

Business

Tesco and Carrefour announce long-term strategic alliance

Tesco Group Plc and Carrefour have jointly announced that both plan to enter into a long-term, strategic alliance covering the strategic relationship with global suppliers, the joint purchasing of own brand products and goods not for resale. The companies said in a joint-statement that it will be governed by a three-year operational framework....

Fashion

Boiler explosion in Bangladesh textile factory leaves 10 dead and up to 50 injured

Ten people have died as a result of a boiler explosion in a textile factory in Bangladesh. The factory, which is owned by textile manufacturers Multifabs supplies knitted apparel to clients in Europe, including Littlewood, based in the UK. Factory director, Mesba Faruqui told AFP that the site was closed on Monday with the majority of employees...

People

Carrefour names new chief executive

Carrefour has confirmed today that Alexandre Bompard, former chief executive of consumer electronics retailer Fnac Darty, has been named their new chief executive after an eight-month search. The news first broke on Reuters. Carrefour's investors want their new chief executive to succeed where their predecessors have failed at boosting the...

Business

Carrefour reports 3.3 percent rise in revenues

Carrefour reported increase in net sales of excluding petrol of 70,204million euros (74,373 million dollars), up 3.3 percent at constant exchange rates and 3 percent on an organic basis. The company saw good performance in food in all countries; buoyant sales growth in Brazil and positive momentum in Europe. Georges Plassat, Chairman and Chief...

Business

Carrefour H1 sales rise 2.9 percent

Sales including VAT stood at 40,552 million euros (45,016 million dollars) at Carrefour in the first half. The company said, currencies had an adverse effect on the performance. However, the company reported sales growth of 2.9 percent on an organic basis. Emerging markets posted double-digit growth, while sales in Europe were stable, impacted...

Business|REPORT

Carrefour Q1 sales rise 2.5 percent

The Carrefour Group posted sales of 20,053 million euros (22,624 million dollars) in the first quarter. In the quarter, the company said, currencies and petrol prices had unfavourable impacts of 6.9 percent and 1.2 percent respectively and the calendar effect was 0.6 percent. Total sales under banners including petrol stood at 24.6 billion euros...

Business|REPORT

Carrefour FY15 sales rise 4.5 percent

Total sales under banners including petrol in full-year 2015 at Carrefour reached 104.4 billion euros (113.7 billion dollars) at constant exchange rates, up 4.5 percent at constant exchange rates. They stood at 26.9 billion euros (29.2 billion dollars) at constant exchange rates in the fourth quarter, up 2.7 percent. In 2015, France posted...

Business|REPORT

Carrefour reports 4.2 rise in total Q2 sales

During the first half of 2015, sales at Carrefour were 42.3 billion euros (46 billion dollars), up 5 percent in total and up 2.9 percent on an organic basis. In the second quarter sales stood at 21.4 billion euros (23.3 billion dollars), up 4.2 percent in total and up 2.6 percent on an organic basis on an already strong comparable base in 2014....

Design

Carrefour to acquire 127 shopping centers

French supermarket chain Carrefour has acquired a portfolio of 127 shopping malls from real estate company Klepierre for 2 billion euors, or 1.68 billion pounds, in hopes of breathing new life into its declining European hypermarkets. The Klepierre shopping centers, located in France, Italy and Spain, will be combined with the existing 45...

Design

Tesco’s India plans on hold

Tesco, the world’s third largest retailer, has decided to adopt a wait and watch policy to enter the Indian market. As of now, it has decided to focus its exisiting franchise arrangement with Tata’s Trent. According to the arrangement, Tesco provides back-end support to Star Bazaar hypermarkets run by Trent, in terms of inventory and supply...

Fashion

Finally, India gives approval to FDI in multi-brand retail

Keeping all resistance from opposition and political parties at bay, the Union cabinet of India has finally approved 51 per cent foreign direct investment (FDI) in multi-brand retail and allowed 100 per cent in single brand retail. This means, Indian consumers can now shop from mega-discount chains run by a global retailer like Tesco, Wal-Mart...