Carrefour has refused to confirm reports that it is planning to launch a value own-label line.

According to a report in La Tribune, the French retail giant us preparing to launch a "Carrefour Value" line of low-priced products.

The new brand is reportedly Carrefour's response to growing competition from discount supermarkets.

A spokesperson for the group told just-food that Carrefour was unable to comment on the report.

The retailer is due to deliver its annual results tomorrow, when it is expected that CEO Lars Olofsson will address some of the specific problems that prompted Carrefour to issue two recent profit warnings.