FRANCE: Dia "mulls potential sale of French stores"
Dia saw sales in France tumble over 11% in 2013
Spain-based discounter Dia has reportedly hired bankers to look at the potential sale of its operations in France.
Dia is mulling its options over its 865 stores in France, Bloomberg has reported, citing anonymous sources.
The retailer, created when it was spun out of Carrefour, could sell its business in France this year, the report said.
France is Dia's second-largest market by store count. However, in 2013, the retailer closed 23 outlets in the country. Net sales there dropped 11.3% to EUR1.9bn (US$2.62bn). Dia's group net sales increased 6% last year.
When Dia reported its results for 2013 in February, Inigo Egusquiza, a retail analyst at Kepler Cheuvreux, said margins from the retailer's French unit had worsened in the latter part of the year - and speculated what the company could do with the business. A sale, Egusquiza argued, would not be simple.
"EBITDA margin dilution has accelerated - close to 200 basis points in Q4 - and an urgent solution is needed. Dia is mulling over various alternatives, from the full (seems tough) to a partial sale of Dia France, but this would not be easy in our view," Equsguiza wrote.
Dia did not respond a request for comment when contacted by just-food yesterday (1 April).
Carrefour SA Carrefour Sabançi Ticaret Merkezi aims to increase its share in Turkey by offering high-quality products at reasonable prices. To this end, the company aims to increase its presence throu...
This is a detailed report covering Carrefour’s store formats, private labels, history, key employees, and key financial and operational metrics in Spain. Introduction and Landscape Why was the repo...
Synopsis Canadean's "Carrefour S.A. : Retailing - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a company ...
In 2011 Dia Portugal Supermercados was sold by Carrefour to Distribuidora Internacional de Alimentación, a Spanish company. However, in Portugal the company continued to operate exclusively under its ...
This is a detailed report covering Carrefour’s store formats, private labels, history, key employees, and key financial and operational metrics in Turkey....
- Unilever must "speed" response to consumer trends
- What the analysts say: Unilever's mixed 2014
- Premier Foods CEO expects UK supermarket rebound
- Briefing: The risks and rewards of e-tail in China
- Why US diet guidelines should consider environment
- Unilever revenues disappoint as food sales fall
- Findus: "No sale process underway" in UK
- Lifeway Foods CEO denies sale talks
- Hovis CFO Michael Kennedy exits
- Weston Foods acquires Creative Occasions
- 10 Key Trends in Food, Health and Nutrition 2015
- The Sugar Backlash and its Effects on Global Consumer Markets
- The Future of Retailing in the UK to 2017
- Global Consumer Trend Framework: Understanding Attitudes and Behaviors that Influence Global Consumption Habits
- Meat Substitutes Market - Global Trends, Forecasts up to 2019