Carrefour has witnessed a decline in its fortunes. The French retailer's reputation has taken a battering and it has failed to deliver a consistent message to consumers and investors alike. In his first analyst presentation since becoming CEO six months ago, Lars Olofsson this week laid out his turnaround plans. Katy Humphries suggests that while Olofsson has begun to tackle some of the retailer's more pressing challenges, the road to recovery remains a long one.