Blog: Carrefour's transformation continues...
Michelle Russell | 25 August 2010
The launch of Carrefour’s new concept stores yesterday (24 August) is a fresh sign that the French retail giant is attempting to revive flagging European sales.
The ‘planet’ test stores, located in Ecully and Venissieux, which opened to customers today, have been redesigned and adapted more to customers’ needs, the retailer said, offering everything from cookery demonstrations to hairdressing.
As just-food editor Dean Best pointed out last month, for Carrefour watchers, these are uncertain times.
In the retailer’s second quarter results in July, like-for-like sales, excluding fuel, were down 1.1%.
The retailer claimed some progress in France, pointing to a 1.8% increase in like-for-like sales, excluding fuel, from its Carrefour Market banner.
However, elsewhere in Europe, Carrefour still faces challenges. Its second-quarter like-for-like sales in Spain were down 5.5%, excluding fuel, and in Belgium, like-for-like sales fell 8.6%.
Nonetheless, it is clear Carrefour still has an eye on expansion outside of Europe with the announcement of an acquisition of a majority stake in Chinese hypermarket operator Baolongcang last month.
And today, reports continue to suggest the firm is looking to dispose of its business in Malaysia in a bid to consolidate its business and concentrate on the booming Indian market.
So for now, Carrefour watchers will have to sit tight while the retailer continues with its much-heralded transformation programme.
BLOG
Another buying partnership on cards in France
Yet more news of a potential purchasing alliance between France's largest grocers....
BLOG
Food part of Nestle's investment in consumer healthcare in China
Nestle has announced the opening of two consumer healthcare in China and one of which will be supplying foods "for special medical purposes"....
BLOG
What does Gen Z want from brands? IRI presents its view
Industry watchers IRI has published the findings of two studies in the US they claim can give an insight into the shopping patterns of those aged 21 and under - Gen Z....
BLOG
The identity of the buyer of Tyson's Kettle business emerges
In February, we reported Tyson Foods had sold its Kettle business, one of a series of non-protein disposals at the US meat giant. But the company would not disclose the buyer. This week, the new owner...
Most Popular
Insights
- New activist investor may put Pinnacle in play
- Nestle Q1 commentary - top takeaways
- Has organic become mainstream in the US?
- Interview: Vegan supplier Food For Progress
- Why should food makers consider becoming B Corp?
News
- NPD Tracker - Kraft Heinz, Nestle, Mondelez
- South Africa's listeria death toll reaches 193
- Kraft Heinz incubator backs Momofuku sauces plan
- EU and Mexico tie up wide-ranging trade deal
- Troubles mount at BRF as CEO resigns
Market research