Blog: Dean BestWhy more challenges lie ahead for Carrefour

Dean Best | 16 January 2009

A clutch of retail companies issued their latest numbers today (16 January) and, among them, came more gloomy news from Carrefour.

The French retail giant posted its slowest quarterly sales growth for five years, undershooting its revised full-year guidance.

Carrefour had already cut its sales and profit targets twice in the last financial year. New CEO Lars Olofsson, who joined Carrefour from Nestle at the start of the year, signalled his belief that the world's second-largest retailer would bounce back.

"Carrefour can and should further improve its performance,” Olofsson said. “I am fully confident that our resources and financial strength will allow us to rise to the challenges ahead."

Industry watchers will now wait to see how Olofsson looks to turn things around at Carrefour.

It's not all doom and gloom at the company; just this week, Carrefour expanded its Turkish business with the acquisition of a local supermarket chain.

But, just as smaller counterpart Delhaize has done in recent months, Olofsson is likely to take a long, hard look at Carrefour's business in all parts of the world.

And, just as Delhaize announced today, there could be a scaling back from Carrefour in some markets.

2009 promises to be just as challenging for Carrefour as last year.


BLOG

Do you get just-food's newsletters? You need to do something

If you receive just-food's newsletters, we have a message....

BLOG

UK consumers to cut back on fruit and veg - and point to Brexit, study says

Whatever your view on Brexit, a piece of research issued today (18 July) in the UK on fruit and veg consumption will likely unite more of you than last year's divisive vote....

BLOG

Cyber attack - another wake-up call for business

A month after an international cyber attack hit entities including the UK's National Health Service and Spanish telecoms giant Telefonica, another has caused havoc around the world, affecting business...

BLOG

A bad fortnight for self-regulation

Recent events in Canada, Brussels and the UK suggest the task of defending self-regulation as the best way to prevent the commercial activities by food companies from exacerbating childhood obesity is...

just-food homepage



Forgot your password?