Carrefour reports rise in profits


March 8, 2015 | By RetailME Bureau

French grocer Carrefour has reported a rise in operating profits as its European business starts to bear fruit. Its full-year profits rose 6.7% to €2.39 billion in 2014, driven by its ‘back to basics’ strategy as it strives to win back customers wooed away by e-tailers and local shopping destinations, particularly in France.

In 2012 it set out its turnaround plan, which included selling stores in a number of overseas markets to concentrate on its French operation. Carrefour’s French business, accounting for around half of all group sales, saw operating income rise 6.1% to €1.27 billion.

The figures saw Carrefour increase its capital expenditure, splashing out €2.6 billion on revamping stores across Europe, including those acquired from Spanish discounter Dia. Overall, Carrefour reported sales of €74.7 billion, down 0.2% year-on-year, while net income rose 0.2% to €1.37 billion.

Carrefour witnessed mixed response in the emerging markets. Recurring operating income from Carrefour stores in Brazil and Argentina soared 23.2%, but Latin American revenues overall only rose 0.8% to €13.89 billion. On the other hand, its performance in China was disrupted by the frugal consumption environment.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



Foodlink Global Restaurants & Catering Services, the F&B services enterprise in India 

Continue Reading

December 29, 2021 | By Zubina Ahmed

‘Tis the time to be jolly! The festive season is back. Celebrate 

Continue Reading

December 19, 2021 | By RetailME Bureau

“It sounds like this, Luh Pan Koh-ti-dyan and means ‘the daily bread’, 

Continue Reading

December 6, 2021 | By Zubina Ahmed

The long weekend might be over but the Etisalat Beach Canteen 2021 

Continue Reading

December 5, 2021 | By RetailME Bureau

UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau

Amazon.ae announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau




Download Images RetailME Magazine