Latest news with #AlexandreBompard
Reuters
9 hours ago
- Business
- Reuters
Carrefour in talks to sell Italy business, reports revenue growth
LONDON, July 24 (Reuters) - Carrefour ( opens new tab, Europe's biggest food retailer, is in exclusive talks to sell its loss-making business in Italy to NewPrinces Group, it said on Thursday, as part of a strategic review kicked off earlier this year. The sale of Carrefour Italy, which operates 1,188 stores but made a 67 million euro ($78.85 million) operating loss last year, is subject to regulatory approval and consultation with unions, but could be finalised by the end of 2025, Carrefour said. Separately, Carrefour reported stronger second-quarter sales as price cuts helped to attract more inflation-weary shoppers particularly in France, its biggest market. Overall, Carrefour's second-quarter sales grew 4.4% on a like-for-like basis from a year earlier, building on 2.9% growth in the first quarter. In France, like-for-like sales returned to growth for the first time since 2023, up 2.1% compared to a year ago. "Carrefour's business saw a clear acceleration in the first half of 2025, driven by the momentum in its three core countries: France, Spain, and Brazil," Carrefour CEO Alexandre Bompard said in a statement. Carrefour's first-half sales totalled 46.559 billion euros, up from 44.863 billion euros a year earlier. ($1 = 0.8498 euros)
Fashion United
03-07-2025
- Business
- Fashion United
Princesse tam tam and Comptoir des Cotonniers placed in administration
Paris - The crisis continues in French ready-to-wear. Lingerie brand Princesse tam tam and clothing brand Comptoir des Cotonniers have entered administration. AFP learned this on Wednesday from a source close to the matter. Struggling for several years, these two brands have found it difficult to withstand "a market context that has not improved". This was summarised in late June by a source close to the matter to AFP at the time of the administration filing. Their owner, Fast Retailing France, a subsidiary of the Japanese giant Fast Retailing, whose flagship brand is Uniqlo, had to apply to the Paris Commercial Court at the end of June for administration. This was approved on Tuesday. For several years, mid-range brands have been struggling due to ultra fast fashion and second-hand fashion. These appeal to consumers with their low prices. The Singapore-based site Shein accounted for 3 percent of clothing and footwear spending in 2024 on the French market by value, according to a Médiamétrie survey. In terms of second-hand, the Lithuanian platform Vinted saw its sales in France jump by 32 percent in 2023 compared to 2022, according to the Joko application. Princesse tam tam and Comptoir des Cotonniers had taken steps to "adapt to the changing clothing market". The group stated this in June 2023 to justify a job protection plan. The project aimed to close 28 of Comptoir des Cotonniers' 67 points of sale and cut 101 of its 272 permanent positions. For Princesse tam tam, it aimed to close 27 of its 69 stores, as well as cut 84 of its 235 permanent positions. In addition, 119 positions were cut within Fast Retailing France. The group has not commented since on the implementation of this plan. Today, there remain "around 100 Princesse tam tam and Comptoir des Cotonniers stores in France and approximately 500 employees at Fast Retailing France, including the head office". This was detailed by the same source close to the matter to AFP. Covid and then inflation Other traditional fashion brands that had been placed in receivership had managed to find a buyer. They were sometimes placed back in receivership, or even immediately liquidated. Ready-to-wear businesses, emblematic of town centres and shopping areas, had already suffered from the Covid pandemic and the shutdown of economic activity. This was followed by inflation, rising energy costs, raw materials, rents and wages. Brands such as Camaïeu, Kookaï, Burton of London, Gap France, André, San Marina, Kaporal, Jennyfer, Du pareil au même, Sergent Major, Esprit, C&A, Naf Naf and IKKS have already suffered. To combat fast fashion, the European Commission proposed in May to impose a two euro fee on each "small" parcel worth less than 150 euros entering Europe (currently exempt from customs duties). The vast majority of these come from China. Carrefour CEO Alexandre Bompard wants to go further. He called on Wednesday on RTL for a "Trump-style" tax on small parcels from China, at 100 percent of their value. "I fight every day for low prices, but low prices at all costs, there is a limit", said Mr. Bompard about these parcels. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Reuters
02-07-2025
- Business
- Reuters
EU plan for 2 euro fee on low-value parcels "a joke", says Carrefour boss
PARIS, July 2 (Reuters) - A European Union proposal to charge a 2 euro ($2.36)handling fee on low-value e-commerce packages coming into the bloc is "a joke", the head of Carrefour ( opens new tab, Europe's largest food retailer, said on Wednesday. The EU unveiled plans in May to end the duty-free treatment of low-value consignments worth no more than 150 euros and impose a 2 euro fee in 2028, as the bloc faces a surge in imports of billions of goods sold by online platforms such as Shein and Temu. "This is a joke (...) Let's do a Trump tax, 100% of the value of the packages. There's a limit to low prices at all costs," Alexandre Bompard, who also heads the French Retailers Federation (FCD), told RTL radio. He also urged the EU to move much faster with its proposed fees. "If that price means the disappearance of toy manufacturers, textile manufacturers, small retailers, specialized retailers, and a crazy ecological bill, we can't pay that price, it's too high. And not in 2027, not tomorrow," he added. Retailers in Greece have also urged Brussels to bring forward the fees. ($1 = 0.8490 euros)
Yahoo
28-04-2025
- Business
- Yahoo
Carrefour Q1 FY25 performance matches outlook
French retail giant Carrefour has announced that the group's performance for the first quarter (Q1) of 2025 (FY25) aligns with the full-year outlook with like-for-like (LFL) sales growth of 2.9%. The Q1 results showed stability, mirroring the performance seen in the preceding quarter. Carrefour has maintained progress on its strategic plans despite slow-moving European markets, which remain highly competitive. Consumer patterns showed little change from the close of 2024. The proportion of own-brand products from Carrefour saw a slight increase, reaching 38% compared to 37% in Q1 2024. The gross merchandise value (GMV) for e-commerce surged 19%, with Brazil a significant contributor. In the French market, there was a 1.7% LFL decrease in quarterly sales, which included a 1.3% LFL dip in food sales and a more pronounced 6.2% LFL drop in non-food sales. Across Europe, there was a modest 0.3% LFL uptick in sales during the same period, bolstered by a 0.9% LFL rise in food sales that helped counterbalance a 2.9% LFL contraction in non-food sales. Brazil experienced a robust 5.4% LFL increase in quarterly sales along with an enhancement of the Net Promoter Score by seven points. Overall, when accounting for constant exchange rates, total sales rose 3.6% and Atacadão's quarterly sales jumped by 6.9% LFL. Carrefour has been expanding its network of convenience stores, opening an additional 72 locations in Q1. Carrefour chairman and CEO Alexandre Bompard stated: 'Carrefour's performance in the first quarter of 2025 is in line with the previous quarter and consistent with our annual outlook. In a persistently challenging economic environment, we have, as planned, launched new price investment campaigns in most of our countries and successfully rolled out our new loyalty programme, Le Club Carrefour, in France. Solid performances in France, Spain and Brazil highlight the effectiveness of our strategy focused on purchasing power and customer satisfaction. 'As a result, we maintained strong commercial momentum this quarter and reinforced our market shares in our key geographies. Driven by the commitment of our teams and franchised partners, we are pursuing the execution of our strategic plan with determination and reaffirm all our financial objectives for 2025.' The company's direct exposure to recent global tensions remains minimal given the localised nature of Carrefour's operations. Carrefour rtherefore reaffirms its objectives for 2025 and forecasts marginal increases in EBITDA, recurring operating income and net free cash flow. On 3 April, Carrefour announced the decision to enhance its bid to acquire all remaining shares of Grupo Carrefour Brasil. All minority shareholders of Grupo Carrefour Brasil have now given their approval for Carrefour to proceed with the acquisition of all outstanding shares not already under its control. Following this approval, Carrefour will continue with the subsequent phases required to complete this acquisition deal, anticipated to conclude by mid-June 2025. Bompard stated: 'It represents a significant step forward in the group's growth strategy in Brazil and a successful first step in the strategic review initiated by Carrefour last February. Full ownership will allow us to manage operations with greater agility, reinforcing our ability to drive sustainable and profitable growth in one of our most dynamic markets." In March 2025, Carrefour received authorisation from France's competition watchdog Autorité de la Concurrence to proceed with its acquisition of Louis Delhaize's French operations. "Carrefour Q1 FY25 performance matches outlook" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Reuters
10-03-2025
- Business
- Reuters
Carrefour dispute with franchisees raises risk for shareholders, says activist
PARIS, March 10 (Reuters) - Rising tensions between French supermarket group Carrefour ( opens new tab and its network of franchise stores in France could hurt the retailer's operational and financial performance, activist fund Whitelight Capital said on Monday. Since taking the helm at Carrefour in 2017, CEO Alexandre Bompard has focused on converting stores in France to franchises to outsource costs and protect margins in a fiercely competitive market. But some franchises are increasingly complaining of unfair conditions in the relationship. The Carrefour Franchisees Association (AFC), which represents 260 stores, said on Friday it was launching an alternative purchasing network named Project X, challenging Carrefour's supply chain. "Carrefour must imperatively adapt its economic model to avoid a progressive erosion of its franchise network and a weakening of its supply chain," France-based fund Whitelight said in a statement on its website. Whitelight, which says it holds an undisclosed stake in Carrefour, said the retailer must rebalance its relations with the franchisees as the tension is creating "structural risks for shareholders". Carrefour could not be immediately reached for comment. Its shares were up 0.27% at 13.3 euros by 1435 GMT. Whitelight Capital founder Kevin Romanteau declined to disclose the size of his fund's stake in Carrefour but told Reuters he wanted to increase it. He said it would be "desirable" to obtain a seat on Carrefour's board. The AFC has previously taken Carrefour to court, challenging the price at which the group sells franchisees products that are sold in their stores. AFC vice-president Anthony Thebaud said on Monday he had not heard from Carrefour, adding he was "available" to talk. "The franchise model is unbalanced, it is not sustainable," said Bryan Garnier analyst Clement Genelot, adding that any rebalancing would have a negative impact on the company.
