Retail in Asia

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French retailer Carrefour loses USD39m in 1H

Carrefour says it lost EUR31 million (USD39m) in the first half of the year as the struggling big box retailer pulled out of Greece and Singapore.

The company said on Thursday that the loss was largely due to the cost of selling its stake in Greek supermarket chain Marinopoulos, which will now exclusively operate Carrefour-branded stores in the country. The two stores in Singapore will also be closed by the end of the year.