Retail in Asia

In Sectors

Carrefour hits the brakes after profits suffer a fall

Carrefour a week ago put the roll-out of the Carrefour Planet format on hold as it revealed a drop in profits in the latest financial year.

The news comes as Carrefour’s hypermarket format continues to suffer in Western Europe, despite the roll-out of Planet. The problems for Carrefour are two-fold in that in many European markets, discretionary non-food purchases are increasingly shifting online as well as being impacted by a consumer under continued pressure.

In fact, looking across the Channel to UK retailer Tesco, the problems at Carrefour are by no means unique. Tesco’s out-of-town hypermarket formats have also been struggling as non-food spending shifts online.

To view the full article (note: you must be a Retail Week subscriber), visit Retail Week.

(Source: Retail Week)