Carrefour CEO Alexandre Bompard on Thursday expressed confidence in his turnaround strategy after Europe’s largest retailer posted a stronger-than-expected 5.8 percent rise in first-half operating profits.
Casino, which is battling to ease investor concerns about its high debt levels, posted stronger-than-expected second-quarter revenue, thanks to accelerating sales in France and Brazil, and predicted solid growth ahead.
Upmarket department store Galeries Lafayette said on Wednesday it will sell Boulanger household appliances and multimedia products in its stores, the latest alliance to compete with online giants like Amazon .
Casino shares rose sharply on Wednesday, which traders attributed to Goldman Sachs declaring a stake in the French supermarket retailer and to an upbeat note on the stock from analysts at Deutsche Bank.
A deal between Carrefour and Tesco to team up on global purchasing will help them not only cut prices but also expand their own-label ranges, tightening a squeeze on major brand producers such as Nestle and Kraft Heinz.
French supermarket chain Casinoand cosmetics group L’Orealare launching new beauty stores in Paris this weekend, the latest effort by brick and mortar retailers to retain customers in the face of online competition.