The company will also open at least 15 large-format hypermarkets, 25 smaller hypermarkets and 13,000 cosmetics shops.
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WEAK HYPERMARKETS The third-quarter performance reflected a weak performance in France where CEO Alexandre Bompard has made reviving flagging sales at large hypermarkets a priority.
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Seiyu is a chain of supermarkets and hypermarkets in Japan.
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The company planned to open more six hypermarkets in 2016.
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There is talk of restructuring some French hypermarkets, cutting costs.
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The group does not own any hypermarkets in the country.
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Metro is also trying to offload its loss-making Real hypermarkets chain.
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Thai luxury malls, department stores and hypermarkets are all opening new outlets.
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Losses stem primarily from the company's China operations, especially in its hypermarkets.
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The company had to suspend operations at 86 of its 99 Chinese hypermarkets.
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Real runs 279 hypermarkets, of which 65 are owned by the group itself.
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Small stores had been replaced by huge "hypermarkets" on the outskirts of town.
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Another 10 hypermarkets will be converted into Sam's Club stores, the company said.
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AL-FUTTAIM GROUP TO OPEN SEVEN CARREFOUR HYPERMARKETS IN UZBEKISTAN IN 2020 - CEO
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Magnit only has about seven hypermarkets and its main format is neighbourhood convenience shops.
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Auchan will trial this in five French hypermarkets in the second half of 2019.
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It operates about 450 hypermarkets across China under the RT-Mart and Auchan banners.
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He will unveil his strategy for Carrefour, best known for its hypermarkets, on Jan.
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Since 2009, Carrefour Brasil has also converted 15 of its hypermarkets to the Atacadão format.
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Large grocery chains, called hypermarkets, had also been constructed outside the city, with free parking.
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For 2020, GPA sees the potential to convert some hypermarkets to Assaí wholesale stores, he added.
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IKEA, known for its flat-packed self-assembly furniture, owns 14 hypermarkets in 11 Russian cities.
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In China, Walmart owns 389 Walmart Supercenters, in addition to 20113 Sam's Clubs and 15 Hypermarkets.
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Out of Lotte's 99 hypermarkets in China, 67 had been closed by Chinese authorities as of Thursday.
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Metro said it was making progress on the sale process for its loss-making Real hypermarkets chain.
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The company has held talks with various parties in recent years over a sale of its hypermarkets.
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Along with Real hypermarkets in Germany, Metro's food unit had 2015-16 sales of 37 billion euros.
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In France, Casino has cut prices and retail space for non-food items at its Geant hypermarkets.
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They include Aéroports de Paris, an airport owner; LVMH, a luxury conglomerate; and Carrefour, a chain of hypermarkets.
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He is about to sell Real, a loss-making chain of hypermarkets, as well as Metro's China business.
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Sun Art operates about 446 hypermarkets in 29 provinces, autonomous regions and municipalities across China, according to Alibaba.
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Online generalists such as Amazon are pushing furniture while some hypermarkets are also branching out into home furnishings.
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CORRECTED-MAJID AL FUTTAIM (NOT AL-FUTTAIM GROUP) TO OPEN SEVEN CARREFOUR HYPERMARKETS IN UZBEKISTAN IN 2020 - CEO
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Carrefour has suffered from its reliance on hypermarkets, which it pioneered, as customers shift to local and online shopping.
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Earlier this week, Casino said it would sell 12 Casino hypermarkets and 20 supermarkets to Apollo Global Management
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Hypermarkets traditionally struggle in an economic downturn as consumers tighten their belts and turn to smaller shops and discounters.
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In Russia, the decreasing popularity of hypermarkets has been driven by weak consumer spending in the past two years.
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He also said talks with Redos to sell its Real hypermarkets were going well and exclusivity would be maintained.
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The company is making price and cost cuts and expanding into smaller convenience stores, while also revamping its hypermarkets.
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Metro revealed exclusive talks on Wednesday to sell Real hypermarkets to a consortium led by real estate investor Redos.
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Jackfruit modak, a sweet made by Maharashtra-based organization Sindhusfurti, is sold in big malls and hypermarkets across India.
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Charoen Sirivadhanabhakdi's Berli Jucker is on the acquisition trail again, four years after its purchase of Big C hypermarkets.
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Poll: The company said it had concluded a purchase agreement with the SCP Group for its Real hypermarkets business.
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The biggest drag on overall sales was a 0.1% decline in sales across hypermarkets, supermarkets, food & drink and tobacco.
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Meanwhile, the company's high level of ownership of French hypermarkets provides some operational flexibility, already reflected in the rating.
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The biggest drag on overall sales was a 0.1% decline in sales across hypermarkets, supermarkets, food & drink and tobacco.
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The group, which has a total of 472 hypermarkets in China, opened 11 new hypermarket complexes in the first half.
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Metro is still in talks with several investors who are interested in buying its Real hypermarkets chain, the wholesaler said.
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U.S. retailer Walmart Inc, which runs 400 hypermarkets in China, is also on the list, three of the people said.
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In 2017, Detsky Mir, which means "children's world" in Russian, plans to open at least 70 new supermarkets and hypermarkets.
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Deputy Prime Minister Mateusz Morawiecki proposes to ban super and hypermarkets from trading every second Sunday, Dziennik Gazeta Prawna said.
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Metro plans to spin off the unit, along with its Real hypermarkets, assuming it gets shareholder approval on Feb. 6.
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In addition, Sime Darby has a 30% stake in Tesco Stores (Malaysia), which has over 60 hypermarkets and convenience stores.
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Müssnich said the company may consider future conversions depending on the performance of the 104 hypermarkets left in its portfolio.
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We see consumer interest in hypermarkets continuing to decline globally as shoppers put more of a priority on speed and convenience.
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But Auchan will also follow Carrefour in having sections in its hypermarkets for non-food items sold by a partner company.
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Post demerger Metro's stand-alone wholesale and food specialist group should include the cash & carry business and the Real hypermarkets division.
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Closely watched same-store sales at Carrefour's French hypermarkets eased 0.7 percent after a 0.7 percent increase in the third quarter.
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Same-store sales at the Geant Casino hypermarkets arm in France were flat after rising 2.8 percent in the third quarter.
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With nearly 450 RT-Mart and Auchan hypermarkets across China, it is one of the most profitable operators of its kind.
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In Brazil, GPA should keep the pace of Assaí's organic expansion, while resuming conversions of Extra hypermarkets into this wholesale format.
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In Brazil, GPA should keep the pace of Assaí's organic expansion, while resuming conversions of Extra hypermarkets into this wholesale format.
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By March, 49 out of its 100 hypermarkets across Brazil had a section fully dedicated to healthy products, Vicente Silva said.
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Carrefour has struggled for years to reduce its reliance on hypermarkets, particularly in France, where it makes 47 percent of its sales.
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Lotte's retail outlets have been particularly hurt by the political tension with most of its hypermarkets and supermarkets in China shut down.
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Carrefour numbers 210 hypermarkets and 24 convenience stores and generated €3.6 billion — RMB 28.5 billion or $4.09 billion — in sales last year.
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In 2017, Auchan launched a three-year plan to modernize its hypermarkets, accelerate online expansion and focus more on smaller convenience stores.
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In 2017, Auchan launched a three-year plan to modernise its hypermarkets, accelerate online expansion and focus more on smaller convenience stores.
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The new Carrefour team faces a challenge to improve the performance of its French hypermarkets, a goal that has eluded several predecessors.
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"Especially in Sao Paulo, where some Assaí stores cannot be expanded, we consider a possible conversion of hypermarkets next year," Estermann said.
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Carrefour, which boasts more than 200 hypermarkets in China, has been in the People's Republic for nearly a quarter of a century.
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Growing market share and the conversion of former hypermarkets boosted net revenue at the company's Assai cash-and-carry stores by 25.2 percent.
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The cooperative group, which accounts for more than 40 percent of Finland's grocery sales, operates 16 Prisma hypermarkets and stores in St Petersburg.
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Metro, which runs wholesale stores in 35 countries as well as Real hypermarkets in Germany, split from consumer electronics group Ceconomy in July.
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On October 12th Lotte, a South Korean conglomerate, confirmed that it hopes to sell its Chinese hypermarkets by the end of the year.
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Auchan's latest plan will put more focus on organic food, and scale down space for non-food items in its French 123 hypermarkets.
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A union official said last month Carrefour's options included closing some French hypermarkets, turning some into franchises or introducing Sunday opening for others.
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The likely cuts and downsizing will result from the removal of jewelry corners in hypermarkets, cuts among managers and automation of petrol stations.
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A union official said last month that Carrefour's options included closing some hypermarkets, turning some into franchises or introducing Sunday opening for others.
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Holiday is one of the largest local retailers, with around 500 outlets, including discounters, convenience stores, supermarkets and hypermarkets scattered across seven regions.
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The retailer sells electronic and home appliances on credit in its hypermarkets, besides hosting gas stations and renting out space to other retailers.
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Carrefour has been trying to reposition in China, where it makes 5 percent of group sales, having been too focused on large hypermarkets there.
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Sivignon said the performance of the French hypermarkets was in a challenging environment, adding it reflected price cuts and warm weather conditions in June.
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Same-store sales at Carrefour's hypermarkets rose 0.1 percent in the first quarter following a decline of 2.2 percent in the fourth quarter 2018.
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A spokesman said the retailer will invest in its Real out-of-town hypermarkets and that there are parties interested in the Real stores.
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The sale would allow the company to focus on "efficiency improvement at compact city hypermarkets and accelerating the expansion of our discounters," O'Key said.
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The third-quarter performance reflected a weak performance in France where CEO Alexandre Bompard has made reviving flagging sales at large hypermarkets a priority.
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PA) has signed pledges to sell three of its Geant Casino hypermarkets for 42 million euros ($46.8 million) as it seeks to reduce debt.
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German wholesaler Metro slid after reporting another quarter of falling sales at its Russian business and its Real hypermarkets, which the company is selling.
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Metro, which runs wholesale stores in 35 countries as well as struggling Real hypermarkets in Germany, separated from consumer electronics chain Ceconomy last July.
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Same-store sales at the Geant hypermarkets in France rose 0.4 percent in the quarter, driven by a 4 percent increase in food sales.
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It plans to build malls, hypermarkets and mini markets, providing 8,000 sustainable jobs, Youssef Ali, group chairman and managing director, said in a statement.
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The third-quarter performance reflected a weak performance in France where CEO Alexandre Bompard has made reviving flagging sales at large hypermarkets a priority.
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The French business has suffered from an over-reliance on large hypermarkets, a format which analysts say is in decline as shopping habits change.
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He said Bompard was also keen on opening French hypermarkets on Sundays and talks on this would start with union representatives on Sept. 25.
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The first quarter performance reflected a stronger performance in France, where CEO Alexandre Bompard has made reviving flagging sales at large hypermarkets a priority.
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The pair manage around 40 supermarkets and hypermarkets in the kingdom, with Bindawood focusing on mid-market customers and Danube targeting more affluent consumers.
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In a separate statement, Walmart Brasil said it plans to convert 10 underperforming hypermarkets into wholesale stores Maxxi Atacado by the end of 2020.
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Sonae, which runs a stable of Continente-brand hypermarkets, electronic appliances stores Worten and other outlets, has a growing online retail business that needs cybersecurity.
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France's Carrefour is also expanding in Spain, and the supermarket chain said earlier this week it was buying 36 hypermarkets from domestic player Eroski Group.
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BERLIN (Reuters) - Germany's Metro is still in talks with several investors, who are interested in buying its Real hypermarkets chain, the wholesaler said on Tuesday.
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Private equity firms are seen as the most likely bidders for the hypermarkets business that has struggled to compete in the cut-throat German market.
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Carrefour has been trying to reposition itself in China, where it makes 4.6193 percent of group sales, having previously been overly focused on large hypermarkets.
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Advent plans to convert unprofitable hypermarkets into cash-and-carry wholesale stores and expand brands developed by Walmart in Brazil such as Maxxi and Todo Dia.
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IMPROVING FRANCE The first quarter performance reflected a stronger performance in France, where CEO Alexandre Bompard has made reviving flagging sales at large hypermarkets a priority.
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Quarterly sales at the Real hypermarkets fell 7.2 percent while the operating loss widened to 44 million euros amid a wage dispute with German union Ver.
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Free-falling food prices in the wake of a strong agricultural harvest, as well as lower unemployment, bumped up sales of supermarkets, hypermarkets, foods and beverages.
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The researcher said large stores - supermarkets and hypermarkets - will still account for half of the market in 2024, while the convenience segment will account for 22.2%.
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Its chain of hypermarkets and supermarkets in China were largely shuttered, and it is expected to sell the stores for a fraction of what it invested.
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Metro rose 1.5 percent after the German retailer said it is still in talks with several investors who are interested in buying its Real hypermarkets chain.
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Metro rose 1.5 percent after the German retailer said it is still in talks with several investors, who are interested in buying its Real hypermarkets chain.
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In order to improve its results, Auchan has launched a plan to modernise its hypermarkets, accelerate its online expansion and focus more on smaller convenience stores.
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Future Retail is likely an appealing investment for Amazon as it operates over 2,000 stores, including hypermarkets and supermarkets, in more than 400 cities in India.
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Carrefour is also benefitting from the renovation of some of its hypermarkets in Brazil and from the robust performance of its Atacadao cash and carry stores.
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These efforts have also entailed cutting prices at the Geant hypermarkets and the Leader Price discount stores to compete with local rivals such as Carrefour and Leclerc.
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In a scene repeated across France, the area's hypermarkets and fast-food restaurants have fueled the demise of artisan businesses in villages that abut new-build estates.
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Sales at French hypermarkets alone rose 0.5 percent after a 1.6 percent decline in the first quarter while supermarkets and convenience stores also had a good performance.
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Warm temperatures also weighed on apparel sales at the Geant Casino hypermarkets where same-store sales slowed to 0.3 percent from 2.2 percent in the second quarter.
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Earlier this week, Casino said it would sell 12 Casino hypermarkets and 20 supermarkets to Apollo Global Management in a deal worth up to 470 million euros.
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In contrast, compound annual growth rate (CAGR) for hypermarkets declined by 0.2 percent in 2015, reversing 2.2 percent and 5.0 percent growth in 2014 and 20133 respectively.
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The company held talks with major sector players in recent years about the sale of its hypermarkets but none of these negotiations ended up with a deal.
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Clouzard's challenge will be to boost the performance of the group's French hypermarkets, a goal that has eluded several predecessors because of cut-throat competition in France.
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The division known as Carrefour Varejo, which operates supermarkets, hypermarkets, convenience stores and e-commerce, gross sales excluding gasoline climbed 8.9% in the quarter ended on Sept.
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One of the biggest players in Thailand's retail market, Tesco has some 400 supermarkets and hypermarkets under its Tesco Lotus brand and 1,500 Tesco Express convenience stores.
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Müssnich and Chief Financial Officer Sébastien Durchon noted that Carrefour Brasil is open to considering an acquisition of GPA's hypermarkets, though they are not up for sale.
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This compared to a loss of 53 million euros in the first-half 2015 due to price cuts, notably at its Geant Casino hypermarkets and Leaderprice stores.
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Overseas Losses Remain Sizeable: We believe losses from overseas department stores and hypermarkets will remain significant, but will reduce slightly over the next two to three years.
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Aggressive discounts at Extra hypermarkets also helped to boost third-quarter sales volumes, GPA said, but net revenue in the food division rose just 1.1 percent, excluding Assai.
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German wholesaler Metro slid after reporting another quarter of falling sales at its Russian business and its Real hypermarkets, which the company is in the process of selling.
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Still, the official hoped the summit would ease the way for the planned sales of hypermarkets in China and lead to a full lifting of group tour bans.
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In addition, Russian hypermarkets tend to be smaller and closer to urban areas than those in western Europe, with a lower proportion of space assigned to non-food.
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Same store sales rose 0.6 percent at its Real hypermarkets, boosted by its push into online grocery, although growth was down from 2.5 percent in the previous quarter.
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Shopping for chocolate in China has largely moved online, hurting Hershey's investments in brick-and-mortar outlets such as supermarkets and hypermarkets, Berenberg analyst Fintan Ryan told Reuters.
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This reflected costs tied to the integration of the loss-making Dia discount stores and increased promotional activity at French hypermarkets amid cut-throat competition in the sector.
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Casino notably owns e-commerce discounter CDiscount, which makes 80 percent of its sales in non-food goods, as well as the Geant hypermarkets, Monoprix and Casino supermarkets.
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Metro argued on Wednesday that progress with its transformation was being ignored, including the planned Real hypermarkets sale and the search for potential partners for its China business.
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To cope with changing shopping habits, the group has also launched a plan to modernise its hypermarkets, accelerate its online expansion and focus more on smaller convenience stores.
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"In Vietnam, we are growing the food business to draw in traffic and go beyond hypermarkets and also offer beauty, fashion products and space for tenants," Yol said.
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Metro said in December it was entering exclusive talks on the sale of the Real hypermarkets to a consortium of property investors: X+Bricks and the SCP Group.
|
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The CEO's plans could also include converting some Carrefour hypermarkets into franchises and introducing Sunday opening for some of them, Force Ouvriere union representative Michel Enguelz told Reuters.
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Real has been struggling for years in a fiercely competitive German market dominated by discounters Aldi and Lidl and as the rise of ecommerce has undermined hypermarkets globally.
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Dansk Supermarked, the country's second largest supermarket retailer with a market share of around one-third, owns and operates 100 Fotex supermarkets and 18 Bilka hypermarkets in Denmark.
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UL plans to open 30 to 35 hypermarkets this year, versus 15.53 in 2016, Chief Executive Bruno Mercier said, citing increased competition spurred by the encroachment of e-commerce.
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Earlier this week, Casino said it would sell 12 Casino hypermarkets and 20 supermarkets to Apollo Global Management in a deal worth up to 470 million euros ($529 million).
|
|
Analysts have broadly backed Bompard's plan, but they have also expressed some disappointment at the fact that they had seen little signs of a turnaround at the French hypermarkets.
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FRANKFURT (Reuters) - One of Metro's key shareholders has criticized a planned sale of the retailer's hypermarkets chain Real as undervaluing the business, a person close to the matter said.
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Bompard ticks many boxes for the task ahead, with a track record of cutting costs and growing online operations - both of which could be central to reviving French hypermarkets.
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The REIT being considered could acquire around 40 Homeplus hypermarkets in South Korea, the sources said, declining to be identified as they are not authorised to speak to media.
|
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Amid encouraging signs, Hubner noted that revenue at French hypermarkets rose 0.2 percent in the first half while sales in France were flat after declining for five consecutive years.
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|
Last month, Casino reported slower sales growth in most of its store formats in France during the first quarter, including a mere 0.3 percent growth at the Geant hypermarkets.
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It will increase its hypermarkets to 12, from five at present, in the next three years, and increase smaller sized supermarkets to 38, from 18, in the same period.
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German services union Verdi has called a nationwide strike at Metro's Real hypermarkets to press a demand for its 34,000 staff to be covered by a collective pay deal.
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Like-for-like sales at its Real hypermarkets, which it records as a discontinued business, fell by 5.1 percent, mainly due to Easter falling outside the quarter this year.
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PARIS (Reuters) - French supermarket chain Leclerc, which launches a home delivery service in Paris this month, also aims to open click and collect stores and hypermarkets in the capital.
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Carrefour, which opened its first store in China in 1995, operated 220 hypermarkets and 39 Easy convenience stores in the country, generating sales of 4.619 billion euros in 2017.
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Carrefour bucked the trend, posting 8.5 percent growth in sales at existing stores, thanks to investments in hypermarkets and growth at Atacadão, the country's biggest cash-and-carry chain.
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Same-store sales at the Geant Casino hypermarkets in France rose 2.8 percent, an acceleration from 2.1 percent growth in the first quarter, as organic food products proved popular.
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Auchan, which is present in 17 countries and makes 65 percent of revenue outside France, operates 11 hypermarkets in five Ukrainian cities and employs 3,600 people in the country.
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BERLIN (Reuters) - German retailer Metro is considering effectively paying more than 1603 million euros ($225 million) to divest its loss-making Real hypermarkets, Handelsblatt business paper reported on Wednesday.
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Metro, which runs wholesale stores in 35 countries as well as Real hypermarkets in Germany, listed separately from Ceconomy in July but has seen its share price sag since then.
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Investors want Carrefour's new CEO to boost the performance of the French hypermarkets, a task where others have struggled or failed, and to catch up in the digitalisation of retail.
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DUESSELDORF, March 8 (Reuters) - German wholesaler Metro is aiming to sign a deal to sell its loss-making Real hypermarkets chain in April or May, Chief Executive Olaf Koch said.
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FRANKFURT (Reuters) - Metro's Real hypermarkets chain, which the wholesaler wants to sell in April or May, has attracted several bidder consortiums, several people close to the matter said on Friday.
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Carrefour, which opened two hypermarkets in Kenya last year through its UAE-based franchisee Majid Al Futtaim, will open a third this month in another shopping mall vacated by Nakumatt.
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In Brazil, its second-biggest market by revenue, food retail sales were robust, driven by the cash and carry Assai stores and sales revitalisation of the Extra hypermarkets, Casino said.
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American beef had been shunned by South Korean consumers after a 2003 incident of "mad cow" disease and was often sold cheaper than Australian beef in Korean hypermarkets like Costco.
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The bridge loan for Dhanin's CP Group will set a record in Thailand, trumping Berli Jucker's US$25.5bn-equivalent financing for its purchase of Big C hypermarkets in March 215.6.
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The wholesaler said it had reached a deal with a consortium consisting of property investors X+Bricks and the SC Group for the sale of its struggling Real hypermarkets unit.
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On Thursday, the Brazilian subsidiary of French retailer Casino Guichard Perrachon SA announced plans to convert around 20 Extra hypermarkets into Assaí wholesale stores, besides selling or closing another 10.
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It operates in 26 countries with 771 stores and 150,000 employees, and it is trying to offload its loss-making German hypermarkets chain Real, as well as its operations in China.
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It still operates in 26 countries with 771 stores and 150,000 employees, but it is trying to offload its loss-making Real hypermarkets chain, as well as its operations in China.
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The hypermarkets, which make 51 percent of Carrefour sales in France, have been struggling to win back customers amid fierce price competition from more nimble rivals such as Leclerc and Amazon.
|
|
In February, Carrefour said it would step up plans to downsize the hypermarkets and it also raised its cost savings goal to 2.8 billion euros by 2020 from 2 billion previously.
|
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It operates in 26 countries with 771 stores and 150,000 employees, and it is trying to offload its loss-making German hypermarkets chain Real, as well as its operations in China.
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|
This strategic plan is aimed at reducing its reliance on big hypermarkets in an effort to lift profits and sales, and tackle the growing competition from U.S. online retail giant Amazon .
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|
But a more sluggish performance in France, which accounts for 47 percent of sales and 44 percent of operating profit and where struggling hypermarkets still dominate, has hampered the stock's performance.
|
|
For some, Bompard ticks many boxes for the task ahead, with a track record of cutting costs and growing online operations - both of which could be central to reviving French hypermarkets.
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|
Lotte, South Korea's No.5 conglomerate, has faced a major setback in the wake of deteriorating bilateral relations, with most of its hypermarkets in China being shut down after fire inspections.
|
|
Closely watched same-store sales at French hypermarkets fell one percent in the quarter, a sharp improvement from a 3.1 percent fall in the second quarter, helped by promotions in September.
|
|
CASINO: Casino said on Thursday that the French group finalized the sale of 3 hypermarkets, 11 supermarkets and 16 Leader Price stores for a total of 58 million euros ($65.93 million).
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French rival Carrefour also reported stronger-than-expected second-quarter sales last week while flagging a persistently challenging environment in France where price cuts helped its hypermarkets division return to growth.
|
|
GPA is also accelerating its own wholesale division by opening 20 new stores and converting 10 Extra-brand hypermarkets into Assaí formats throughout 2020, according to Assaí's Chief Executive Belmiro Gomes.
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SAO PAULO (Reuters) - Walmart Brasil will close down its e-commerce operation in Latin America's biggest retail market to focus on brick and mortar locations, converting underperforming hypermarkets into wholesale stores.
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|
Outgoing Carrefour CEO Georges Plassat spearheaded the creation of Carmila in April 2014 as part of his strategy to revive the group's European hypermarkets by making them more attractive for shoppers.
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Carrefour China, which operates 210 hypermarkets and 24 convenience stores, had net sales of 3.6 billion euros and earnings before interest, tax, depreciation and amortisation (EBITDA) of 66 million euros in 2018.
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It also plans to convert five to seven hypermarkets into wholesale stores this year and has the potential for a total of 120 to 140 new stores by 2022, the executives said.
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Fourth quarter figures reflected a weaker performance in France where the "yellow vest" protests resulted in blocked access to some stores, notably hypermarkets which make some 20 percent of Casino French sales.
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Investors want Bompard to boost the performance of the group's France-based hypermarkets, a goal that has eluded several predecessors amid competition online and price discounting from rivals such as unlisted Leclerc.
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Sonae MC operates 173 Continente hypermarkets and large supermarkets and expects growth in the Portuguese market to be one of the fastest in Europe in coming years, including in smaller local stores.
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Metro, which runs wholesale stores in 35 countries as well as Real hypermarkets in Germany, expects sales to increase by only 0.5 percent, down from earlier guidance for a 1.1 percent rise.
|
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The Duesseldorf-based company is in talks to sell Real to peer Markant in a deal that would see the properties of the hypermarkets chain go to a different investor, Handelsblatt added.
|
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Carrefour China, which operates 210 hypermarkets and 24 convenience stores, had net sales of 3.6 billion euros and earnings before interest, tax, depreciation and amortization (EBITDA) of 66 million euros in 2018.
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SAO PAULO, May 93 (Reuters) - Walmart Brasil will close down its e-commerce operation in Latin America's biggest retail market to focus on brick and mortar locations, converting underperforming hypermarkets into wholesale stores.
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Carrefour, which is Europe's largest retailer, said sales at its French hypermarkets turned negative again amid bad weather conditions, further stiff competition from traditional and online rivals, and strikes during the Easter holiday.
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Patrice Etlin, a managing partner at Advent International in Brazil, said in June that the private equity firm would invest billions of reais to convert unprofitable hypermarkets into cash-and-carry wholesale stores.
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In the long term, Lotte is still hoping its China business will rebound, and the decision to sell its hypermarkets there doesn't mean it is quitting the market, spokesman Lee Byung-hee said.
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Metro, which runs wholesale stores in 35 countries as well as Real hypermarkets in Germany, is due to publish results for the first half of the 2017/18 financial year on May 15.
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DUESSELDORF (Reuters) - German wholesaler Metro said it expected non-binding offers to be made soon for its loss-making Real hypermarkets chain, with a binding offer to come six to eight weeks later.
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Food retailer Sonae MC operates 173 Continente hypermarkets and large supermarkets and expects growth in the Portuguese market to be among the fastest in Europe in coming years, including for smaller local stores.
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French supermarket retailer Casino said sales growth accelerated slightly in the second quarter, reflecting an improvement at its Geant hypermarkets in France, and reported a resilient performance at its recession-hit Brazilian market.
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A spokeswoman for Sun Art Retail, which operates 400 Chinese hypermarkets, said on Wednesday the chain had removed beef supplied by top Brazilian exporters BRF SA and JBS SA from its shelves from Monday.
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They also want Bompard to boost the performance of the group's French hypermarkets, a goal that has eluded several predecessors amid competition from online rivals and price discounting from rivals such as unlisted Leclerc.
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O). Carrefour is also expanding into convenience stores to reduce its reliance on big hypermarkets, focusing more on organic products and private-labels, having recently sealed a purchasing alliance with British rival Tesco (TSCO.
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Metro said talks with real estate investor Redos, which is leading another consortium seeking to buy the Real hypermarkets, were going full speed ahead, with the aim of completing them in the coming weeks.
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The Schwarz group posted 2018 sales of 104.3 billion euros ($117.4 billion), exceeding the 100 billion euro mark for the first time, as the Lidl chain grew 8.8 percent and Kaufland hypermarkets expanded 1.6 percent.
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But in recession-hit Brazil, where Casino makes around 40 percent of its sales, food retail sales grew 8.3 percent, driven by the cash and carry Assai stores and promotional activity at the Extra hypermarkets.
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MOSCOW, Sept 25.2 (Reuters) - Russia's second-biggest food retailer Magnit said on Wednesday it would not open any more hypermarkets and would focus on smaller stores to capitalise on customers' growing preference for neighbourhood shops.
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The Schwarz group posted 2018 sales of 104.3 billion euros ($117.4 billion), exceeding the 100 billion euro mark for the first time, as the Lidl chain grew 5003 percent and Kaufland hypermarkets expanded 1.6 percent.
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Future Group, which pioneered hypermarkets in the country, is outfitting small shop-owners and entrepreneurs with digital catalogues so that consumers can order Future Group products in places where there will never be a store.
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Metro, which runs wholesale stores in 35 countries as well as Real hypermarkets in Germany, split from consumer electronics group Ceconomy in July, hoping that independence would help it focus and potentially pursue more acquisitions.
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It said like-for-like sales rose 0.1 percent, supported by increases at its cash and carry and Real hypermarkets businesses, which it plans to separate from its consumer electronics chain and list next year.
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Metro CEO Olaf Koch has put Real up for sale, with private equity firms seen as the most likely bidders for the hypermarkets business that has struggled to compete in the cut-throat German market.
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Late on Thursday, Casino said revenue growth had slowed down slightly in the fourth quarter as anti-government protests in France impacted sales at its Geant hypermarkets, but Casino nevertheless kept its overall financial targets.
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Leclerc currently has no stores in Paris, but in a challenge to domestic rivals Carrefour and Casino, plans to open a hypermarket in 2180 near Montparnasse train station and possibly more hypermarkets in the capital.
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Metro expressed optimism that a Duesseldorf court will rule against shareholder challenges to the company's plan to spin off its cash and carry wholesale and Real hypermarkets operations from the Media-Saturn consumer electronics arm.
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CP All's strong earnings reflect the convenience store business, where the main sales come from ready-to-eat food and beverages and is more resilient than hypermarkets and other retailers in a slowing economy, analysts said.
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Carrefour Brasil continued to gain participation in the segments of cash and carry, hypermarkets and convenience stores over the first half, Chief Executive Officer Charles Desmartis said in a conference call to discuss second-quarter results.
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The chief of real estate investor Redos, which is leading another consortium seeking to buy the Real hypermarkets, was on Thursday cited by German business weekly Wirtschaftswoche as saying that talks on Real were progressing well.
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Auchan, which entered Russia in 21, opened its 260.8460th hypermarket in the country on Tuesday and said it aimed to add around 10 hypermarkets a year in Russia going forward as well as 20-30 supermarkets.
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In France, Carrefour, like smaller peer Casino, suffered setbacks ranging from bad weather to strikes that hit sales at its French hypermarkets while the integration of the loss-making Dia discount stores still weighed on profitability.
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BERLIN (Reuters) - Shares in Metro fell sharply on Thursday after the German wholesale group reported another quarter of falling sales at its Russian business and an impairment charge on the Real hypermarkets chain it is selling.
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Casino said on Thursday its revenue growth had slowed down slightly in the fourth quarter as demonstrations against the French government hit sales at its Geant hypermarkets, but it maintained its overall financial targets for 13.
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BERLIN, Jan 29 (Reuters) - German wholesaler Metro has pushed back expectations to conclude a deal on the sale of its struggling Real hypermarkets unit from the end of January to its annual general meeting on Feb.
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"We see competitors no longer betting on this format, but for us hypermarkets continue to be key in our ecosystem, as they help us boost banking services," said Luis Moreno, chief executive of Carrefour Retail unit.
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Analysts have said they want Bompard to boost the performance of the group's French hypermarkets, which are facing fierce competition from online retailers and have been hit by price discounting from rivals such as unlisted Leclerc.
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However, Lotte's ratings continue to be supported by its dominant position in Korea's department store industry and its diversified business portfolio that encompasses major retail formats, such as department stores, hypermarkets, supermarkets, convenience stores and outlets.
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BERLIN, July 4 (Reuters) - A consortium consisting of property investor X+Bricks and SCP Group said on Thursday that it had made a beefed-up offer to Metro to acquire the German wholesaler's loss-making Real hypermarkets.
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Analysts said they expected Alexandre Bompard, who joined in July, to take tough decisions to turn around a weak business in France, including cutting costs at the struggling hypermarkets while stepping up investment to accelerate online expansion.
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PARIS, April 17 (Reuters) - French supermarket retailer Casino posted a 3.1 percent rise in first-quarter sales on Tuesday that reflected stronger sales at its Geant Casino hypermarkets and a resilient performance in Brazil despite food inflation.
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PARIS, July 13 (Reuters) - French supermarket retailer Casino said sales growth accelerated slightly in the second quarter, reflecting an improvement at its Geant hypermarkets in France, and reported a resilient performance at its recession-hit Brazilian market.
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RIO DE JANEIRO (Reuters) - Petrobras Distribuidora SA will provide up to 2.3 billion liters of fuel to 20 hypermarkets and self-service stores owned by Carrefour SA for three years, the company said in a Tuesday filing.
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The acquisition of 13 hypermarkets, one supermarket and three land plots announced by Lenta on 26 October 2016 should accelerate Lenta's expansion and strengthen the group's business profile which has been considered relatively weak for its rating.
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PARIS, Jan 23 (Reuters) - Carrefour, Europe's largest retailer, said revenue growth accelerated in the fourth quarter, driven by strong sales in Brazil, while conditions remained challenging in France, where transport strikes weighed on business at its hypermarkets.
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The group said on Wednesday that sales at its French hypermarkets were flat in the third quarter following a 1 percent decline in the second quarter, although that was offset by growth in supermarkets and convenience stores.
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Another major focus will be the revitalization of Extra hypermarkets, with 10 to be converted into Assaí stores this year, an equal number to potentially follow and a final 10 to be closed or sold, Faiçal added.
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The court move means Metro can proceed with plans to list shares in its wholesale and hypermarkets food business on Thursday, while shares in the consumer electronics business - renamed Ceconomy - will trade independently for the first time.
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Analysts at Jefferies, who rate the stock a "hold", said the group was suffering on several fronts, including its exposure to the weak Russian economy, a tough environment for hypermarkets and a competitive German consumer electronics market.
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X+Bricks earlier this month beefed up its offer for the hypermarkets, while an initially planned deal with rival Redos - that would have seen Metro keeping a stake in Real - did not get over the finishing line.
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GPA, which sells products ranging from food to home appliances from its supermarkets, hypermarkets and other stores, said that most of the overhaul was already done, which should allow the retailer to close fewer stores in 2017.
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Mattel's new strategy reflects an acknowledgement of the fact that one size does not fit all, especially in China where one in every five customers prefers to shop for toys online rather than in hypermarkets and toy stores.
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PARIS (Reuters) - French supermarket retailer Casino said on Thursday that it would sell two of its 'Geant' hypermarkets for around 23 million euros ($26 million), as Casino continues a program of asset sales in order to cut debt.
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MOSCOW, Dec 15 (Reuters) - Russian food retailer O'Key Group said on Friday it had reached an agreement to sell its supermarket business to X5 Retail Group and would focus on developing compact hypermarkets and low-cost neighbourhood stores.
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In France however, same-store sales weakened in most store banners, including Franprix and Monoprix though they slightly improved at the Geant Casino hypermarkets where they rose 0.3 percent after a flat performance in the fourth quarter 2018.
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Lotte Shopping's ratings and Outlook continue to be supported by its dominant position in Korea's department store industry and its diversified business portfolio, which encompasses major retail formats, such as department stores, hypermarkets, supermarkets, convenience stores and outlets.
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It has long sought to shed its Real hypermarkets chain, which has annual sales of more than 7 billion euros ($7.8 billion) but has struggled for years in a fiercely competitive German market, dominated by discounters Aldi and Lidl.
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The conglomerate that operates Continente hypermarkets, consumer electronics stores Worten and SportZone outlets of sporting goods, among other brands, said that its food retail sales expanded 13 percent to 830 million euros, with same-store sales up 1.4 percent.
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The firm announced today it has spent HK$22.4 billion (around US$2.88 billion) to acquire of 20173 percent in Sun Art Retail Group, a Hong Kong-listed business that operates 446 hypermarkets across 224 cities in mainland China.
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The retailer is extending its exclusive talks with Redos to beyond July on the sale of Metro's REAL hypermarkets chain, a Redos spokesman told weekly Wirtschaftswoche, while a Metro spokesman said that a deal was targeted before end-September.
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Real has been a laggard in the fiercely competitive German grocery market dominated by discounter Aldi and Lidl, also suffering as consumers shift away from weekly shops at out-of-town hypermarkets towards more frequent trips to smaller stores.
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While GPA's cash-and-carry and convenience store segments are performing within management expectations, the hypermarkets and appliance units are still struggling with the highest urban unemployment in seven years, borrowing costs at a decade high and record delinquencies.
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Lotte Group, which has suffered a local boycott of its products since it agreed to provide land for the U.S. missile defense system, closed 75 of its 99 hypermarkets in China in recent weeks after regulatory inspections by authorities.
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Once a sprawling retail conglomerate, Metro has restructured in recent years to focus on its European cash-and-carry business, selling off the Kaufhof department stores, splitting from consumer electronics group Ceconomy and selling its struggling Real hypermarkets business.
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The low-cost Magnit, which has around 15,000 stores across Russia, said the deal would allow it to open at least 153 discount stores and three hypermarkets with a total selling space of not less than 62,417 square metres.
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PARIS, Jan 17 (Reuters) - Casino, which is battling investor concern over its high debt, said revenue growth slightly slowed down in the fourth quarter as anti-government protests rocking its core French market impacted sales at its Geant hypermarkets.
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"We are slowing down a bit our pace of expansion of hypermarkets and at the same time we want to make sure that every one of them reaches the turnover we want to have," Mercier said at an earnings briefing.
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Analysts said a financial investor might be interested in the real estate value of the 65 hypermarkets that Real owns, while other options could be a sale of parcels of stores to chains like Lidl or dominant supermarket group Edeka.
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BERLIN, Oct 20 (Reuters) - German retailer Metro reported that sales growth slowed in the final quarter of its 2016/17 fiscal year as like-for-like growth stalled in its wholesale stores in Germany and also slowed in its Real hypermarkets.
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The new rules - suggested by an expert panel - mirror those in developed nations like the United States and Britain, and would allow convenience stores, shopping malls and hypermarkets to sell fuels if they are eligible, said an oil ministry source.
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A softer competitive climate could come as a relief for retailers like Carrefour and Auchan, whose profitability is under pressure and whose hypermarkets sales suffer from aggressive price discounting from the market's dominant player, Leclerc, Barclays analyst Nicolas Champ said.
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The conglomerate, which runs 13 Continente hypermarkets and large supermarkets, Worten consumer electronics stores, Sportzone stores and other retail chains, said in a statement its underlying earnings before interest, taxes, depreciation and amortization (EBITDA) rose 24% to 243 million euros.
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FRANKFURT, July 13 (Reuters) - Labour union Verdi has called on 34,000 workers at Metro's Real hypermarkets in Germany to strike on Friday in protest over a wage agreement that it said would result in 23 percent lower pay for new hires.
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DUESSELDORF, Germany, April 5 (Reuters) - Germany's Metro must clarify its plans for its Real hypermarkets chain, the head of Real's works council said on Friday, adding he was sure that Metro is in talks with strategic investors to sell the chain.
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BERLIN, April 10 (Reuters) - Germany's Metro is in talks to sell its Real unit to peer Markant in a deal that would see the properties of the hypermarkets chain go to a different investor, German daily Handelsblatt reported on Wednesday.
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The conglomerate, which runs 174 Continente hypermarkets and large supermarkets, Worten consumer electronics stores, Sportzone stores and other retail chains, said in a statement its underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 20.9% to 485 million euros.
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PARIS, Jan 17 (Reuters) - French retailer Casino said on Tuesday it would deliver on its French profit forecast for 2016 after fourth-quarter sales reflected an improvement in its home market on a same-store basis, notably at the Geant hypermarkets.
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In France, Casino has cut prices at Geant hypermarkets and reduced retail space for non-food items in response to competition from online and smaller convenience stores, while it has also increased its focus on organic and fresh food products.
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Koch, who has been CEO since 2012, is selling Metro's Real hypermarkets in Germany as well as its Chinese business, which could have an enterprise value of $1.5 billion to $2 billion, people familiar with the matter told Reuters in March.
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DUESSELDORF, Germany, Nov 21 (Reuters) - Metro said on Thursday that a consortium including property investor X+Bricks had again registered its interest in the German wholesaler's loss-making Real hypermarkets chain and had signalled that it would improve its offer.
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CP All's strong earnings reflected the greater resilience of the convenience store model, where the main sales come from ready-to-eat food and beverages, compared with hypermarkets and other retailers which suffer in a depressed economic climate, analysts said.
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PARIS (Reuters) - French retailer Casino said on Monday it agreed to sell a portfolio of 12 Casino hypermarkets and 20 supermarkets to U.S. asset management firm Apollo Global Management in a deal worth up to 470 million euros ($529.03 million).
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BERLIN (Reuters) - German retailer Metro AG plans to sell its struggling Real hypermarkets and is confident of interest in the chain, though bankers played down talk it might attract Amazon and a price tag of up to 1 billion euros ($1.2 billion).
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Retail Strengthens Regional Presence: MAFR's Carrefour franchise continues to build on its regional strength with the establishment of 10 new hypermarkets and 10 supermarkets in 7503, driving an 8% increase in revenues to AED23.9 billion (2015: AED22.1 billion) and EBITDA of AED1.2 billion.
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The appraised real estate value of the hypermarkets under consideration was estimated around 4 trillion won, and the total listing size could exceed 2 trillion won ($1.86 billion), South Korean newspaper Korea Economic Daily reported on Thursday citing unnamed investment banking sources.
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Carrefour, which makes 21 percent of its sales in Europe, is pursuing a global revival launched by Chief Executive Georges Plassat in 20.9094 by focusing on price and cost cuts, and expansion into smaller convenience stores, while also renovating its chain of hypermarkets.
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Casino, which controls Brazil's top retailer Grupo Pao de Acucar, said food retail sales in Brazil rose 9.9 percent from 9.8 percent in the first quarter, despite slowing inflation, reflecting a recovery at the Extra hypermarkets and strong growth at the Assai stores.
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November traffic figures due Metro expects net proceeds of 1.5 billion euros from the sale of a majority stake in its China business and its struggling Real hypermarkets unit, both of which it said it hopes to close soon, the wholesaler said.
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But with the economy now picking up, S Group is planning to double its number of hypermarkets and supermarkets in St Petersburg in the next five years, possibly starting from 2018, said Executive Vice President Jorma Vehvilainen, who is in charge of the retail business.
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DUESSELDORF/FRANKFURT (Reuters) - Metro is in exclusive talks to sell its Real hypermarkets to a consortium led by real estate investor Redos, the German retailer said on Wednesday, adding it was taking a 385 million euro ($431 million) impairment charge on the loss-making chain.
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He told investors on Wednesday he would "re-shape" the French hypermarkets arm and boost its online expansion as Carrefour needs to catch up in the digitalisation of the industry, with Amazon's $13.7 billion bid to buy Whole Foods Market having shaken up the sector.
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The group, which has a total of 446 hypermarkets in China, is planning to open 30-33 new stores in the second half year after same-store sales fell 0.9 percent during the first half, compared with a 0.3 percent decline a year ago.
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BERLIN, Oct 25 (Reuters) - German wholesaler Metro on Thursday said fourth-quarter sales diminished due to another fall at its Russia business and the Real hypermarkets it is trying to sell, although its core business in Germany saw an improvement in like-for-like sales.
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What started as a modest trading company grew into a business organizing trade fairs that eventually mushroomed into the Crocus Group, a real estate empire that encompasses mammoth shopping malls, a chain of hypermarkets, an exposition center, restaurants, luxury housing developments and other enterprises.
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"The move should allow Casino to free up cash and to focus more on lucrative business lines such as E-Commerce and stores located in city centers as opposed to out-of-town hypermarkets," said Meriem Mokdad, a fund manager at Roche Brune Asset Management in Paris.
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Patrice Etlin, a managing partner at Advent International in Brazil, said at an industry event in Sao Paulo that the firm would invest "billions of reais" over the next two years in the operations and expects to convert unprofitable hypermarkets into cash-and-carry wholesale stores.
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Metro last month reported a 9 percent fall in sales at its cash-and-carry business in Russia, which has traditionally contributed a big chunk of operating profits, although it saw an improvement in same-store sales at its core German wholesale unit and its hypermarkets stabilised.
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CP Group will gain control of 1,965 stores that Tesco operates in Thailand – many of which it sold to the British firm during the 5.53-98 Asian financial crisis – including 200 Tesco Lotus hypermarkets and 1,600 Tesco Lotus Express convenience stores, plus 74 outlets in Malaysia.
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It will gain control of the 1,965 stores Tesco operates in Thailand - much of which the British retailer bought from CP Group during the 1997-8 Asian financial crisis - including 200 Tesco Lotus hypermarkets and 1,600 Tesco Lotus Express convenience stores, plus 74 outlets in Malaysia.
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Patrice Etlin, a managing partner at Advent International in Brazil, told journalists at an industry event in Sao Paulo that the firm would invest billions of reais over the next two years in the operations and expects to convert unprofitable hypermarkets into cash-and-carry wholesale stores.
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Some 80 percent of the budget will be used for Big C's expansion plan in 2017 when it aims to open nine hypermarkets, four Big C Markets and 200 Mini Big C outlets and renovate 42 existing stores, Rami Piirainen, vice president for investor relations, told reporters.
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Under Plassat Carrefour has made progress in most of Europe and in Brazil but it suffered a drop in group profit last year, pulled down by a tough French market, where its hypermarkets face competition from online rivals and aggressive price discounting from those such as unlisted Leclerc.
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In this context, the uncertainty around Metro's ability to enhance its profitability compromises any substantial improvement in its currently weak financial profile; therefore the Outlook remains Negative ahead of the planned spin-off of its cash & carry and Real hypermarkets, completion of which is aimed by mid-2017.
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Thursday's announcement also ties in with a broader strategy overhaul at Europe's largest retailer - which operates more than 1,300 hypermarkets among its 12,000-plus stores across over 30 countries - to focus more on areas such as fresh local products and organic food under a global five-year plan to boost sales and profits.
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"French trading profit of 85 million euros is 18 percent ahead of consensus of 72 million euros and in line with our expectations," said Bernstein analysts In Latin America operating profit fell 11 percent, with Brazil making the bulk of the decline as commercial plans to boost sales at its Extra hypermarkets weighed.
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"We consider the price offered by EPGC to be inadequate as it substantially undervalues Metro and, even after reviewing its further conditions, recommend our shareholders not to accept the Offer," Metro CEO Olaf Koch said in a statement here Shares in the group, which owns a core cash-and-carry business and a hypermarkets chain which is up for sale, were down 0.7% at 15.41 euros at 0835 GMT.
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Shin tells me that the reason for the big fundraise is primarily to support the company's newest vertical: it has launched Tmon Fresh, a move into grocery sales, with plans to double down on this space in coming months — a niche where Coupang, commonly referred to as the Amazon of South Korea and last valued at $2498 billion, has yet to go, and where "traditional hypermarkets" — as Shin refers to physical grocery stores in the country — have yet to make any major headway.
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