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Carrefour's Turnaround Efforts Bear Fruits

May 4, 2015: 12:00 AM EST
French retailer Carrefour's share price climbed to €33 in early April 2015, much lower than the €50 high recorded in 2007, but double the value posted about two years ago. Although sales remained flat at €75 billion in 2014, its net profit rose to €1.4 billion. This trend reflects some successes made by the retailer following CEO Georges Plassat's announcement of a three-year recovery plan in 2012. Dubbed as a “back to basics” initiative, the includes the retailer refocusing its attention on its core business activities and spend its resources on segments it currently has a “strong position.” Also, Carrefour now focuses on fewer European markets, including France, Spain, and Italy. Carrefour withdrew from several emerging markets, leaving all of Asia except China.
"Check out the turnaround at retail giant Carrefour", Independent ie, May 04, 2015, © Independent.ie
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