Carrefour's Turnaround Efforts Bear Fruits

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.