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N100:CA, Feb 22, 10:10 UTC

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Carrefour Brasil fourth-quarter net rises 6.3% on strong sales

CA

Carrefour Brasil fourth-quarter net rises 6.3% on strong sales. SAO PAULO (Reuters) - Brazilian food retailer Carrefour Brasil SA <CRFB3.SA> on Thursday reported a 6.3% increase in fourth-quarter net income year-on-year as strong sales continued to fuel growth. In January, Carrefour said total sales rose 11.4% in the fourth-quarter, excluding gasoline, to 16.8 billion reais, out of which 11.855 billion reais came from its wholesale division known as Atacadao. Carrefour Brasil, like the Brazilian unit of French rival Casino Guichard Perrachon SA <CASP.PA>, has been investing heavily in the wholesale format, which offers discounts to bargain-seeking Brazilians still recovering from a deep economic recession.

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Wednesday, February 19


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Carrefour faces CAK wrath over unfair supplier deals - Business Daily

CA

The retail giant has also been barred from delisting suppliers unilaterally without notice for failure to meet its stringent supply contract, according to the ruling shared by suppliers. Since launching its Kenya operations in 2016, the franchise has grown far faster than expected, attracting a strong client base among the country’s expanding middle class even as locally grown competitors like Nakumatt and Uchumi faced strong headwinds, leading to their collapse. The clauses include forcing suppliers to pay a non-refundable fee to do business with it and forcing merchants offering the retail chain goods to provide extra rebates or discounts. “All current supply agreements of Majid Al Futtaim Limited relating to its Carrefour Hypermarkets in Kenya be amended forthwith and in any event within 60 days of service of this order to expunge all offending provisions,” CAK Director-General Wang’ombe Kariuki ordered in a ruling seen by the Business Daily. The authority found Carrefour had wronged Orchards and ordered the retail chain to compensate the supplier of jams, sauces, canned products and spices for unilateral contract termination. When setting up shop in Kenya, Carrefour imposed extra rebates on sales made and which begin at 12 percent for whatever amount of sales with a maximum of 13 percent for turnovers of Sh26 million.

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Sunday, February 16


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Carrefour to buy 30 stores in Brazil from rival Makro

TRI CA

Carrefour to buy 30 stores in Brazil from rival Makro | NASDAQ. SAO PAULO, Feb 16 (Reuters) - The Brazilian unit of France's Carrefour SA CARR.PA has agreed to buy 30 stores from rival retailer Makro's Brazilian subsidiary for 1.95 billion reais ($453.69 million), the French retailer said in a securities filing on Sunday. Makro will continue to operate in Brazil but with only 24 stores in the country's richest state, Sao Paulo. In a securities filing last week, Carrefour confirmed talks to acquire the stores but denied Brazilian media reports it would acquire all of Makro's Brazilian operations.. Makro said the sale, which must still be approved by domestic antitrust watchdog CADE, is aimed at making its Brazilian business more profitable.

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Carrefour Group accelerates the expansion of its growing Atacadão format by acquiring 30 Makro stores in Brazil

CA

Grupo Carrefour Brasil has signed an agreement with Makro Atacadista SA to acquire 30 Cash & Carry stores in Brazil, accelerating the expansion of its growing Atacadão format. The acquisition involves 30 stores (including the real estate of 22 of those, which are fully-owned, and another 8 rented stores) and 14 gas stations, located in 17 states across Brazil1. With this transaction, we further expand our presence in the Brazilian market, the group’s second-biggest after France." Noël Prioux, CEO of Grupo Carrefour Brasil, added: "This transaction represents a growth accelerator for Carrefour in Brazil. Combined with our organic growth pace, with 20 new Atacadão stores opened in 2019, this acquisition corresponds to one year and a half of expansion and is a significant step for Grupo Carrefour Brasil."

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Monday, February 10


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Carrefour Brasil says it is in talks to acquire stores operated by rival Makro

TRI CA

Carrefour Brasil says it is in talks to acquire stores operated by rival Makro. Reuters10 February 2020, 22:05 UTC. SAO PAULO (Reuters) - Carrefour Brasil <CRFB3.SA> said in a filing on Monday it is in talks to acquire stores operated by rival retail chain Makro. Carrefour denied reports by Brazilian media last week saying that it was acquiring Makro's Brazilian subsidiary for 5 billion real (£898.32 million). Carrefour said in the filing the deal value would be much lower. What to read next.

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Thursday, February 06


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Carrefour in talks to acquire Makro retail chain in Brazil -report

TRI CA

Carrefour in talks to acquire Makro retail chain in Brazil -report. SAO PAULO, Feb 6 (Reuters) - The Brazilian unit of France's Carrefour SA is in advanced talks to buy retail chain Makro, controlled by Netherlands' SHV Holdings, Brazilian newspaper O Estado de S. Paulo reported on Thursday, citing people with knowledge of the matter. The paper said the deal is worth around 5 billion reais ($1.2 billion) and could be announced next week, without saying how it got the information. Carrefour Brasil and Makro did not immediately reply when contacted by Reuters seeking comment.

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Thursday, January 23


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Carrefour set for 2019 profit growth after Q4 sales accelerate

CA

Carrefour set for 2019 profit growth after Q4 sales accelerate. FILE PHOTO: Shopping trolleys are arranged inside the Carrefour hypermarket at the Two Rivers Shopping Mall in Nairobi, Kenya April 8, 2019. In its results release on Thursday it kept all its targets under the plan. For the full year that ended in December 2019 it said it expected recurring operating profit to reach 2.1 billion euros (1.8 billion pounds), an increase of 145 million at constant exchange rates. In Brazil, same-store sales rose 7.6% in the fourth quarter. However, in France where Bompard has made reviving flagging sales at large hypermarkets a priority, sales were down 0.9%, after falling by a similar 0.9% in the third quarter.

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Carrefour eyes higher 2019 profit as Q4 sales accelerate

CA

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. Carrefour, which has a purchasing alliance with Britain's Tesco and is cutting costs, as well as repositioning its business in its core French market, said that it expected its 2019 recurring operating profit to reach 2.090 billion euros. The company reports its full earnings in late February. For France alone, it predicted 2019 recurring operating profit would grow at a double-digit rate. Sales growth reached 3.1% on a like-for-like basis, excluding fuel and calendar effects, against 2.3% in the previous quarter.

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Carrefour: 2019 Results Reflect Successes of Carrefour 2022 Plan

CA

Hypermarket sales (-3.4% LfL) reflect the deterioration in the consumption environment at year-end and the weight of investments in competitiveness. Notes: (1) evolution of FMCG in value, source Nielsen; (2) 2019 ROI includes Rue du Commerce (closing of the transaction is expected at the end of Q1 2020); (3) prior to application of the IAS 29 and IFRS 16 accounting standards and excluding China, full-year 2019 ROI is expected at c.€2,080m vs €1,971m in 2018; (4) excluding petrol and calendar effects and at constant exchange rates; (5) variations presented in relation to 2018 sales restated for IFRS 5; (6) hyperinflation and currency effect in Argentina. After signing agreements on beef and milk in Q4 2019, Carrefour made a commitment in partnership with Herta in January to support the French pork sector by raising pork prices. In Europe (+0.7% LfL), Carrefour posted another sequential LfL improvement in Q4, with the highest growth rate since the announcement of the Carrefour 2022 plan:.

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Monday, January 20


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Carrefour Acquires Potager City, the Online Leader of Extra-fresh, Seasonal Fruit & Vegetable Boxes Sourced From Local Producers

CA

Carrefour Group (Paris:CA) today announces its acquisition of start-up Potager City, the leading distributor of online subscription-based boxes of extra-fresh and seasonal fruit & vegetables sourced via short distribution channels. Created by Yoann Alarçon, Potager City sells various fruit & vegetable boxes, delivered to pick-up points or to companies, together with healthy, straightforward and quick menus to help people eat better on a day-to-day basis. "With this acquisition, Carrefour is strengthening its food e-commerce offering. Customers will be able to subscribe to a practical, commitment-free box delivery service, providing them with extra-fresh, seasonal and local products that are both tasty and responsible, fully in line with our company purpose – the food transition for all !" According to Yoann Alarçon, the founder of Potager City: "A new chapter is starting for our team, our producers and our partners. We are delighted to join the Carrefour Group so we can put even more effort into deploying concrete, local and affordable solutions enabling consumers to eat healthier, tastier and more responsible food".

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