UPDATE 1-Retailer Carrefour says strategic overhaul on track as H1 profits rise [Reuters]
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Source: Reuters
UPDATE 1-Retailer Carrefour says strategic overhaul on track as H1 profits rise - Reuters 3 Min Read (Adds detail and background) By Pascale Denis and Dominique Vidalon PARIS, July 25 (Reuters) - French supermarket retailer Carrefour reported higher first-half profits and said it was on track with a strategic overhaul aimed at boosting earnings and tackling competition from the likes of Amazon . Traditional retailers around the world, such as Carrefour, its French rival Casino and Marks & Spencer, are stepping up their online presence to deal with the increase in purchases done over the Internet. Carrefour, which is Europe’s largest retailer, said group operating profits rose 2.6% from the same period last year to 618 million euros ($690 million). This compared with 598 million euros in a Reuters poll of five analysts. Carrefour had a 282 million euros improvement in cash-flow, while recurring operating profits at its competitive, key home French market rose by 6 million euros to 116
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