FRANCE: Carrefour Chairman Shuns Tesco Merger Rumours

By | 7 February 2005

Retail group Carrefour's new chairman, Luc Vandevelde, says he is planning to keep the business independent, quashing rumours of a merger with market rival Tesco.

Vandevelde, an ex-Marks & Spencer chairman, took the helm at the world's second-biggest retailer last week, succeeding Daniel Bernard who recently resigned from the company he had led for over 13 years.

Carrefour has been losing favour in the French market in recent years and was forced to issue a profit warning last October.
 
The company currently operates 10,400 stores in 29 countries.

Sectors: Retail

Companies: Tesco

View next/previous articles

Currently reading -

FRANCE: Carrefour Chairman Shuns Tesco Merger Rumours

There are currently no comments on this article

Be the first to comment on this article

Related articles

UK: Tesco sales up, non-food performs well

Supermarket giant Tesco has reported an 11.5% rise in sales for the Christmas trading period, helped by strong results in non-food categories including clothing.

UK: Tesco Forced To Slash Chinese Orders

UK supermarket giant Tesco is suffering from the recent restrictions placed on EU imports of Chinese goods, but will continue to rely on China as an increasingly important clothing supplier.

UK: Terry Green To Head Up Tesco Clothing

Supermarket giant Tesco has appointed Terry Green, ex-chief executive of the collapsed Allders chain, as head of its clothing division.

Tag line

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page