PARIS: Retail giant Carrefour has announced a significant share buyback, acquiring 25 million of its own shares from Galfa, a subsidiary of the Motier group. This transaction, representing approximately 3.5% of Carrefour’s capital, will see Galfa’s remaining stake in the company adjust to 7.71% of the capital and 13.3% of the voting rights. This buyback…
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Carrefour to buy 25 Casino Group’s stores in France
PARIS: Carrefour, the French retail giant, has agreed to buy 25 hypermarkets and supermarkets from its rival Casino Group, in a deal that will reshape the country’s grocery landscape. The deal, which was announced on Friday, follows a memorandum of understanding signed by Casino and another retailer, Groupement Les Mousquetaires, on 24 January 2024. Under…
Carrefour announces plans to open 50 stores in Israel as part of franchise partnership
French retailer Carrefour has unveiled plans to open 50 stores in Israel as part of a franchise partnership with Electra Consumer Products and its subsidiary Yenot Bitan. The stores will comprise three hypermarkets, 10 supermarkets and 37 convenience stores, with nine of the locations in Tel Aviv. Carrefour said it would import around 1,200 stock-keeping…
Carrefour aims to triple its e-commerce GMV to €10bn by 2026
PARIS, FRANCE: Carrefour aims to triple its e-commerce GMV (Gross Merchandise Value) by 2026, to reach €10 billion, a news release said on Tuesday. Carrefour also expects that digital will contribute an additional €600 million to recurring operating income (ROI) in 2026 vs 2021. To this end, Carrefour will increase by around 50% its investments in digital, with a €3bn dedicated plan between 2022 and 2026. As…