Fashion

Georges Plassat Carrefour's new CEO

Fashion

Georges Plassat Carrefour's new CEO

Georges Plassat is Carrefour's new CEO. An extraordinary meeting on Sunday evening finally confirmed the rumours that the world's second largest distributor would let go its Swedish CEO Lars Olofsson. Plassat will become Carrefour's new chairman starting 8 March.

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Price cuts cost Migros 0.9% turnover decrease

Fashion

Price cuts cost Migros 0.9% turnover decrease

Swiss retail group Migros recorded a turnover of 24.815 billion Swiss francs (slightly over € 20 billion) last year, which is a decrease of 0.9% compared to 2010. Its retail turnover went down by 0.7% to € 17.4 billion, even though customer frequency was up 0.2%. The group blames the bad economic situation in Switzerland, pointing out that its “real growth was 2.1%” as average prices went down by 2.8%.

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Disappointing Christmas for Morrisons

Fashion

Disappointing Christmas for Morrisons

British supermarket chain Morrisons has announced disappointing Christmas sales results. Despite the fact that the number of customers rose by 800,000 (+4.8%) per week, like-for-like sales went only up 0.7%; far worse than Reuters' analysts had expected (+1.3%) and a steep decrease from the third quarter's +2.4%.

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Metro opens new convenience store chain in Ukraine

Fashion

Metro opens new convenience store chain in Ukraine

According to a specialised website, Metro Group has opened the first two stores of a new Ukranian chain of convenience stores last December, in order to increase sales to small-scale wholesale companies, which currently account for 40% of the group's joint turnover.

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