Carrefour Property's flotation delayed

Carrefour announced today that it will delay its plans to introduce its real estate branch Carrefour Property to the stock exchange markets. The French retail giant also announced the departure of Carrefour France CEO James McCann.

 

James McCann, who has only been CEO at Carrefour France since February 2010, has always been a controversial person: he had to deal with (and, eventually, give in to) several major strikes demanding better salaries. The tasks of the former Tesco manager will temporarily be fulfilled by the Carrefour holding's chairman Lars Olofsson. 

 

New structure for Property to allow "eventual" flotation

Olofsson's first act after McCann's departure was suspending Carrefour Property's flotation, which was a very controversial plan with stockholders and employees alike. Nevertheless, the French group maintains its aim to introduce its real estate daughter to the stock exchange “eventually” and it will prepare Carrefour Property by applying a new structure under the watchful eye of an independent board of directors. 

 

Carrefour also announced that it will continue its plans for the flotation of its hard discounter DIA without delay.

Carrefour announced today that it will delay its plans to introduce its real estate branch Carrefour Property to the stock exchange markets. The French retail giant also announced the departure of Carrefour France CEO James McCann.

 

James McCann, who has only been CEO at Carrefour France since February 2010, has always been a controversial person: he had to deal with (and, eventually, give in to) several major strikes demanding better salaries. The tasks of the former Tesco manager will temporarily be fulfilled by the Carrefour holding's chairman Lars Olofsson. 

 

New structure for Property to allow "eventual" flotation

Olofsson's first act after McCann's departure was suspending Carrefour Property's flotation, which was a very controversial plan with stockholders and employees alike. Nevertheless, the French group maintains its aim to introduce its real estate daughter to the stock exchange “eventually” and it will prepare Carrefour Property by applying a new structure under the watchful eye of an independent board of directors. 

 

Carrefour also announced that it will continue its plans for the flotation of its hard discounter DIA without delay.

Questions or comments? Please feel free to contact the editors


Lower turnover and new CEO for Geox

19/01/2018

Italian shoe brand Geox’ turnover dropped slightly in the past fiscal year. It also replaced former CEO Gregorio Borgo with Matteo Mascazzini, who came from Italian fashion brand Gucci.

Slower growth for Primark

18/01/2018

Irish fashion chain Primark has seen its first quarter turnover grow 7 % at level exchange rates and 9 % taking the fluctuations into account. Analysts however had expected faster growth.

Zalando's profit is slightly below expectations

17/01/2018

German fashion web shop Zalando has grown nearly a quarter in the past fiscal year and its company profit also nearly grew 5 %, although the latter was slightly below its own expectations.

Record turnover for Yoox Net-a-Porter in 2017

16/01/2018

Online retailer Yoox Net-a-Porter (YNAP) achieved a record turnover in 2017, surpassing two billion euro. That is a growth of more than 10 % compared to the year before, when it just missed that milestone.

Hugo Boss reaches growth targets for 2017

16/01/2018

German fashion brand Hugo Boss has managed to reach its targets for 2017, partially thanks to strong fourth quarter growth. For its full fiscal year, turnover grew 3 % (excluding exchange rate fluctuations).

C&A owners consider sale to Chinese investors

15/01/2018

The Dutch Brenninkmeijer family is considering to sell clothing chain C&A, according to German magazine Der Spiegel. One option is to sell to Chinese buyers.

Back to top