Dia's flotation earns Carrefour 2,3 billion

As expected, Carrefour has split off its Spanish discounter Dia and introduced it to the Spanish stock exchange. Dia, the third largest discounter in the world, has a yearly turnover of 10 billion euro.

 

Disappointed shareholders

Carrefour earned 2.3 billion euro with the spin-off, which was planned mostly to give  compensations to some high-profile stockholders like LVMH, who were disappointed with recent results.

In June, the Dia shares were valued at 3.5 euro, the price Carrefour had paid for the last Dia shares. Straight after the stock exchange opening, the value dropped to 3.2 euro, reducing the revenue for Carrefour to 2.3 billion euro. Carrefour can use this sum to compensate for the disappointing results of the last few years – the group has had to issue a profit warning three times in the last year alone.  

 

Frontal attack on Brazilian front

On another front, the Brazilian one, Carrefour has officially approved negotiations for taking over the Grupo Pão de Açúcar. The resulting merged company should have a yearly turnover of more than 30 billion euro. Casino, GPA's current co-owners, are not pleased (to say the least) with the new step of their arch-rivals Casino.

As expected, Carrefour has split off its Spanish discounter Dia and introduced it to the Spanish stock exchange. Dia, the third largest discounter in the world, has a yearly turnover of 10 billion euro.

 

Disappointed shareholders

Carrefour earned 2.3 billion euro with the spin-off, which was planned mostly to give  compensations to some high-profile stockholders like LVMH, who were disappointed with recent results.

In June, the Dia shares were valued at 3.5 euro, the price Carrefour had paid for the last Dia shares. Straight after the stock exchange opening, the value dropped to 3.2 euro, reducing the revenue for Carrefour to 2.3 billion euro. Carrefour can use this sum to compensate for the disappointing results of the last few years – the group has had to issue a profit warning three times in the last year alone.  

 

Frontal attack on Brazilian front

On another front, the Brazilian one, Carrefour has officially approved negotiations for taking over the Grupo Pão de Açúcar. The resulting merged company should have a yearly turnover of more than 30 billion euro. Casino, GPA's current co-owners, are not pleased (to say the least) with the new step of their arch-rivals Casino.

Questions or comments? Please feel free to contact the editors


Plenty of interest for onerous Abercrombie & Fitch

26/05/2017

Fashion company Abercrombie & Fitch suffered a huge loss once more in the first quarter of 2017. Despite that, the board said there is plenty of interest for a possible acquisition.

Samwer brothers sell half of Zalando shares

26/05/2017

German brothers Samwer have sold almost half of the shares their investment firm, Global Founders, still holds in Zalando. The brothers’ share in the German online fashion retailers is now less than 5 %.

Minor first quarter turnover increase for Foot Locker

23/05/2017

Shoe chain Foot Locker’s first quarter turnover grew 0.7 % to 2 billion dollars (1.8 billion euro), but its net profit did drop from 191 to 180 million dollars (160 million euro).

Uniqlo makes fast fashion even faster

23/05/2017

Japanese Fast Retailing, fashion chain Uniqlo’s parent company, has managed to drastically speed up its production cycle. From now on, it will only take thirteen days to bring a design to the stores.

Patrice Louvet is Ralph Lauren's new CEO

19/05/2017

Fashion label Ralph Lauren has appointed Patrice Louvet as its new CEO. He will succeed Stefan Larsson, who decided to leave the company following a difference of opinion with founder and chairman Ralph Lauren.

Scotch & Soda continues French conquest

18/05/2017

Dutch fashion brand Scotch & Soda will soon open boutiques in Dijon and Paris, to add to its nine boutiques in France.

Back to top