Dia's flotation earns Carrefour 2,3 billion | RetailDetail

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


Suitsupply suffers losses because of expansion

15/05/2018

Dutch Suitsupply has experienced a decent turnover growth last year, but its net result tumbled below zero because of its huge investments. Nevertheless, that is the only way forward according to its founder, whose focus is still fixed on the United States.

Starting this Friday, Belgium has its own national e-commerce event

15/05/2018

Move over, Black Friday! This week, Belgium launches its own national e-commerce event as Jack & Jones, Kiabi, La Redoute, Sarenza, Tape à l'Oeil and Veritas organise the first Belgian Friday.

H&M is turning to algorithms to boost sales again

14/05/2018

In an effort to reverse the decline in its worldwide sales, H&M is using technology that will help the world’s largest clothing brand stock its stores more efficiently, sell more effectively and adapt more quickly to current consumer trends.

Zalando's profit wiped away in first quarter

08/05/2018

German online retailer Zalando saw its first quarter profit completely wiped away: last year's 5.1 million euro net profit turned into a 15 million euro loss. Turnover grew 22 %, investments being the cause for both.

Strong online growth for Hugo Boss

03/05/2018

German fashion brand Hugo Boss managed growth in every region in the first quarter. Group turnover grew 5 % to 650 million euro, partially thanks to strong web shop sales.

France will impose recycling for unsold clothing in 2019

02/05/2018

The French government plans to impose a ban on the disposal or destruction of unsold clothing by fashion companies. The measure extends the rules already in place for food waste to the spillage of clothing.