Carrefour: sale of Chinese branch "not on the agenda"

Carrefour has no plans to sell its Chinese branch, a spokeswoman for the French retailer said to end to the rumours that have been circulating.

 

Years of turnover decline in China

Carrefour's Chinese adventure can hardly be called a success: the French retailer has been witnessing the decline of its turnover for years. Last year, turnover even dropped from 10 % to 3.6 billion euros – despite continued efforts to turn the tide as quickly as possible.

 

According to Bloomberg, quite a few scenarios are being discussed in Carrefour's headquarters in France: one of these could be its partial or complete sale, but Bloomberg is quick to add that no formal decision has been made yet. According to the financial news agency, Carrefour's activities in China are worth 900 million euros.

 

Prompted by Reuters, a spokeswoman from Carrefour has now revealed that the sale of the Chinese branch is "not on the agenda". The French giant opened its first Chinese outlet in Beijing in 1995 and is now active in seventy Chinese cities.