Carrefour sells and leases back 97 stores

Carrefour sells and leases back 97 stores

Carrefour has sold 97 of its supermarkets to investment company La Française AM in a 'sale and lease back' operation: while the supermarkets change hands, they will remain Carrefour Markets for the next 12 years. 32 other supermarkets and 7 hypermarkets in the south-western regions of Poitou-Charentes and Limousin leave the Carrefour group and become Super U stores.

365 million euro for 97 supermarkets

La Française AM is to pay Carrefour 365 million euro for the 97 supermarkets, an amount that Carrefour will “use to finance and develop property projects”, according to its headquarters in Boulogne-Billancourt.  The new owner is a real estate investor that was formed in 2009 by the merger of UFG and La Française des Placements Investissements.

 

39 Carrefours join cooperative  competitor

Last weekend, 32 supermarkets and 7 hypermarkets of the Coop Atlantique franchise organisation have defected from Carrefour to join the Super U chain. The 3,000 employees had a busy weekend switching all the labels, price tags, the neon logos outside (up to 4 metres high) and – of course – all the Carrefour private label products with their Super U equivalents.

 

Coop Atlantique had been a strategic partner of Carrefour since 1998, but the relations between the two have become quite tense as a result of a financial disagreement concerning tens of millions of euros in profit margins. 

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