31 Aug '11, 10am

Carrefour posts half-year loss, profit warning

PARIS: Carrefour, the world's second-biggest retailer, reported on Wednesday a half-year loss of 249 million euros ($359 million) and said it now expected annual operating profit to drop by 15 per cent. Analysts interviewed by Dow Jones Newswires had expected a half-year profit of 31 million euros. While the retailer's sales rose by 2.3 per cent to 39.6 billion euros, the results were slammed by 884 million euros in non-recurring charges, including 516 million in impairments charges mostly linked to Italian operations. "In the first half of 2011, Carrefour managed to grow its sales, driven by emerging markets, but overall results were unsatisfactory, weighed down by a poor performance in France and non-recurring items," chief executive Lars Olofsson said in a statement. He said the company would pursue its transformation plans and would favour long-term value creation over...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

Tweets

Bagaholicboy News! More @HMSingapore posts to c...

mymanybags.blogspot.com 03 Sep '11, 3am

Propagating consumerism and saving the economy in the name of bags! Simple, sophisticated male with too MANy bags, shoes a...

Tan Kin Lian on half-truths about life insurance

tankinlian.blogspot.com 02 Sep '11, 11pm

An insurance agent is taught many ways to convince a customer to buy life insurance, even if the customer suspect that he ...

Hermès’ half year profit soars at $414 million with the brand finding it hard to keep stocks up

Hermès’ half year profit soars at $414 million ...

luxurylaunches.com 02 Sep '11, 8am

Hermès’ half year profit soars at $414 million with the brand finding it hard to keep stocks up After selling a hundred ba...

The Year's 2nd Biggest ccTLD Sale Tops This Wee...

dnjournal.com 31 Aug '11, 11pm

I usually only report sales that include both the domain name and the price paid, but there was a very big one at the Afte...

As some #solar co.'s fail we'll see more attack...

treehugger.com 02 Sep '11, 3pm

Earlier this week, Solyndra announced bankruptcy. The announcement is a blow not only for the solar technology we hoped th...