And, despite some disappointment at its earnings, Carrefour shares rose nearly 4percentt a day after top shareholder, the Halley family, said it would scrap a pact that prevented some of its members from selling.
But the spread of aggressive, big-box retail chains such as Wal-Mart (whose strategy is built around passing on savings won from suppliers to its shoppers), Carrefour and Costco has destroyed much of the industry's pricing power.Meanwhile, retailers have begun plugging their own discounted, "private label" brands that compete with the pricier, higher-margin products from Unilever and P&G.
Like its competitors Carrefour and Metro, the company can hardly build stores fast enough these days: Last year Beijing abandoned a requirement thatoverseas companies buddy up with local partners.
Casino, which owns a 43% stake in GPA but was not consulted about the proposal, pressed its claim that Carrefour's plan to merge its existing assets in Brazil with those of GPA was hostile and arose "out of illegal negotiations".
TRUE to its French origins, Carrefour's flagship Bangkok hypermarket has a fine cheese selection.
Wal-Mart Said to Reconsider Brazil Business | Wal-Mart may once again try to buy the Brazilian business of its French rival Carrefour.
In Brazil, analysts said, interested buyers may include the local market leader, Pao de Acucar; Carrefour, its main rival; and Wal-Mart, which is far behind at about 2percentt of the market.
In France, which accounted for 44% of its sales in 2008, Carrefour is trying to overhaul its hypermarkets, where sales have dropped recently.
In Belgium, GM announced the closure of its Opel operations and Carrefour made severe cuts in its retail operations.
For all its bulk, for example, Carrefour has no presence in either Germany or Britain.
