Carrefour seeks buyer for Italian branch

Carrefour is looking for interested parties for its operations in Italy. The retailer is holding discreet talks with several European retailers, including Lidl, Esselunga and Conad. Insiders report this to German trade magazine Lebensmittel Zeitung. Italy is the fourth largest country in Europe for the retailer, but it is a difficult and highly fragmented market in which Carrefour is only eighth. Sales there fell 5.3% to 3.63 billion euros last year and losses amounted to 250 million. Its market share is under pressure, its store network is shrinking.

That Carrefour is in the process of thoroughly reviewing and reorganising all its operations is no secret: “There are activities or chains for which we will decide to sell them or join forces. We will be very active in the coming months,” CEO Alexandre Bompard announced at the retailer’s recent general meeting. The retailer is integrating its Brazilian branch and also very briefly held exploratory talks with industry peer Ahold Delhaize. Carrefour is struggling with mixed results and a flagging share price. Investors are pushing for action.