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BRIEF-French supermarket retailer Carrefour to present strategy plan on Jan. 23
November 14, 2017 / 7:17 AM / 10 days ago

BRIEF-French supermarket retailer Carrefour to present strategy plan on Jan. 23

Nov 14 (Reuters) - Carrefour:

* Company to announce new strategy plan on Jan. 23.

* Earlier this week, French retail giant Carrefour - under mounting pressure from traditional rivals as well as new competitors like Amazon - had sought to reassure investors that its plan to turn around its business was on track following a report of a delay.

* Shares in the world’s second-biggest retailer fell nearly 2 percent on Monday after BFM Business radio said new CEO Alexandre Bompard was unlikely to unveil his revival plan before early 2018 instead of before end-2017 as previously announced.

* The company is working on what is expected to be a far-reaching restructuring plan that some analysts estimate could involve one billion euros of cost cuts.

* One reason for postponing the announcement was to avoid any labour trouble over the crucial Christmas period, BFM said.

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