July 25, 2019 / 4:07 PM / a month ago

Carrefour first-half profits rise, says strategic overhaul on track

PARIS, July 25 (Reuters) - French supermarket retailer Carrefour on Thursday reported higher first-half profits and said it was on track with a strategic overhaul aimed at boosting earnings and tackling competition from the likes of Amazon.

Carrefour, which is Europe’s largest retailer, said group operating profits rose 2.6% from the same period last year to 618 million euros ($689.6 million). This compared with 598 million euros in a Reuters poll of five analysts.

Carrefour is in the middle of a plan by chief executive Alexandre Bompard to cut costs and boost e-commerce investment to increase profits and sales.

$1 = 0.8962 euros Reporting by Pascale Denis, Dominique Vidalon and Sudip Kar-Gupta; Editing by Jane Merriman

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