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FINANCIAL NEWS
Carrefour Express to become Carrefour Market
26 Jun 2011
(MENAFN) Carrefour, the world’s second largest retailer, said that it renamed around 16 of its Carrefour Express shops to Carrefour Market, reported The National.
The retailer added that the main goal of rebranding the Express shops was to shift the way clients perceive these stores so that they would be more associated with fresh ingredients and choice. Moreover, the items would be introduced on a store-by-store basis, focusing on high quality offerings like freshly baked breads and butchered meats.
It also said that the chain was established very well in the Gulf, in 2010, Carrefour held 8.7 percent of the UAE’s market share in grocery sales, up from 6.4 percent in 2006.
It is worth noting that this month, Carrefour said that its earnings for the first half of the year would decline by about 35 percent, with shares falling to a two-year low.
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