|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||3.0000 - 3.0800|
|52 Week Range||2.6000 - 4.0700|
|Beta (5Y Monthly)||0.65|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.05 (1.72%)|
|Ex-Dividend Date||Jun 08, 2020|
|1y Target Est||4.26|
Caps on the fees retailers pay to process debit and credit card transactions have helped push down prices, EU antitrust regulators said on Monday, but merchants called for even tighter limits. The Interchange Fee Regulation (IFR), which was triggered by a lengthy battle between retailers and payments groups including Visa and Mastercard, limits debit card fees at 0.2 percent of the transaction value and credit card fees at 0.3% of the transaction value. "Interchange fees for consumer cards have decreased, leading to reduced merchants' charges for card payments, and ultimately resulting in improved services to consumers and lower consumer prices," the European Commission said in a report.
Diageo Plc, the world's largest spirits maker, has doubled efforts to strengthen its presence in e-commerce channels in Brazil as the coronavirus pandemic triggered lockdowns, driving customers to drink at home, a company executive said on Friday. "Consumption at home has increased significantly over the past three months, but does not fully compensate revenue lost with the closure of bars, restaurants, nightclubs and events," Diageo's managing director for Brazil, Paraguay and Uruguay, Gregorio Gutierrez, told Reuters in an interview. "As soon as these on-trade channels closed, we reallocated our resources to an online task force," Gutierrez added.
In a bid to bolster presence in the global online retail market, Alphabet's (GOOGL) division Google, in collaboration with Carrefour, launches a new grocery shopping service in France.
Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google is teaming up with French supermarket operator Carrefour (OTC: CRRFY) to roll out voice-activated food shopping in France. In a press release, Carrefour said the new voice-activated service, which works with Google Assistant, is part of its efforts to expand in e-commerce and reflects widespread usage of voice-activated technology in France.
Carrefour and Google said on Tuesday they were launching a voice-based grocery shopping service in France as part of the French retailer's ambition to accelerate its expansion into food e-commerce. The service works via Google Assistant -- a digital voice assistance service on smart phones and other devices -- and is part of a strategic partnership between the two companies initiated in June 2018, the joint statement said. "This innovation, developed with Google, will further accelerate the trajectory of e-commerce at Carrefour," said Amelie Oudea-Castera, Carrefour's Executive Director of E-Commerce, Data and Digital Transformation.
Carrefour and Google said on Tuesday they were launching a new voice-based grocery shopping service in France as part of the French retailer's ambition to accelerate its expansion into food e-commerce. The service, based on Google Assistant, is part of a strategic partnership between the two companies initiated in June 2018, the joint statement said. Carrefour is in the midst of a global overhaul to boost sales and profits which entails investing 2.8 billion euros in digital commerce by end 2020 in the face of competition from Amazon.
(Bloomberg Opinion) -- The European Union is going to hold Amazon.com Inc.’s feet just a little bit closer to the fire. While this could make Jeff Bezos’s life trickier, it’s unlikely to be a catastrophe for the e-commerce giant and its founder. Still, the case can’t be ignored.The EU’s antitrust regulator plans to file a formal complaint against Amazon over the way it treats third-party sellers, Dow Jones reported on Thursday. The bloc’s probe started almost a year ago and focuses on Amazon’s marketplace operations. That’s where third-party retailers — from corner stores to multinationals — can flog their wares directly on the Seattle company’s website. It’s different from Amazon’s other approach, where it just buys a product from a supplier and sells it.The problem is that running the marketplace means Amazon can learn which products are popular and where, even when these aren’t goods that it’s supplying directly. It would be similar if Walmart Inc. had instant sales data from all of its brick-and-mortar rivals. Amazon has been accused of using this information to create Amazon-branded goods that then compete with the equivalent products made by marketplace sellers.Amazon’s data gives it a potential advantage even if sellers try to opt out of its ecosystem. Take fashion, for example, where operating as a retailer on the company’s marketplace is tough. You only get a prominent placement on the website if your product has received a certain number of reviews, usually about 15. Because fashion labels change their product lineups several times a year, it takes a lot of effort and expense to reach that number each time. That’s why many just don’t bother selling on Amazon at all.Yet Amazon will still know what kind of fashion products its customers want, from their searches and purchasing habits. So when it can’t get enough supply of a particular item — say if the retailer has run out of stock, or has simply opted not to sell on Amazon — it can manufacture its own equivalent, in this case a t-shirt or jeans. Amazon might also deem that the existing product is not at a compelling enough price for its customers. Most of Amazon’s 200 or so own-brand product lines are in fashion.Bezos’s company argues that what it does is no different from real-world retail giants such as Walmart, Tesco Plc and Carrefour SA making their own branded products. The difference may be in the power that Amazon now wields through its market data, and that third-party sellers are so dependent on its marketplace that its use of those data appears anticompetitive. Margrethe Vestager, the EU’s technology and antitrust chief, appears to believe she can demonstrate that.Any fine is unlikely to be crippling. Bloomberg Intelligence analyst Aitor Ortiz estimates it would be less than $1 billion, about 0.3% of Amazon’s expected revenue this year. But Vestager might attempt to change the company’s behavior. She’s done it before with Alphabet Inc. Now Bezos is up. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
French retailer Carrefour said on Tuesday it had agreed to buy Wellcome Taiwan from Dairy Farm, as it further expands its footprint in Taiwan and in the fast-growing convenience stores format. The transaction, with an enteprise value of 97 million euros ($108.00 million), covers the purchase of 224 proximity stores in quality locations as well as a warehouse, the statement said. Wellcome Taiwan posted net sales around 390 million euros in 2019.
The city of Sao Paulo is investigating a unit of Carrefour Brasil SA for an alleged bribery scheme, which could result in a fine of up to 20% of its 2019 gross revenue, the city's official gazette said on Thursday. The city's investigation is related to a criminal case that uncovered payments to city inspectors totaling around 1.5 million reais ($280,000) to operate, without a license, the headquarters of wholesale unit Atacadao and an adjoining store in Sao Paulo. Carrefour Brasil did not immediately respond to a request for comment.
Struggling e-commerce platform Jumia Technologies reported an almost 7 percent fall in first quarter revenue due to supply chain disruptions, particularly in China, but saw lower cash burn and signs that lockdowns were hastening a shift towards online shopping in Africa. Jumia was the first Africa-focused tech start-up to go public on the New York Stock Exchange and reached a market capitalisation of over $1.5 billion just days after it listed last April.
A French court on Friday rejected a request from the CGT union that a Carrefour <CARR.PA> hypermarket near Lille be forced to close aisles selling non-esssential products and it ordered the union to pay 1,000 euros compensation to the supermarket group. The union had contended that keeping these aisles open put staff needlessly at risk of infection. Thus, operating aisles offering products other than food, hygiene or pharma products was not illegal.
Carrefour <CARR.PA>, Europe's largest retailer, said on Monday it was halving its 2019 dividend to 0.23 euros per share and that CEO Alexandre Bompard would waive 25% of his fixed salary for a period of two months due to the coronavirus outbreak. Bompard has also proposed freezing the fixed salaries of all group executive committee members for the whole of 2020, and has asked them to waive 10% of their fixed salaries for a period of two months, corresponding to the peak of the crisis, the French retailer said in a statement. Bompard and members of Carrefour's board of directors have also decided to reduce their directors' fees by 25% for the current year.
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Uber Eats said orders for grocery delivery on its platform jumped 59% across Europe in March compared with February as countries locked down to fight the coronavirus, helping offset some of the impact of shuttered restaurants on demand. Uber Eats, which competes with the likes of Deliveroo, Takeway.com and Just Eat in online meal delivery, already offered alcohol and selected products from convenience stores. European general manager Stephane Ficaja said Uber Eats' store sign-up rate had doubled in March as convenience outlets looked for new channels to serve customers advised to stay at home to slow the spread of the virus.
Carrefour Brasil has seen its e-commerce sales more than triple over the past month as Brazilians have stocked up on food and other supplies during coronavirus lockdowns, but the cost of new hiring and other measures to cope with the pandemic may offset those gains, its chief executive told Reuters. One of a handful of large supermarket chains scrambling to adjust to drastic shifts in the market over the past 15 days, the local subsidiary of France's Carrefour SA has started taking the temperature of employees and customers entering its stores, hired thousands of workers and battled suppliers over price hikes on basic products. Brazil's coronavirus death toll rose to 1,223 people on Sunday, while the number of confirmed cases hit 22,169, data from the health ministry showed.
(Bloomberg Opinion) -- Here's one more issue to add to the bonfire of tensions with China brought on by the coronavirus pandemic. The country is reportedly reopening its wet markets, the fresh produce stalls associated with Covid-19's early spread in Wuhan.It's understandable that countries now in the grip of the first wave of infection might be outraged. Many blame wet markets for starting the outbreak in the first place. Opening them again, at a moment when thousands are dying overseas, seems emblematic of Beijing's increasingly chauvinistic approach to world affairs.Animals in wet markets are penned and slaughtered or sold live right next to stalls selling fruit and vegetables. Conditions, as my colleague Adam Minter has written, are often less than hygienic.Places where a range of common and exotic animals mix together while bodily fluids flow freely may seem a fertile breeding ground for the virulent novel diseases that cross the species barrier to humans and occasionally become pandemics.At the same time, let’s put the outrage on pause. Wet markets are increasingly losing ground to supermarkets in China. If they're showing resilience as suppliers of fresh goods, it's precisely because consumers regard them as a healthier and more sustainable alternative.That perception isn't inaccurate. The prevalence of food-borne microbial illness in developing East Asia suggests that far from being cesspits of disease, wet markets do a good job of providing households with clean, fresh produce. And while the origins of coronavirus remain obscure, they may have at least as much to do with more worldwide activities such as intensive farming as practices specific to Asia.The attraction of wet markets isn't so different from that of farmers’ markets in Western countries. In contrast to a supermarket model where multiple layers of retailers, wholesalers and logistics companies stand in between the consumer and the grower, wet markets offer a personal and direct connection between shopper, stallholder and farmer.Consumers know the food is fresh because there's generally little refrigeration, so everything must be sold on the day. If in doubt, they can ask the stallholder what's in season and which produce is best at the moment. If they think one market looks unsanitary, they can choose to shop at another.That helps explain how wet markets have managed to hold their own in spite of the growth of store-based retail in recent years. Supermarkets now account for about half of all grocery spending in China, up from about 36% in 1995, according to Euromonitor International. Add in convenience stores and the like and so-called modern grocery has about 68% of China's retail wallet, giving wet markets less than a third.Still, that store-based spending is overwhelmingly concentrated in packaged, rather than fresh produce. Foreign retailers that once hoped to dominate China's staple goods sector such as Carrefour SA and Metro AG have struggled and sold out of local ventures — but wet markets are still going strong.The evidence suggests this consumer loyalty isn’t misplaced. One 2015 study for the World Health Organization compared the number of years of life lost per 100,000 people due to food-borne sickness, disability and death. The region encompassing the wet market zone from China and South Korea down through most of Southeast Asia has the best record for microbial infections outside the Americas, Europe and the rich countries of the Pacific Rim.(1)What about Covid-19 itself, though? There's good evidence that the virus has genetic characteristics from another pathogen found in pangolins, an exotic mammal sometimes sold in Chinese markets. And it circulated extensively around one of Wuhan's seafood and meat markets last December, although the earliest infections don't seem to have been connected to the site.Only a small minority of wet markets sell such exotica, though, so you can close down the wild animal trade without shutting the places where most Chinese people get their daily sustenance. And don't overlook the possibility that a key ingredient in Covid-19's genetic cocktail isn’t wild game, but domesticated livestock. The high-density conditions on farms are far more conducive to cooking up novel diseases, as we've written — and even pangolins are farmed in China these days.To the extent that the mix of the raw and the cooked in Asia's wet markets is a health problem, it can easily be mitigated by better building design (such as separating meat, vegetable and livestock areas and keeping markets fully enclosed), plus the sort of mandated cleaning regulations found in places like Singapore, Hong Kong and South Korea.There's plenty to complain about in the way that China downplayed and hushed up the initial outbreak until it was all but inevitable it would become a worldwide pandemic. Closing all wet markets, though, isn't the solution. (1) Indeed, the data suggest the problem with Asia's appetite for "warm meat" isn't that fresh-slaughtered produce is less healthy than the chilled meat from an abattoir, but that local preferences for undercooked meat and fish lead to unusually high burdens of tapeworms, flukes and other parasitic worms. That's not something different retail formats can solve.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
When 52-year-old supermarket cashier Aicha Issadounene died after contracting the coronavirus, her Carrefour colleagues felt the full fear of working on the frontline. "I'm scared to go to work," said Tshela Ngandu, 53, who worked as a Carrefour cashier in the Paris suburb of Seine-Saint-Denis alongside union representative Issadounene. Issadounene's last day at work was on March 16, when she sat at a counter welcoming shoppers, union officials said.
Only a few weeks ago French supermarkets were packed with shoppers stocking up. Shelves were stripped bare. But now France is on lockdown and access to stores is restricted. That leaves many people struggling to fill their store cupboards. Especially those strictly self-isolating with coronavirus symptoms. Now Europe's biggest retailer is trying to help. Carrefour is teaming up with Uber Eats to deliver essentials in the French capital from April 6. Users will choose a store and place orders by phone. They should then get their delivery within half an hour. Uber Eats will waive all fees until the end of the month. It's hoped the service will later roll out nationwide. Other delivery companies are making efforts too. In France Deliveroo is supplying staples from some Franprix stores. In the UK it's delivering essentials to those self-isolating. And it's teamed up with smaller Marks & Spencer's stores located in petrol stations. After years of criticism over working conditions, delivery firms perhaps relish the chance for some better PR.
French supermarket chain Carrefour SA (CRRFY) teamed up with Uber’s (UBER) Eats unit on Wednesday to launch a delivery service, to meet demand for groceries and essential products during the France's nationwide coronavirus lockdown.Starting April 6, the delivery service will be available from 15 Carrefour stores in Paris and surroundings and will then be rolled out in nationwide. Uber Eats will remove the delivery fees on all Carrefour orders during the month of April.Four-star analyst James Grzinic at Jeffries earlier this month raised Carrefour to Buy from Hold as free cash flows and earnings remain attractive in the European food sector despite the coronavirus-related lockdown. (See Carrefour stock analysis on TipRanks)Uber Technologies enjoys a Strong Buy consensus rating from Wall Street analysts, which breaks down into 26 Buys and 3 Holds given in the past three months. The $43.44 average price target sees room for 67% upside potential in the coming year. (See Uber stock analysis on TipRanks)As part of the new delivery service, consumers will be able to select a Carrefour convenience store on the Uber Eats app or website, or dial by phone from 11am to 11pm to order products, including grocery shopping as well as hygiene and cleaning products. Home deliveries will be made within 30 minutes on average by a delivery person using the Uber Eats application and complying with health and safety guidelines laid out by the French government.“Combining the strength of Carrefour's convenience stores and the agility of the Uber Eats application will enable us to deliver customers' everyday products in a very convenient and secure way,” said Amélie Oudéa-Castéra, Executive Director of e-commerce, data and digital transformation at Carrefour. “As we face this crisis, we have a duty to come up with new solutions and digital technology is collectively opening up a lot of possibilities.”The Uber Eats application was launched in France four years ago and is now available in more than 190 cities and urban areas across the country.Related News: US Shale Stock Whiting Petroleum Files For Bankruptcy Billionaire Investor Howard Marks Believes Now Is The Time To Buy (But Not Too Much) Analyst Impressed by Sorrento’s COVID-19 Pipeline, Reiterates Buy More recent articles from Smarter Analyst: * AMD: A Stay-at-Home Stock That Could Keep Running * Billionaire Gabriel Plotkin Buy the Dip in These 2 Stocks * Spirit Realty Expects Funds From Operations to Fall in the Quarter * The Race Continues for a COVID-19 Vaccine; 3 Healthcare Stocks to Watch
Uber Eats <UBER.N> and Delivery Hero <DHER.DE> are expanding from providing restaurant meals into supplying groceries to customers stuck at home during lockdowns triggered by the coronavirus crisis. Uber Eats said on Wednesday it is teaming up with French supermarket group Carrefour <CARR.PA> for a new delivery service aimed at helping Parisians buy essential goods and food, and also has similar plans in Spain and Brazil. Berlin-based online marketplace Delivery Hero has also made changes to its operations spanning more than 40 countries to help get groceries to customers.
French supermarket retailer Carrefour and Uber Eats announced a new delivery service on Wednesday, aimed at helping Parisians buy essential goods and food during the nationwide lockdown triggered by the coronavirus crisis. The service, which will start on April 6, will allow users to choose a Carrefour convenience store on the Uber Eats app or website, or dial by phone from 11am to 11pm to order the products of their choice, including everyday grocery shopping as well as hygiene and cleaning products. Customers will also be able to get deliveries at home within 30 minutes on average by a delivery person using the Uber Eats application and complying with health and safety guidelines laid out by the French government.
Staff working in a supermarket of French retailer Carrefour <CARR.PA> in the southern city of Vitrolles will receive protective masks after some employees walked out over health risks associated with the coronavirus, a union said on Monday. French law gives workers a "droit de retrait" - or "right to withdraw" - under legislation introduced by Socialist President Francois Mitterrand in the early 1980s, if they feel there is a danger to their safety. The supermarket at Vitrolles, near Marseille, has 515 employees.
Brazilian retailers are feeling the coronavirus heat as malls close and people stay at home, but e-commerce may benefit. Brazil's association of e-commerce, ABComm, said on Thursday that it is likely to review its 2020 outlook soon, with some websites already seeing a surge in sales since March 12 of up to 180%, mainly in food and pharmaceutical items. Before the coronavirus outbreak, ABComm expected Brazilian e-commerce sales to grow 18% in 2020 from 2019 to 106 billion reais ($20.8 billion).