Another Europe News
Carrefour cuts profit expectations again
A big profit warning from Carrefour – the fifth profit so far this year from the French group. Europe’s largest retailer said its profits this year will slump 15 percent.
It is cutting prices to try to recover lost market share and says it is battling an “increasingly challenging” economic environment.
It also reported an unexpected first-half net loss, with 884 million euros of one-off charges, mainly linked to its Italian business.
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