BREAKING NEWS

Fnac Darty, Carrefour further tighten ties in France

Fnac Darty, Carrefour further tighten ties in France
FILE PHOTO: A Carrefour logo is seen on a Carrefour Hypermarket store in Merignac near Bordeaux, France, September 19, 2019. REUTERS/Regis Duvignau -
Copyright
REGIS DUVIGNAU(Reuters)
Text size Aa Aa

PARIS (Reuters) – Carrefour <CARR.PA> said on Tuesday it was in advanced talks with consumer electronics group Fnac Darty <FNAC.PA> to set up around 30 Darty standalone stores within its French hypermarkets under exclusive operating agreements.

Carrefour, Europe’s largest retailer, in the midst of a five-year overhaul plan, which entails using its hypermarket space more effectively in order to boost sales.

Carrefour hired Chief Executive Alexandre Bompard in July 2017 from Fnac Darty, France’s largest electronics retailer, and made reviving flagging sales at large hypermarkets a priority. Hypermarkets contribute 51% of Carrefour sales in France.

The two groups had opened two pilot Darty stores in November 2018 in Carrefour hypermarkets in Ville-du-Bois, near Paris ,and in Limoges, in central France.

They are finalising operating procedures for the roll-out of 30 stores in 2020 and 2021. The plan must however be cleared by antitrust authorities, the statement said.

In 2017, Carrefour and Fnac Darty had teamed up to purchase domestic appliances and consumer electronics in France to cut costs.

This partnership will terminate at the end of this year, enabling the two groups to independently conduct their annual price negotiations with suppliers for 2020.

(Reporting by Dominique Vidalon, editing by Louise Heavens)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.