date:Jul 18, 2014
makes 73 percent of its sales. Its problems are partly due to a reliance on the hypermarket format it pioneered, now that customers favor more local and online shopping.
In response, Chief Executive Georges Plassat has lowered costs, revamped stores, cut prices, simplified product offerings and given more autonomy to store managers, starting in France.
The second-quarter sales breakdown shows resilient trends in France and a positive surprise in Italy. We see nothing to move the dial on our i