DOCSLIB.ORG

Carrefour Registration Document

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Carrefour Registration Document Registration Document Annual Financial Report 2016 REGISTRATION DOCUMENT 2016 Annual Financial Report 1 5 Presentation of Carrefour 7 Consolidated Financial Statements as of December 31, 2016 169 1.1 History of Carrefour 8 1.2 Presentation of Carrefour 12 5.1 Consolidated income statement 170 1.3 Carrefour in 2016 20 5.2 Consolidated statement of comprehensive income 171 5.3 Consolidated statement of financial position 172 5.4 Consolidated statement of cash flows 174 2 5.5 Consolidated statement of changes Corporate social responsibility 27 in shareholders’ equity 176 5.6 Notes to the Consolidated Financial Statements 177 2.1 CSR at Carrefour 28 5.7 Statutory Auditors’ report on the Consolidated 2.2 Carrefour’s CSR performance 36 Financial Statements 245 2.3 Action plans 38 2.4 Carrefour CSR results 76 6 Company Financial Statements 3 as of December 31, 2016 247 Corporate governance 93 6.1 Balance Sheet at December 31, 2016 248 3.1 Corporate governance code 94 6.2 Income statement for the year 3.2 Composition and operation of the Board of ended December 31, 2016 249 Directors 94 6.3 Statement of cash flows 250 3.3 Executive Management 114 6.4 Notes to the Company Financial Statements 251 3.4 Compensation and benefits granted to Company officers 117 6.5 Statutory Auditors’ report on the Annual Financial Statements 267 3.5 Risk management 128 3.6 Internal control and risk management procedure 138 3.7 Statutory Auditors’ report prepared in 7 accordance with Article L. 225-235 of the Information about the Company 269 French commercial code on the report of the Chairman of the Board of Directors 146 7.1 Information about the Company 270 7.2 Information on the capital 273 4 7.3 Shareholders 278 Management’s discussion and analysis 7.4 Stock market information 281 as of December 31, 2016 147 8 4.1 Consolidated sales and earnings performance 148 Publicly available documents 283 4.2 Group financial position 153 4.3 Outlook for 2017 156 8.1 Publicly available documents 284 4.4 Other information 157 8.2 Persons responsible for the Registration 4.5 First-quarter 2017 sales 159 Document and Annual Financial Report 284 4.6 Parent company financial review 162 8.3 Declaration by the persons responsible for the 4.7 Statutory Auditors’ special report on regulated Registration Document and Annual Financial Report 284 agreements and commitments 165 8.4 Persons responsible for auditing the Financial Statements 285 8.5 Information incorporated by reference 286 This is a free translation into English of the Registration Document 8.6 Registration Document concordance table 287 issued in French and it is provided solely for the convenience 8.7 Annual Financial Report concordance table 289 of English speaking users. 8.8 Management report concordance table 290 The elements of the Annual Financial Report are identified in the table of contents using the symbol As the reference in food retail, Carrefour operates nearly 12,000 stores and e-commerce sites in more than 30 countries. As a multi-local, multi-format and omni-channel retailer, the Group employs more than 384,000 people worldwide and generated total sales of 103.7 billion euros under its banners in 2016. Every day, Carrefour welcomes 13 million customers around the world and is actively committed to quality and to more sustainable trade. This Registration Document was filed with the French financial markets authority (Autorité des marchés financiers – AMF) on April 25, 2017, in accordance with Article 212–13 of the AMF General Regulation. It may be used to endorse a financial transaction in conjunction with a prospectus certified by the AMF. This document has been established by the Issuer and is binding on its signatories. CARREFOUR I 2016 REGISTRATION DOCUMENT 1 2016 key figures A multi-local group 13 million Nearly 105 million checkouts every day in our stores customer households around the world France Belgium Poland 5,670 772 886 stores stores stores China 254 stores Spain Romania 849 298 stores stores Italy 1,068 stores Taiwan 94 stores Locations as of December 31, 2016 Brazil 349 stores Other countries 1,092 stores Argentina 603 stores Integrated countries Franchise countries Store network By region By region By format In number of stores In thousands of sq.m. of sales area 171 Asia Other regions* Other regions* cash & carry Latin Latin America 1,462 America 441 331 920 stores 2,335 hypermarkets 952 Mainland France and overseas territories Asia 5,719 2,758 Mainland France and overseas Rest territories 3,227 of Europe 5,670 supermarkets 4,541 Rest of Europe 7,075 5,449 convenience stores * Africa, Middle East and the Dominican Republic 2 2016 REGISTRATION DOCUMENT I CARREFOUR A multi-format and omni-channel group Hypermarkets, supermarkets, convenience stores and cash & carry stores; E-commerce sites and solutions. 11,935 stores 1.3 million 12.4 million in more than 30 countries unique visitors a day fans, followers and subscribers across all of the Carrefour websites on Carrefour social media Store network (including franchisees and partners) Convenience Cash & carry TOTAL TOTAL (number of stores as of December 31, 2016) Hypermarkets Supermarkets stores stores 2016 2015 France 229 1,034 4,156 139 5,558 5,539 Partnerships in French overseas territories 14 28 66 4 112 111 Total France 243 1,062 4,222 143 5,670 5,650 Belgium 45 442 285 772 753 Italy 57 412 586 13 1,068 1,101 Poland 86 159 641 886 813 Romania 32 213 53 298 192 Spain 175 129 545 849 718 Partnerships in other European countries 44 422 202 668 1,490 Total Rest of Europe 439 1,777 2,312 13 4,541 5,067 Argentina 79 126 398 603 588 Brazil 237 42 70 349 288 Total Latin America 316 168 468 - 952 876 China 229 25 254 236 Taiwan 64 30 94 83 Partnerships in other Asian countries 81 8 2 2 93 87 Total Asia 374 38 27 2 441 406 Partnerships in other countries* 90 182 46 13 331 297 Total Group 1,462 3,227 7,075 171 11,935 12,296 * Africa, Middle East and the Dominican Republic A leading employer 384,151 92.4% 75.4% 39.2% employees of employees with of employees work of managers permanent work contracts full time are women Workforce by region Europe Latin America Asia 57% 26% 17% CARREFOUR I 2016 REGISTRATION DOCUMENT 3 Financial performance Total sales under Group banners including petrol Adjusted net income, Group share €103.7 billion €1,031 million (down 7.4% at current exchange rates) 1,113 1,031 Sales including VAT €85,700 million (up 2.7% at constant exchange rates) 46.8% 86,294 85,700 2015 2016 Change 26.2% (in millions of euros) 19.0% Net debt Net debt/EBITDA 8.0% €4,531 million 1.2x in 2016 (down 15 million euros) France Rest of Europe Asia Latin America 2015 2016 Change Geographic breakdown 4,546 (in millions of euros) 4,531 Credit rating Recurring operating income BBB+ Stable outlook €2,351 million 2015 2016 (down 3.2% at constant exchange rates) Change (in millions of euros) 43.9% 2,445 2,351 Capital expenditure* Free cash flow from * 30.3% continuing operations €2,492 million 30.2% €1,039 million 2,492 1,039 2,378 951 France Rest of Europe Latin America –2.5% –1.9% 2015 2016 Asia services Change Geographic breakdown Corporate (in millions of euros) 2015 2016 2015 2016 Change Change (in millions of euros) (in millions of euros) * Excluding Cargo * Before exceptional items 4 2016 REGISTRATION DOCUMENT I CARREFOUR CSR performance COMBATTING WASTE Targets 2016 Recover waste ∞ Recover 100% of waste by 2025 71.6% (+2.9 points vs. 2015) Combat climate change ∞ Reduce CO2 emissions by 40% by 2025 compared with 2010 -24.7% (+7.5 points vs. 2015) ∞ Reduce energy consumption per sq.m. of sales area by 30% by 2025 compared with 2010 -15.4% (+2.6 points vs. 2015) ∞ Reduce refrigerant-related CO2 emissions by 40% by 2025 compared with 2010 -45.3% (+14.9 points vs. 2015) ∞ Reduce transport-related CO2 emissions by 30% by 2025 compared with 2010 -7.1% (+0.1 point vs. 2015) PROTECTING BIODIVERSITY Targets 2016 Develop agroecology and organic products ∞ Foster direct relations with producers, to increase the number of Carrefour Quality Lines 464 partnerships (+4.5% vs. 2015) 1,107.4 million euros ∞ Promote organic farming in sales of organic products (+32.2% vs. 2015) Encourage the sustainable consumption of seafood 199 million euros ∞ Promote Carrefour Quality Lines and MSC & ASC-certified seafood in sales of MSC, ASC and CQL- certified seafood (+7.8% vs. 2015) Encourage sourcing of products that do not contribute to deforestation ∞ Ensure that all of the palm oil used in Carrefour products is sourced from RSPO-certified suppliers 100% ∞ Use 100% certified and/or recycled paper in catalogues 99.6% 105 million euros in sales ∞ Increase sales of PEFC and FSC-certified Carrefour products of PEFC and FSC-certified products Develop apiculture ∞ Encourage Carrefour countries to adopt a local approach to apiculture 48 sites equipped with beehives SUPPORTING OUR PARTNERS Targets 2016 Act as a responsible employer 14 training hours on average ∞ Develop employees’ skills per employee 39.2% of managers ∞ Encourage diversity and equal opportunity are women 3.3% of employees ∞ Encourage the hiring and retention of people with disabilities have a disability Listen to our customers 26% of our customers identified ∞ Include CSR in the customer barometer linked to Carrefour’s brand image our CSR messages in stores Improve the way our results/actions are communicated to the non-financial community ∞ RobecoSAM rating 74 ∞ Carbon Disclosure Project rating B ∞ VigeoEiris rating 55 Promote CSR in the supply chain and prioritise local suppliers 58% of suppliers fully participating ∞ Promote CSR to suppliers in the CSR self-assessment 73.8% of Carrefour own-brand ∞ Promote local suppliers food products sold were sourced from direct national suppliers (+3 points vs.
Load more

Recommended publications
  • Décision N° 18-DCC-65 Du 27 Avril 2018 Relative À La Prise De Contrôle
    RÉPUBLIQUE FRANÇAISE Décision n° 18-DCC-65 du 27 avril 2018 relative à la prise de contrôle exclusif des sociétés Zormat, Les Chênes et Puech Eco par la société Carrefour Supermarchés France L’Autorité de la concurrence, Vu le dossier de notification adressé complet au service des concentrations le 15 mars 2018, relatif à la prise de contrôle exclusif des sociétés Zormat, Les Chênes et Puech Eco par la société Carrefour Supermarchés France, et formalisée par un protocole de cession en date du 1er février 2018 ; Vu le livre IV du code de commerce relatif à la liberté des prix et de la concurrence, et notamment ses articles L. 430-1 à L. 430-7 ; Vu les engagements présentés les 15 mars et 18 avril 2018 par la partie notifiante ; Vu les éléments complémentaires transmis par la partie notifiante au cours de l’instruction ; Adopte la décision suivante : I. Les entreprises concernées et l’opération 1. La société Carrefour Supermarchés France SAS (ci-après « CSF ») est une filiale à 100 % du groupe Carrefour, lequel est actif dans le secteur du commerce de détail à dominante alimentaire, ainsi que dans la distribution en gros à dominante alimentaire. En France, le groupe Carrefour exploite des hypermarchés, supermarchés, commerces de proximité, cash and carry, sous les enseignes Carrefour, Carrefour Market, Carrefour City, Carrefour Contact, Carrefour Express, Carrefour Montagne, Huit à 8, Marché Plus, Proxi et Promocash. Le groupe Carrefour dispose par ailleurs d’une activité de drive et exploite plusieurs sites marchands sur internet : www.carrefour.fr, www.ooshop.carrefour.fr et www.rueducommerce.fr.
    [Show full text]
  • Global Vs. Local-The Hungarian Retail Wars
    Journal of Business and Retail Management Research (JBRMR) October 2015 Global Vs. Local-The Hungarian Retail Wars Charles S. Mayer Reza M. Bakhshandeh Central European University, Budapest, Hungary Key Words MNE’s, SME’s, Hungary, FMCG Retailing, Cooperatives, Rivalry Abstract In this paper we explore the impact of the ivasion of large global retailers into the Hungarian FMCG space. As well as giving the historical evolution of the market, we also show a recipe on how the local SME’s can cope with the foreign competition. “If you can’t beat them, at least emulate them well.” 1. Introduction Our research started with a casual observation. There seemed to be too many FMCG (Fast Moving Consumer Goods) stores in Hungary, compared to the population size, and the purchasing power. What was the reason for this proliferation, and what outcomes could be expected from it? Would the winners necessarily be the MNE’s, and the losers the local SME’S? These were the questions that focused our research for this paper. With the opening of the CEE to the West, large multinational retailers moved quickly into the region. This was particularly true for the extended food retailing sector (FMCG’s). Hungary, being very central, and having had good economic relations with the West in the past, was one of the more attractive markets to enter. We will follow the entry of one such multinational, Delhaize (Match), in detail. At the same time, we will note how two independent local chains, CBA and COOP were able to respond to the threat of the invasion of the multinationals.
    [Show full text]
  • Financial Report
    2008 FINANCIAL REPORT Carrefour SA with capital of 1,762,256,790 euros RCS Nanterre 652 014 051 www.groupecarrefour.com 2008 FINANCIAL REPORT OTHERS PUBLICATIONS: 2008 Sustainable Development Report 2008 Annual Report ADDITIONAL INFORMATION AND GROUP FINANCIAL REPORTS ARE AVAILABLE AT WWW.GROUPECARREFOUR.COM Design, creation, copywriting and production: Translation: Photocredits: Carrefour Photo Library, Lionel Barbe. Paper: The Carrefour Group is committed to the responsible management of its paper purchasing. The paper used in the 2008 Challenges Booklet is FSC (Forest Stewardship Council) certified. This certification attests to its compliance with a set of internationally recognised forest management principles and criteria. The aim of the FSC is to promote environmentally responsible, socially beneficial and economically viable management of the Earth’s forests. Printing: This document has been produced in association with RR Donnelley. The print facility used is CarbonNeutral® and its Environmental Management System is certified to ISO14001:2004. CONTENTS CONSOLIDATED FINANCIAL STATEMENTS 02 Management Report 09 Consolidated Financial Statements 13 Notes on the Consolidated Financial Statements 45 Companies consolidated by full integration as of 31 December 2008 53 Companies consolidated by the equity method as of 31 December 2008 54 Statutory auditors’ report on the Consolidated Financial Statements REPORT BY THE CHAIRMAN OF THE BOARD OF DIRECTORS 56 Report by the Chairman of the Board of Directors 66 Statutory auditors’ report on the Chairman’s Report ADDITIONAL INFORMATION 68 Consolidated store network 72 Commercial statistics CONSOLIDATED FINANCIAL STATEMENTS MANAGEMENT REPORT Accounting principles The Carrefour Group’s consolidated financial statements for fiscal The income statement as of 31 December 2007 is presented for the year 2008 have been drawn up in accordance with IFRS previous period.
    [Show full text]
  • Lidl Expanding to New York with Best Market Purchase
    INSIDE TAKING THIS ISSUE STOCK by Jeff Metzger At Capital Markets Day, Ahold Delhaize Reveals Post-Merger Growth Platform Krasdale Celebrates “The merger and integration of Ahold and Delhaize Group have created a 110th At NYC’s Museum strong and efficient platform for growth, while maintaining strong business per- Of Natural History formance and building a culture of success. In an industry that’s undergoing 12 rapid change, fueled by shifting customer behavior and preferences, we will focus on growth by investing in our stores, omnichannel offering and techno- logical capabilities which will enrich the customer experience and increase efficiencies. Ultimately, this will drive growth by making everyday shopping easier, fresher and healthier for our customers.” Those were the words of Ahold Delhaize president and CEO Frans Muller to the investment and business community delivered at the company’s “Leading Wawa’s Mike Sherlock WWW.BEST-MET.COM Together” themed Capital Markets Day held at the Citi Executive Conference Among Those Inducted 20 In SJU ‘Hall Of Honor’ Vol. 74 No. 11 BROKERS ISSUE November 2018 See TAKING STOCK on page 6 Discounter To Convert 27 Stores Next Year Lidl Expanding To New York With Best Market Purchase Lidl, which has struggled since anteed employment opportunities high quality and huge savings for it entered the U.S. 17 months ago, with Lidl following the transition. more shoppers.” is expanding its footprint after an- Team members will be welcomed Fieber, a 10-year Lidl veteran, nouncing it has signed an agree- into positions with Lidl that offer became U.S. CEO in May, replac- ment to acquire 27 Best Market wages and benefits that are equal ing Brendan Proctor who led the AHOLD DELHAIZE HELD ITS CAPITAL MARKETS DAY AT THE CITIBANK Con- stores in New York (26 stores – to or better than what they cur- company’s U.S.
    [Show full text]
  • Retail Food Sector Retail Foods France
    THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: 9/13/2012 GAIN Report Number: FR9608 France Retail Foods Retail Food Sector Approved By: Lashonda McLeod Agricultural Attaché Prepared By: Laurent J. Journo Ag Marketing Specialist Report Highlights: In 2011, consumers spent approximately 13 percent of their budget on food and beverage purchases. Approximately 70 percent of household food purchases were made in hyper/supermarkets, and hard discounters. As a result of the economic situation in France, consumers are now paying more attention to prices. This situation is likely to continue in 2012 and 2013. Post: Paris Author Defined: Average exchange rate used in this report, unless otherwise specified: Calendar Year 2009: US Dollar 1 = 0.72 Euros Calendar Year 2010: US Dollar 1 = 0.75 Euros Calendar Year 2011: US Dollar 1 = 0.72 Euros (Source: The Federal Bank of New York and/or the International Monetary Fund) SECTION I. MARKET SUMMARY France’s retail distribution network is diverse and sophisticated. The food retail sector is generally comprised of six types of establishments: hypermarkets, supermarkets, hard discounters, convenience, gourmet centers in department stores, and traditional outlets. (See definition Section C of this report). In 2011, sales within the first five categories represented 75 percent of the country’s retail food market, and traditional outlets, which include neighborhood and specialized food stores, represented 25 percent of the market. In 2011, the overall retail food sales in France were valued at $323.6 billion, a 3 percent increase over 2010, due to price increases.
    [Show full text]
  • Hypermarket Lessons for New Zealand a Report to the Commerce Commission of New Zealand
    Hypermarket lessons for New Zealand A report to the Commerce Commission of New Zealand September 2007 Coriolis Research Ltd. is a strategic market research firm founded in 1997 and based in Auckland, New Zealand. Coriolis primarily works with clients in the food and fast moving consumer goods supply chain, from primary producers to retailers. In addition to working with clients, Coriolis regularly produces reports on current industry topics. The coriolis force, named for French physicist Gaspard Coriolis (1792-1843), may be seen on a large scale in the movement of winds and ocean currents on the rotating earth. It dominates weather patterns, producing the counterclockwise flow observed around low-pressure zones in the Northern Hemisphere and the clockwise flow around such zones in the Southern Hemisphere. It is the result of a centripetal force on a mass moving with a velocity radially outward in a rotating plane. In market research it means understanding the big picture before you get into the details. PO BOX 10 202, Mt. Eden, Auckland 1030, New Zealand Tel: +64 9 623 1848; Fax: +64 9 353 1515; email: [email protected] www.coriolisresearch.com PROJECT BACKGROUND This project has the following background − In June of 2006, Coriolis research published a company newsletter (Chart Watch Q2 2006): − see http://www.coriolisresearch.com/newsletter/coriolis_chartwatch_2006Q2.html − This discussed the planned opening of the first The Warehouse Extra hypermarket in New Zealand; a follow up Part 2 was published following the opening of the store. This newsletter was targeted at our client base (FMCG manufacturers and retailers in New Zealand).
    [Show full text]
  • Lettre C2003-173 ED / MAGASINS TREFF MARCHE
    Bulletin Officiel de la Concurrence, de la Consommation et de la Répression des Fraudes N° 7 bis du 14 septembre 2007 Avis n° 07-A-03 du 28 mars 2007 relatif à l’exécution des engagements souscrits par le groupe Carrefour à l’occasion d’une opération de concentration NOR : ECEC 0764799V Le Conseil de la concurrence (commission permanente) Vu la lettre du 8 juillet 2005, enregistrée sous le numéro 05/0049 A, par laquelle le ministre de l’économie, des finances et de l’industrie a saisi le Conseil de la concurrence, en application des dispositions de l’article L. 430-8-IV du code de commerce, d’une demande d’avis relative à l’exécution des engagements souscrits par le groupe Carrefour sous conditions desquels le ministre a autorisé, par lettre du 7 novembre 2003, l’acquisition de la société Sonnenglut ; Vu le livre IV du code de commerce relatif à la liberté des prix et de la concurrence, et notamment son article L. 430-8 ainsi que le décret 2002-689 du 30 avril 2002 fixant ses conditions d’application ; Vu les observations présentées par le groupe Carrefour ; Vu les autres pièces du dossier ; Le rapporteur, la rapporteure générale adjointe, le commissaire du Gouvernement et les représentants du groupe Carrefour entendus au cours de la séance du 14 mars 2007 ; Adopte l’avis fondé sur les constatations et les motifs ci-après exposés : I. Constatations A. L’OPÉRATION DE CONCENTRATION ET LES ENGAGEMENTS SOUSCRITS PAR LE GROUPE CARREFOUR 1. Par une lettre en date du 7 novembre 2003 le ministre de l’économie, des finances et de l’industrie a autorisé sous conditions le rachat par le groupe Carrefour, via sa filiale Erteco, de la société Sonnenglut Weinkellerei Gesellschaft (ci-après Sonnenglut), propriétaire des magasins à l’enseigne Treff Marché.
    [Show full text]
  • Iacarrefoura2000ieng.Pdf
    Three high-growth international businesses to meet consumer needs everywhere we are present. > 1st IN HYPERMARKETS WORLDWIDE > 1st IN SUPERMARKETS IN EUROPE > 3 rd >IN HARD DISCOUNT STORES WORLDWIDE MESSAGEMESSAGE FROM THE CHAIRMAN > At the end of January, the European Commission cleared our mer- ger with Promodès. We decided on the rapid consolidation of all our hyper- markets under the Carrefour trade name, and all our supermarkets under a common trade name in each country. > In 87 hypermarkets and 490 supermarkets in France, and 117 hypermarkets and 109 supermarkets in Spain, Italy, Greece, Turkey, Indonesia, China and Korea, the current teams in Continent, Pryca, Continente, Euromercato, Stoc, Maxor and Supeco stores transform- ed those stores and reopened under the Carrefour or Champion name by the end of the year (January in Italy). > This was a major undertaking since the changes involved more than the name of the store or shelf displays. The changes meant train- ing men and women in new working methods and harmonizing product lines. Inevitably, this effort resulted in some disruption, which explains the year-end drop or slowdown in sales revenue in France and Spain. Sometimes custo- mers could not immediately find products in their usual place, sometimes products were not available in the store for short periods due to system changes. In the first half of 2001, all these stores should steadily return to normal operating conditions. > We plan to continue these changes in other countries. In Belgium, 60 hypermarkets will transfer to the Carrefour trade name by the end of 2001. In France and Spain, we will continue to make progress in pooling logistics, creating synergies over the long term.
    [Show full text]
  • Report on the Relations Between Manufacturers and Retailers in the Food Sector Report on the Relations Between Manufacturers and Retailers in the Food Sector
    Report on the relations between manufacturers and retailers in the food sector Report on the relations between manufacturers and retailers in the food sector Contents Report on the relations between manufacturers and retailers in the food sector Executive summary 4 1. Introduction 10 2. Grocery retailing in Spain 14 2.1. Concentration in grocery retailing 17 2.2. Retailing formats 28 2.3. Retailer own brands 34 2.4. The bargaining power of retailers 56 3. Commercial practices in retailing 76 3.1. Context 77 3.2. Analysis of commercial practices not based on prices 78 3.3. Competition risks posed by each of the practices identified 84 3.4. Iniciatives in other countries 114 4. Regulatory barriers in conditions for opening setting up and operating retail outlets 118 4.1. Analysis of the barriers of Department Sotores (DSs) 120 4.2. Effects of the barriers 127 5. Conclusions 130 6. Recommendations 138 Bibliography 142 Annex 1. Regional retail regulations 146 Index of graphs and tables 158 4 Comisión Nacional de la Competencia Executive summary Report on the relations between manufacturers and retailers in the food sector 5 Retail distribution is the final link between manufacturers and consumers. Retailers perform an essential function for consumers. For one, they select, stock and store the goods produced. And second, they facilitate purchasing decisions by providing information on the goods sold. As in other countries, food retailing in Spain has undergone a sweeping change in recent decades, which has been mainly characterised by the pre- vious model based on the traditional commercial format being replaced by another one in which large-scale retailers have firmly established themselves and supermarkets and hypermarkets have achieved a clear predominance.
    [Show full text]
  • 2012 Retail Foods Greece
    THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: 5/24/2012 GAIN Report Number: GR1209 Greece Retail Foods 2012 Approved By: Jim Dever Prepared By: Ornella Bettini Report Highlights: The Greek crisis has created a completely new retail grocery environment, with conditions in which many retailers and suppliers have never operated. In addition, Greece‟s high unemployment rate is having a negative impact on retail sales, as the austerity program. Supermarkets and cash and carry stores account for 90 percent of the total turnover of the foodstuffs sector in Greece, while grocery shops, mini markets, and small self-service stores take the remaining 10 percent. Post: Rome SECTION I. MARKET SUMMARY SECTION II. ROAD MAP FOR MARKET ENTRY SECTION III. COMPETITION SECTION IV. BEST PRODUCT PROSPECTS SECTION V. POST CONTACT AND FURTHER INFORMATION SECTION I. MARKET SUMMARY Greek Economy Overview Greece finds itself in one of its most challenging periods in its post-war history. Greece is contending with sizeable government deficit (-10.8 percent of GDP in 2010, -9.6 percent estimated in 2011), increasing public debt (149 percent of GDP for 2010, 165 percent in 2011), and is entering its fifth year of recession. The economy shrank by more than 6 percent in 2011 after a contraction of 4.5 percent in 2010, resulting in a 15 percent contraction since the beginning of the recession. The protracted economic crisis has lead to a contraction in bank lending, project development and investment.
    [Show full text]
  • Market Dynamics in Food Supply Chains: the Impact of Globalisation and Consolidation on Firms’ Mark-Ups
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Kaditi, Eleni A. Working Paper Market Dynamics in Sypply Chains: The Impact of Globalization and Consolidation on food companies' mark-ups LICOS Discussion Paper, No. 273 Provided in Cooperation with: LICOS Centre for Institutions and Economic Performance, KU Leuven Suggested Citation: Kaditi, Eleni A. (2011) : Market Dynamics in Sypply Chains: The Impact of Globalization and Consolidation on food companies' mark-ups, LICOS Discussion Paper, No. 273, Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance, Leuven This Version is available at: http://hdl.handle.net/10419/74915 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available
    [Show full text]
  • FRENCH MARKET PRESENTATION for : FEVIA from : Sophie Delcroix – Elise Deroo – Green Seed France Date : 19Th June, 2014
    FRENCH MARKET PRESENTATION For : FEVIA From : Sophie Delcroix – Elise Deroo – Green Seed France Date : 19th June, 2014 FEVIA 1 I. GREEN SEED GROUP : WHO WE ARE II. MARKET BACKGROUND AND CONSUMER TRENDS III. THE FRENCH RETAIL SECTOR IV. KEY RETAILERS PROFILES V. FOODSERVICE VI. KEY LEARNINGS VII. CASE STUDIES FEVIA 2 Green Seed Group Having 25 years of experience, the Green Seed Group is a unique international network of 11 offices in Europe, North America and Australia, specializing in the food & beverage sector OUR MISSION Advise both French and foreign food and beverage companies or marketing boards, on how to develop a sustainable and profitable position abroad Green Seed France help you to develop your activity in France using our in-depth knowledge of the local food and beverage market and our established contacts within the trade FEVIA 3 A growing and unique international network Germany (+ A, CH) The Netherlands Scandinavia U.S.A./Canada Great Britain Belgium France Portugal Spain Italy 11 offices covering 18 countries Australasia FEVIA 4 The Green Seed model Over the last decade, one of the most important trends in the French food & drink trade has been for retailers to deal with their suppliers on a direct line. Green Seed France has developed its business model around this trend. We act as business facilitators ensuring that every step of the process is managed with maximum efficiency. From first market visit, to launch as well as the ongoing relationship that follows. We offer a highly cost-effective solution of “flexible local sales and marketing management support” aimed at adding value.
    [Show full text]