PARIS: Carrefour’s new alliances with tech giants Google and China’s Tencent show the French merchant’s e-commerce offensive is making huge development, president Alexandre Bompard told investors on Friday.Bompard, who took over as CEO in July 2017, said accelerating the business’s digital commerce growth was an”outright”top priority in the face of competitors from Amazon and other online competitors.”Six months ago we were isolated. All the retail alliances
were happening without us. Now we have offers with Tencent and Google,”Bompard informed the company’s annual shareholders conference.” Your business has actually ended up being attractive again and is resolutely offending. I am extremely happy with the Google collaboration which reveals that Carrefour is back at the greatest level worldwide,”he said.Europe’s biggest retailer in January revealed strategies to cut costs and tasks, boost e-commerce financial investment and look for a collaboration in China in an effort to raise revenue and income and beat domestic rivals in the race to develop digital shopping products.As part of these strategies, Carrefour announced on Monday it was coordinating with Google to increase e-commerce on its house turf.Carrefour has been a laggard in e-commerce and the Google deal remains in line with Bompard’s strategies to invest 2.8 billion euros in the sector by 2022, 6 times its past rate of investment.It follows a deal in March between Amazon and upmarket French chain Monoprix saw the U.S. online giant make further inroads into food retail in France.Other digital efforts from Carrefour have actually consisted of the opening of its very first high-tech shop in Shanghai last month in collaboration with Tencent.The group also announced a five-year buying alliance with Systeme-U to makes Carrefour the most significant purchaser in its competitive home market.In April, however, Carrefour provided a mindful outlook for this year after sales development slowed in the first quarter, with continued weak point in its core French market suggesting the supermarket chain faces a long road to recovery.Shareholders on Friday backed Bompard’s 2017 pay plan and the plan paid
to previous CEO George Plassat, who left on July 18, 2017. Over 68 percent of votes cast approved Plassat’s 2017 payout, that included nearly 4 million euros in exchange for him devoting not to join a rival. The bundle drew whistles and boos
from trade union agents and private shareholders at the meeting.Advisory company Proxinvest had actually suggested voting versus Plassat’s payment, saying it was”too huge in view of the group’s performance”. In March, Carrefour revealed a 34 percent cut to its annual dividend after it reported a net loss of 531 million euros for 2017 and a 14.7 percent fall in operating profit.Bompard informed investors he would make propositions to the board so that his own future departure plan would not “stir an argument”.(Reporting by Dominique Vidalon; additional reporting by Pascae Denis Modifying by Richard Lough and Mark Potter) Technology Carrefour manager hails progress in e-commerce method Carrefour manager Alexandre Bompard on Friday told shareholders that new alliances with tech giants Google and China’s Tencent revealed the French merchant’s e-commerce offensive was making an effect. Alexandre Bompard, Chief Executive Officer of French merchant Carrefour, postures prior to a news conference to provide the business’s tactical strategy in La Defense, near Paris, France, January 23, 2018. REUTERS/Philippe Wojazer/Files
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