Latest news with #Carrefour
Al Bawaba
3 days ago
- Entertainment
- Al Bawaba
Palestinian Mohammed Assaf rebuked for participation in Carthage festival
ALBAWABA - Palestinian singer Mohammed Assaf was heavily rebuked for his intention to participate in Tunisia's International Festival of Carthage. As part of the 59th Carthage festival, Palestinian artist Mohammed Assaf is preparing to perform a major concert on the evening of July 27, under the slogan "For Gaza." According to the media, the concert is expected to blend music with humanitarian values and solidarity with the Palestinian people. However, despite that, Assaf landed in hot water by his fans for major principles. One of the main reasons that Mohammed Assaf was criticized for was that the Carthage festival is sponsored by many companies and brands, including "Carrefour Tunisia". It is worth noting that the Carrefour group is under a huge boycott campaign by pro-Palestinian activists over its links to Israel. Another reason was that due to the harsh situation and the starvation in Gaza due to the blockade imposed by the Israeli army, banning humanitarian aid from entering the strip. Many fans attacked Assaf in the comments, saying: "What a shame," "So you're going to relieve them while you're singing????" and "How will the people of Gaza benefit from the concert? Explain to me, I can't understand." Another wrote: "How can you sing and dance while the people of Gaza are in this situation? I am Palestinian and humiliated by you." According to the BDS website, Carrefour, the French group, is a franchise partnership with Electra Consumer Products (ECP) and its retail subsidiary, Yenot Bitan, both active in the illegal Israeli settlement enterprise. The International Festival of Carthage is an annual music festival taking place in July and August since 1964 in the coastal city of Carthage, Tunisia.
Khaleej Times
3 days ago
- Entertainment
- Khaleej Times
Watch: Sheikh Mohammed visits Mall of the Emirates, spotted in Dubai supermarket
Hitting the mall this weekend? You might just spot the Ruler of Dubai, just like these residents. Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, has been visiting different parts of the emirate all week, surprising residents who catch a glimpse of him. Earlier, he was seen taking photographs with children and having warm conversations with residents while stepping out of a cafe in Dubai Mall. Not just that, the Ruler was also seen walking down the streets of the souk in Deira, despite the sweltering heat. This time, however, residents saw the leader walking past them in the aisles of Mall of the Emirates. On seeing him, one woman even shouted, "We love you!", a clear sign of how cherished he is by those who live here. Dressed sharply as always, the Ruler of Dubai walked with staff, a cane in hand. As with his other appearances this week, he was without armed guards, moving casually which is a striking contrast to many global leaders. Watch the video of him in the mall, below: Later, during the same mall visit, he was seen walking inside a supermarket, which appears to be a Carrefour. People could be seen stepping aside and taking photographs as they saw him pass by. Watch the video of him in the supermarket below: Earlier this week, he also travelled by the Dubai Tram, taking commuters by surprise. Many even pulled out their phones to capture the memorable moment. From malls and souks to trams and supermarkets, Sheikh Mohammed's presence this week has been a reminder of his deep connection with the people of Dubai. His spontaneous outings continue to inspire admiration, not just for his leadership, but for the humility and humanity he brings to it.
Yahoo
4 days ago
- Business
- Yahoo
Carrefour sells Italian supermarkets to NewPrinces for €1 billion
Carrefour supermarkets in Italy will soon be in the hands of Italian food multinational NewPrinces Spa, who announced the roughly one billion euro purchase on Thursday. The NewPrinces group owns the Plasmon, Centrale del Latte, Giglio, Polenghi Lombardo and Delverde food manufacturing brands, among others. The acquisition of approximately one thousand shops now requires authorisation from the relevant authorities, with a view to closing by the end of the year with Carrefour Nederland Bv and Carrefour Sa. With this transaction, the Reggio Emilia-based company reaches a potential turnover of 11 billion euros, becoming the second-largest Italian group in the food sector by turnover and the largest operator in terms of employment, with 13,000 employees in Italy and more than 18,000 worldwide, as well as 11,000 in related industries. "The acquisition of Carrefour Italia represents a fundamental step in the growth trajectory of our Group," said NewPrinces Group Chairman Angelo Mastrolia, "with this operation, we take a decisive step towards vertical integration between production and distribution, strengthening our ability to generate value along the entire supply chain." NewPrinces may decide to relaunch the Gs supermarket brand and rename the stores after three years. The food retailer was founded in Italy in the 1960s and was replaced by Carrefour stores in 2010. Related Approved: Paramount's $8 billion deal with Skydance can go ahead Exclusive: Chinese electric carmaker Zeekr eyes pan-European growth despite tariffs, acting CEO says Unrest proclaimed among Carrefour workers After the news of the takeover, the trade unions Filcams CGIL, Fisascat Cisl and Uiltucs declared a state of strike due to Carrefour Italy's failure to respond regarding the workers' prospects. The unions have asked for a meeting at the Ministry of Enterprise and Made in Italy to 'review the recovery plan', which is expected to include brand and development investments totalling more than €400 million between the seller and buyer. Minister Adolfo Urso expressed his "appreciation for an operation that strengthens Made in Italy," confirming that he will soon meet both Mastrolia and the unions. The French newspaper Les Echos commented on the news, writing that Carrefour 'removes a thorn from its foot', as its Italian operations were recording annual losses of €180 million. Carrefour president, Alexandre Bompard, assured the newspaper that he was leaving "Carrefour Italy in good financial condition."
Yahoo
4 days ago
- Business
- Yahoo
Carrefour posts 4.4% increase in LFL sales for Q2 2025
French retailer Carrefour has reported a 4.4% increase in like-for-like (LFL) sales for the second quarter (Q2) of 2025 - an improvement from the 2.9% growth seen in Q1. The retailer saw a 4.9% rise in food sales and a 1.4% increase in non-food sales on a LFL basis during this period. The company experienced a turnaround in France, with sales growing by 2.1% on a LFL basis, compared to a decline of 1.7% in the previous quarter. Spain also showed strong performance with a 2.9% LFL sales increase, up from 1.4% growth in Q1. Brazil continued to demonstrate robust growth with a 4.4% LFL increase, although this was slightly lower than the previous quarter's growth of 5.4%. Brazil's performance was against a high comparison base from the second quarter of 2024, which had seen a significant 6% growth compared to only 1.3% in the first quarter of that year. Carrefour stated that it is making solid strides in integrating Cora & Match and remains on track to achieve its €130m synergy target set for 2027. The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 1.1%, reaching €1.936bn, up from €1.916bn in the first half (H1) of 2024. Carrefour chairman and CEO Alexandre Bompard stated: 'Carrefour's business saw a clear acceleration in the first half of 2025, driven by the momentum in its three core countries: France, Spain and Brazil. This semester was marked by a more supportive environment in Europe, ending a long period of pressure on volumes.' 'Building on this momentum and the remarkable work of the teams and our franchise partners, Carrefour is approaching the second half with confidence and confirms all of its financial targets for 2025.' Carrefour has reaffirmed its financial targets for the full year 2025, anticipating slight increases in EBITDA, recurring operating income and net free cash flow. In July 2025, Carrefour and Coopérative U established a European purchasing alliance called Concordis, with the objective of strengthening their negotiating capacity through the consolidation of purchase volumes. The alliance is intended to enable both retailers to offer better value to consumers. In February, Carrefour disclosed plans to purchase all remaining shares of its Brazilian subsidiary, Grupo Carrefour Brasil, raising its ownership from the current 67.4% to a full 100%. Carrefour is in exclusive talks with NewPrinces Group concerning the divestment of its Italian operations. This transaction encompasses all of Carrefour's business activities in Italy and is aimed at enabling the company to concentrate on its core markets within Europe and Latin America. The deal is expected to be finalised before the conclusion of the fiscal year 2025. "Carrefour posts 4.4% increase in LFL sales for Q2 2025" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Reuters
4 days ago
- Business
- Reuters
Explainer: How did NewPrinces grow from a small milk business to buying Carrefour Italy
MILAN, July 25 (Reuters) - Carrefour ( opens new tab, Europe's biggest food retailer, has agreed to sell its Italian business to local company NewPrinces. NewPrinces, formerly known as Newlat, manufactures products such as pasta, milk, bakery and dairy products, and canned foods. They are sold under NewPrinces' own brands, such as Giglio and Delverde, or produced for third parties and the private label market. Its main markets are the United Kingdom, Italy and Germany. The company was founded by Italian entrepreneur Angelo Mastrolia, who started out with a small milk business in the southern city of Salerno. It has grown mainly through acquisitions, often buying troubled assets from large multinational groups. The initial jump in size came with the acquisition of Newlat from bankrupt Italian food and dairy group Parmalat for a token 1 euro. In 2019 it listed in Milan. Less than a year later it bought Italian dairy group Centrale del Latte d'Italia. The next big jump was last year's acquisition of UK food company Princes from Mitsubishi for 700 million pounds ($941 million), which led to a rebranding of the group as NewPrinces. Earlier this year, it reached an agreement to buy a plant in northern Italy from spirits group Diageo (DGE.L), opens new tab. This month, NewPrinces agreed to buy Kraft Heinz's Italian infant and speciality businesses, including the Plasmon brand, for an enterprise value of 120 million euros. The company has plans for more acquisitions and a potential UK listing of its food manufacturing division, though analysts have raised concerns about its debt levels and the challenges of integrating the different businesses. Angelo Mastrolia owns 75% of the company, with 10% held by Mitsubishi following the Princes deal. Angelo's son Giuseppe Mastrolia is chief executive and his daughter Benedetta is head of investor relations. The Princes acquisition lifted 2024 group revenue to 2.8 billion euros, from 793 million euros in 2023, for an adjusted core profit of 195 million euros. Carrefour Italia, which counts 1,027 stores in Italy, reported net sales of 3.74 billion euros last year, according to slides published on the NewPrinces website. NewPrinces management expects the group to surpass 7 billion euros in revenue by the end of 2026. ($1 = 0.7442 pounds)
