France’s Carrefour free to focus on home market after retreat from China
Europe’s largest retailer agrees to sell 80% of its Chinese operations to Suning for €620m
24 June 2019 - 18:28
Paris/Singapore/Beijing — Shares in France’s Carrefour rose on Monday after it became the latest Western retailer to retreat from the Chinese market as fierce competition from domestic rivals and a growing online market puts pressure on foreign firms.
The pullback allows Europe’s largest retailer to focus its revival efforts on its home market where it is under intense competitive pressure from traditional rivals and from Amazon...
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