Carrefour suspends the Planet concept to reduce costs

The first European distributor Carrefour stops the "Planet" concept and reduces costs.

Carrefour loses market share in France and Southern Europe, and its result in 2011 is in decrease of 19 %.

The group said it would continue in 2012 its cost reduction. Thus, inventories will be reduced to two days.

The new concept "Planet " has not produced the desired results and is too heavy in investments. The Planet concept will only concern  11 hypermarkets in 2012  instead of the 221 hypermarkets planned for 2013 and should then be stopped.

source : reuters