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French supermarket giant Carrefour he French company issued its fifth profit warning of they year on Wednesday as it unveiled a €249-million ($355-million) first-half loss.
French supermarket giant Carrefour he French company issued its fifth profit warning of they year on Wednesday as it unveiled a €249-million ($355-million) first-half loss.
(OMAR TORRES/OMAR TORRES/AFP/GETTY IMAGES)

BREAKINGVIEWS

Carrefour’s ‘headless duck’ takes flight

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

Carrefour’s “headless duck” is taking flight. That was how chief executive officer Georges Plassat described Carrefour after taking charge last year, so dire had things become at Europe’s biggest grocery group. Well-received annual results reflect the turnaround since then. Major worries remain, stemming mainly from Europe’s economic gloom and shifts in how people shop. But Mr. Plassat could achieve more.