Carrefour Sa

The world's No.2 retailer by sales, which has been operating in India since 2010, will shut its five Indian wholesale stores by the end of September, according to a company statement late on Monday.

French retail giant Carrefour SA will shut down its Indian operations and close its wholesale stores in the country, as it exits underperforming markets to focus on reviving its French business.

Carrefour operates five wholesale cash-and-carry outlets in India and, after foreign investment rules were eased in 2012, it had been widely expected to set up a chain of supermarkets.

It took Reliance Retail, part of Ambani's conglomerate Reliance Industries, seven years of losses, bruising trial-and-error and over $1 billion (Rs 6,100 crore at 1 dollar=61 rupees) in investments to find a formula that works for India, the world's fifth largest retail market and one of its fastest growing.

Worlds largest retailer Walmart will open 30 new stores in China while revamping its 400 odd other stores in the country investing over $80 million, even as French stores Carrefour and British Tesco PLC closed some of their units due to poor returns.

A cash and carry joint venture between Wal-Mart Stores and Bharti Enterprises plans to add 3-5 stores by end of the year, a spokeswoman for the world's largest retailer said on Tuesday. U.S. group Walmart operates 17 cash and carry, or wholesale stores, in India in partnership with Bharti Enterprises, which owns India's top mobile telecoms operat...

The world's No.2 retailer by sales, which has been operating in India since 2010, will shut its five Indian wholesale stores by the end of September, according to a company statement late on Monday.

French retail giant Carrefour SA will shut down its Indian operations and close its wholesale stores in the country, as it exits underperforming markets to focus on reviving its French business.

Carrefour operates five wholesale cash-and-carry outlets in India and, after foreign investment rules were eased in 2012, it had been widely expected to set up a chain of supermarkets.

It took Reliance Retail, part of Ambani's conglomerate Reliance Industries, seven years of losses, bruising trial-and-error and over $1 billion (Rs 6,100 crore at 1 dollar=61 rupees) in investments to find a formula that works for India, the world's fifth largest retail market and one of its fastest growing.

Worlds largest retailer Walmart will open 30 new stores in China while revamping its 400 odd other stores in the country investing over $80 million, even as French stores Carrefour and British Tesco PLC closed some of their units due to poor returns.

A cash and carry joint venture between Wal-Mart Stores and Bharti Enterprises plans to add 3-5 stores by end of the year, a spokeswoman for the world's largest retailer said on Tuesday. U.S. group Walmart operates 17 cash and carry, or wholesale stores, in India in partnership with Bharti Enterprises, which owns India's top mobile telecoms operat...