February 22, Carrefour, said an insider ridicule. Carrefour recently caught within the meaning of his words,
less than a year in China, six stores closed down one after another, related to East, South, North China and four Central and Western regions. Carrefour explanation given is: poor management.
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fact, Carrefour, in China is suffering a crisis of confidence, perhaps, and not as the French headquarters is brewing a major change, and this change will affect the future operations of Carrefour in China, the direction and expansion path.
Recently, a media, Carrefour is considering the group split into three listed companies to enhance the investment value and increase profitability.
press insiders pursuant to the confirmation of Carrefour China, which would not comment. However, sources said, as expected if the implementation of spin-off plan, commercial real estate will become the second largest business group Carrefour, which means that the future development of Carrefour's own property or to focus on its expanding Chinese companies will be involved in commercial real estate.
a retail industry expert, told reporters that the profit in the retail business is very meager ordinary cases, the operating cost is very high, especially in rental costs, and some even of the total operating costs of 20% 30%, resulting in a
spin-off real estate business
reported that Carrefour plans to divest its real estate business Dia and Carrefour, and Carrefour Group, the two departments were listed in Paris; in the spin-off process , the Carrefour Group and Carrefour, Dia will control a majority stake in real estate. Meanwhile, Carrefour has been scheduled for 2 March 2011, shareholders meeting, will likely sign a provisional agreement on the split.
the Carrefour insider also told reporters that Carrefour is currently in China, about 180 stores, less self-built property, Carrefour entered China at the beginning of the property was held by some stores, but not number more, most of the leased property, this year plans to build 20 to 25 stores and no one home to purchase for their own self, but
It is reported that Carrefour real estate company founded in 2004, its real estate business, including department stores, supermarkets and shopping centers, Carrefour Group, the property holds about 6 percent of the property, worth over 20 billion euros. Carrefour stores in Europe are mostly owned property. Dia is the Carrefour Group, a Spanish multinational company engaged in retail discount stores operating in about 4,500 stores worldwide.
view in the industry, Carrefour was split into three companies were listed, and expand financing channels for the company, while the profits of commercial real estate business is much higher than the retail industry, which will bring business and shareholders to higher earnings.
In fact, investment in real estate business is the new major shareholder of Carrefour - France's richest man, the world's largest luxury goods company LVMH, Bernard Arnault, chairman and some early thoughts. Earlier, Carrefour's founding family members have been doing to concentrate on retail, but Bernard Arnault became Carrefour's largest shareholder, the public, said the future as the company's new Carrefour will concern real estate goals and business projects; When market conditions are ripe, may separate the real estate business, its public listing.
Carrefour China is undoubtedly the main market. Carrefour reports 2010 fourth quarter results show that the financial crisis, the 2010 downturn in global consumption, but still the chain Carrefour annual sales growth of 5.8% to 101 billion euros. Among them, 14.6% sales growth in Latin America, Asia, sales increased by 14.9%, sales in China increased by 12.5%.
only, the first Carrefour entered China in terms of commercial real estate has lagged behind those in the later Tesco Metro and Tesco. German retail giant Metro into China back in 1996 when the land purchase began the development of self-built projects. In addition to its stores in China, now Beijing, Shenzhen and endures all the project is to purchase self.
and Tesco in China signed up to commercial real estate projects has more than 20. Tesco Zhuangnan Bin, vice president of China said that these self-built project to purchase an average investment of about 400 million to 500 million yuan between.
in China, the majority of Carrefour's stores are leased properties, and some are through the buy-back shares to increase its stake in the joint venture, for example, Carrefour has 15% of Hangzhou and Ningbo Carrefour stake Commercial Limited 20% equity repurchase.
currently Carrefour in South China, Zhejiang, China and other mostly in the sole or controlling position. Industry analysts believe that this will help with their future real estate investment or even operate independently.
grab share of the transition from the pursuit of effectiveness
since 1995, opened its first store in China, the Carrefour in China, spent a happy ten years, as at the end of 2010, the company in China Mainland, the number of stores has reached 182.
However, since last year, Carrefour stores will suffer from related problems, within a year, gradually shut down six stores. Industry analysis, the closed shop because of poor management and zero for the contradictory results of the deterioration. Carrefour in China is suffering from the pains of transition.
Guangdong Foshan shop, for example, Carrefour suppliers cited reasons related to staff relations shop Some agents have said the sale of goods at Carrefour, the fees add up the maximum time to take 60% of sales, beyond the many manufacturers can afford. Prior to that, Master Kong, COFCO, ninety-three oil and other producers were openly accused Carrefour overcharged, and some small vendors directly to opt out.
However, for the closed shop, the Carrefour insider said that this does not affect the rate of expansion of Carrefour, the company continues to seek a new site, approve new stores. President and CEO of Carrefour China, also reiterated that Eric Legros, Carrefour in China each year is still 22 to 25 new stores may prescribe.
One analyst said the loss of Carrefour stores in China closed the intention is clear, that it is to seize market share from the restructuring to be effective.
told reporters today, even though the meager profits of the retail business, but operating costs are high, particularly rental costs.
In fact, in recent years, many retail properties have already begun to take self-built models such as Tesco, Auchan, RT-Mart and other retailers are expanding in the future tend to operate from the shopping industry, the future the added value of real estate can provide them with a lasting source of profits. In addition, the IKEA in 2009 to 790 million yuan in Beijing Daxing purchased the land, and now, with the rise in land prices, land value has doubled.
this, the Chinese League Secretary General Mr Wong that the commercial real estate, retail margins are not high, the profits of the industry average is 1% to 2%. The self property is not to reduce their operating costs, you can also enjoy the benefits of property appreciation, which is to promote the retail industry to switch to commercial real estate reasons.
industry speculation that Carrefour Group upon completion of the three spin-off of listed companies, real estate will become a good profit point. As for China, if the combination of real estate operations, it will help enhance the performance of its stores in China.
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