Second-Largest Retailer in World Rebranding UAE Stores

Unions and shareholders alike aren't happy with Carrefour, the second-largest retailer in the world behind Walmart.

The Financial Times reports (sub. req.) that shareholders gave the go-ahead to sell Dia, its "hard discount" chain of stores, “at a stormy meeting where directors were grilled about the French group’s plans to transform its operations in Europe, and unions protested outside.”

At the same meeting, the chairman of the company, Amaury de Sèze, announced that he’s turning over his spot at the top of the org chart to chief executive Lars Olofsson.

Dia will go up for sale July 5, the Times reports. Carrefour also announced a rebranding of its branded stores in the United Arab Emirates.Continue reading...