PARIS (AP) _ The new CEO of Carrefour SA said Thursday he plans to increase discounting to win cash-strapped customers and gain market share in France after the company reported a 45 percent slide in 2008 net profit.
¶ Lars Olofsson, appointed last year to improve performance at the world’s No. 2 retailer, said he will spend euro600 million ($767.16 million) on promotions and other discounting to improve the company’s image on price. Carrefour is seen as more expensive than it actually is, he said.
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