Content about Hypermarkets

New Delhi, India -- India’s government said Thursday that it has OK’d plans to permit foreign retailers to open stores that sell more than one brand, paving the way for retailers such as Wal-Mart Stores and Carrefour SA to expand their presence in the country.

The approved plan calls for overseas companies to put half of their investment in infrastructure such as processing, manufacturing, storage, warehouses and packaging.

Armonk, N.Y. -- Hypermarket chain Real, part of Metro Group, worked with IBM to launch a new electronic coupon system throughout its 320 German stores. This first-of-a-kind digital coupon system, developed with IBM Research scientists, enables consumers to use their mobile phones to find and redeem e-coupons as they shop in stores. It delivers a convenient and personalized service to shoppers, even if they left their paper coupons at home.

New York -- Carrefour SA said Friday it will sell its Greek supermarket business to its local partner and exit the country, the Wall Street Journal reported.

The French retailer said it would sell its 50% stake in the chain to its local partner, the Marinopoulos family, for an undisclosed amount and will take a mostly noncash charge of €220 million ($277.9 million), the report said.

Carrefour’s announcement comes two days before elections that could prove key as to whether Greece decides to stays in the euro zone.

Paris -- Carrefour, the second largest retailer in the world after Wal-Mart Stores, has selected French retailing veteran Georges Plassat, 62, as its next CEO and chairman.

Paris -- A Tuesday report by the Wall Street Journal said that French retailer Carrefour SA has sold 97 supermarket sites to an investment company for $477 million.

Carrefour, the world’s second-largest retailer after Wal-Mart Stores, will continue to operate the sites through 12-year leases under its Carrefour Markets banner. The company said the sales and lease-backs will allow it to optimize the use of its capital, which will be reinvested into other real estate.

Paris -- The Carrefour SA board of directors on Tuesday approved a plan for its CEO Lars Olofsson to also assume the role of chairman. According to a report by the Wall Street Journal, Olofsson will take over as current chairman Amaury de Seze announced Tuesday that he would step down.

"The time has come to reunite the two functions," De Seze said. He will remain on Carrefour's board.

Beijing -- China said Wednesday it is fining Wal-Mart and Carrefour stores up to $75,900 for overpricing, expressing concerns about price inflation ahead of the impending Lunar New Year holiday.

A statement posted Wednesday on the National Development and Reform Commission website listed about a dozen stores across the country that engaged in overpricing, noting high charges on items ranging from underwear to dumpling powder.

Paris ( July 15, 2010 ) Carrefour SA, the world’s second-largest retailer behind Wal-Mart Stores, said Thursday that its revenue increased 6.3% in the second quarter.

The French retailer credited growth in Latin America and Asia for the strong performance.