Carrefour Said To Be Looking For Portugal Exit

French newspaper Le Figaro has reported that mass grocery retail giant Carrefour is planning to sell its Mimipreco discount network in Portugal. The Minipreco chain consists of 524 outlets and generated revenues of EUR915mn in 2009. Sales at the chain declined by 0.9% during 2009 while like-for-like sales retreated by 6.8%. Carrefour sold off its Portuguese hypermarket operations in 2007 and the move would fit with its current strategy of focusing on core and fastest growing

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