Carrefour:

AnOverview

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ContentsOverviewBackgroundOperationsSalesByFormatCarrefourByCountrySalesBreakdownByRegion,2002SalesBreakdownByCountry,2002LatestMajorDevelopmentsCarrefourInContextLeadingGlobalRetailers’Spread,2002AnalysisByCountryProspectsAndStrategySWOTAnalysisOverviewMainaddress:CarrefourS.A.,BP419-16,75769ParisCédex16AvenueRaymondPoincaré,Paris75116,France701900708616Website:carrefourCarrefouristheworld’ssecondlargestretailerintermsofsales.Trulyglobalplayerwithoperationsinover30countries.Majorformatsarehypermarkets,supermarketsanddiscountstores.Wellknownforenteringandadaptingtoemergingmarkets.Groupturnover(2002):EUR85.6billionTotalnumberofstores(includingfranchises):10,673

BackgroundCarrefourSAwasfirstlistedontheFrenchstockmarketin1970.FirstopeningstoresinFranceduringthe1960s,CarrefourwentontoopenthefirsthypermarketsinFranceandEurope.FirststartedexpandingintotherestofEuropeintheearly1970sand1970s.AtthesametimetheEDdiscountformatwasintroduced.TheCarrefourown-labelwasintroducedin1985.Thefirstnon-EuropeanstorewasopenedinBrazilin1975.Carrefour'sfirstAsianstoreopenedinTaiwanin1989.CarrefourannounceditsintentiontomergewithPromodèsattheendofAugust1999withthemergerapprovedinJanuary2000.TheCarrefournamewasretainedwiththemajorityofPromodèsstoresrebranded.ThemergerpushesCarrefourtosecondplaceinglobalretailing.OperationsCarrefouroperatesadiverseportfolioofformats,includinghypermarkets,supermarkets,discountstores,cash&carries,c-storesandanumberofneighbourhoodstoreformatsforindependentretailers.Pioneerofhypermarketformat.AllhypermarketstradeundertheCarrefourbannerworldwide.Withtheopportunitiesforhypermarketopeningsindevelopedmarketsslowing,Carrefour’sstrategyistousetheformattoestablishitselfinemergingmarketsaroundtheworld.Supermarketstradeunderavarietyoffascias,althoughChampionisthemostimportant.DiscountstoresareoperatedbyDia.DiaisnowseenasakeybrandforCarrefour’sfuturegrowth.GiventhesuccessoftheDiaformatwithitshighprofitabilitylevels,itisnotsurprisingthatCarrefourisplacingmoreemphasisonthediscountbannerinordertogrowinternationally–especiallyinSouthAmericaandAsia.Thestrategyistoestablishallthesemajorformats(hypermarkets,supermarketsanddiscountstores)inallcountries.SalesByFormat,2002

BelgiumFormats: Hypermarkets,supermarkets,c-storesNo.ofstores: 4842002retailsales: €5.3billionCzechRepublicFormats: HypermarketsNo.ofstores: 82002retailsales: €0.3billion

PortugalFormats: Hypermarkets,discountstoresNo.ofstores: 3462002retailsales: €0.9billionRomaniaFormats: HypermarketsNo.ofstores: 12002retailsales: €0.1billion

SlovakiaFormats: HypermarketsNo.ofstores: 42002retailsales: €0.1billionSpainFormat: Hypermarkets,supermarkets,discountstores,cash&carriesNo.ofstores: 2,8022002retailsales: €11.7billion

SwitzerlandFormats: HypermarketsNo.ofstores: 112002retailsales: €0.6billion

FranceFormats: Hypermarkets,supermarkets,discountstores,c-stores,cash&carries,independentretailers,forecourtstoresNo.ofstores: 4,5302002retailsales: €45.2billion

GreeceFormats: Hypermarkets,supermarkets,discountstoresNo.ofstores: 4142002retailsales: €1.4billionItalyFormats: Hypermarkets,supermarkets,c-stores, cash&carriesNo.ofstores: 9462002retailsales: €6.3billionPolandFormats: Hypermarkets,supermarketsNo.ofstores: 762002retailsales: €0.8billionCarrefourbyCountry:AsiaPacific

ArgentinaFormats: Discountstores,hypermarkets,supermarketsNo.ofstores: 4512002retailsales: €1.5billion

BrazilFormats: Hypermarkets,supermarkets,c-storesNo.ofstores: 2672002retailsales: €3.7billion

ChileFormats: HypermarketsNo.ofstores: 42002retailsales: €0.1billionColombiaFormats: HypermarketsNo.ofstores: 82002retailsales: €0.2billion

DominicanRepublicFormats: HypermarketsNo.ofstores: 12002retailsales: €0.1billionMexicoFormats: HypermarketsNo.ofstores: 212002retailsales: €0.8billionCarrefourbyCountry:SouthAmerica

ChinaFormats: Discountstores, hypermarketsNo.ofstores: 622002retailsales: €1.5billion

IndonesiaFormats: HypermarketsNo.ofstores: 92002retailsales: €0.2billionJapanFormats: HypermarketsNo.ofstores: 42002retailsales: €0.2billion

MalaysiaFormats: HypermarketsNo.ofstores: 62002retailsales: €0.3billion

SingaporeFormats: HypermarketsNo.ofstores: 12002retailsales: €0.1billionSouthKoreaFormats: HypermarketsNo.ofstores: 252002retailsales: €1.3billionTaiwanFormats: HypermarketsNo.ofstores: 282002retailsales: €1.4billionCarrefourbyCountry:AsiaPacific

EgyptFormats: HypermarketsNo.ofstores: 12002retailsales: naOmanFormats: HypermarketsNo.ofstores: 12002retailsales: €0.1billion

QatarFormats: HypermarketsNo.ofstores: 12002retailsales: €0.1billion

TunisiaFormats: HypermarketsNo.ofstores: 12002retailsales: €0.04billionTurkeyFormats: Hypermarkets,supermarkets,discountstoresNo.ofstores: 1342002retailsales: €4.4billion

UAEFormats: HypermarketsNo.ofstores: 82002retailsales: €0.5billionCarrefourbyCountry:Africa&MiddleEastCarrefour-SalesBreakdownByRegion,2002Carrefour-SalesBreakdownByCountry,2002LatestMajorDevelopments(1/2)January2003-Carrefourhasreportedaslipingrosssalesfor2002of1.6%toEUR76.78billion.Althoughcurrencyeffectsinemergingmarkets(devaluationsinBrazilandArgentinaandweakerAsiancurrencies)knockedsalesgrowthback,onaconstantcurrencybasissalesroseby4.5%.January2003–UnconfirmedreportssuggestCarrefouristoenterBulgaria.Thisfollowsonfromreportsthroughout2002thatthegroupisplanningentryintoRussiaandthePhilippines.December2002-OpeningofthefirstCarrefourhypermarketinEgyptbytheMajidAlFuttaimgroupwhichholdstheCarrefourfranchiseforcountriesintheMiddleEast.December2002–Carrefouracquiresthe20.3%stakenotalreadyownedinitsSpanishsubsidiary,CentrosercialesCarrefour.LatestMajorDevelopments(2/2)August2002–CEOBernardstressesthatCarrefourisnowingtotheendofthethreeyearprocessofmergingwithPromodèsstating"Thesynergiesfromthatareinplace,buttherearestillmoretoe,particularlyinlogistics.That'safivetosixyearprocess."May2002-Carrefouracquires12outletsfromthefailedMetrosupermarketchaininArgentina.February2002–CarrefourconfirmsthatitdoesindeedplantoopendiscountstoresinChinaundertheDiabanneraspreviouslyrumoured.ThefirstopeningisscheduledforShanghaiin2003.AlthoughitistooearlytosayhowmanyDiastoresthepanywillopeninChina,Carrefourbelievesthatthepotentialmarketisenormous.

CarrefourInContextWal-Mart– EUR255.1billion.Carrefour– EUR87.2billion.Ahold– EUR75.4billion.Kroger– EUR58.9billion.Ito-Yokado– EUR57.7billion.MetroGroup– EUR56.1billion.Target– EUR46.9billion.Albertsons– EUR44.6billion.Kmart– EUR42.5billion.Tesco– EUR41.3billion.

Leadingglobalgrocery/GMretailersintermsofsales,2002:CarrefourInContextCarrefour– 31countries.Ahold– 26countries.- MetroGroup– 26countries.4. Ito-Yokado– 13countries.- Tesco– 13countries.

Wal-Mart– 11countries.Kroger– 1country.- Target– 1country.- Albertsons– 1country- Kmart– 1country.Leadingglobalgrocery/GMretailersintermsofcountriesofoperation,2002:CarrefourInContext

Ito-Yokado– 23,772stores(5,562,448m2).Carrefour– 10,673stores(12,071,981m2).Ahold– 9,276stores(9,766,550m2).Wal-Mart– 5,080stores(49,632,668m2).Kroger– 3,668stores(11,659,343m2).MetroGroup– 2,393stores(11,125,900m2).Albertsons– 2,285stores(9,099,890m2).Tesco– 2,276stores(4,284,561m2).Kmart– 1,620stores(12,524,500m2).Target– 1,476stores(15,758,730m2).Leadingglobalgrocery/GMretailersintermsofnumberofstores,2002:LeadingGlobalRetailers’Spread,2002CountryArgentinaAustriaBelgiumBulgariaBrazilCanadaChileChinaColombiaCostaRicaCroatiaCzechRepDenmarkDominicanRepublicEcuadorEgyptElSalvadorEstoniaFranceGermanyCarrefour45148426746288114,530Wal-Mart11222012595Ahold2451427896209211216Tesco171Metro412381811041171,791…continuednextpageNumberofstoresbycountryLeadingGlobalRetailers’Spread,2002CountryGreeceGuatemalaHondurasHungaryIndonesiaItalyJapanLatviaLithuaniaLuxembourgMalaysiaMexicoMoroccoNetherlandsNicaraguaNorwayOmanParaguayPeruPhilippinesCarrefour414994646211Wal-Mart405595Ahold9827213338412,280201,1731239Tesco523MetrcontinuednextpageNumberofstoresbycountryLeadingGlobalRetailers’GlobalSpread,2002CountryPuertoRicoPolandPortugalQatarRepublicofIrelandRomaniaRussiaSingaporeSlovakiaSouthKoreaSpainSwedenSwitzerlandTaiwanThailandTunisiaTurkeyUAEUKUSAVietnamCarrefour763461114252,80211281711348Wal-Mart54122593,401Ahold179126942,127511,628Tesco777717203491,975Metro81101666361523292NumberofstoresbycountryEurope

AnalysisByCountry:Belgium

Carrefour’sstatus: LeaderMainpetitors(s): Delhaize,Colruyt,CoraStrengthsMarketleader.Operationsspanawidevarietyofformats/fascias.Hypermarketsperformingwellinnon-foodranges.OpportunitiesDiscountstoredevelopment.Moreforecourtstores.Greatersynergiesbetweendifferentsupermarketchains.WeaknessesUnprofitablesinceacquisition.ConversionofhypermarketstoCarrefourbannerhasalienatedsomeshoppers.Labourrelationshavebeenproblematic.

ThreatsColruytsettoaddspacethroughLaurusdeal.AnalysisByCountry:CzechRepublic

Carrefour’sstatus: Number8

Mainpetitors(s): Ahold,Schwarz,ReweStrengthsCredibleeconomyranges.Adaptablehypermarketformat.Localbuyinginfrastructure.Impressivefoodandnon-foodoffer.OpportunitiesBegintocatchupindiscountstoreterms.Moresmallerformathypermarkets.Possiblewithdrawalsbyforeignplayerscouldprovideacquisitionopportunity.WeaknessesLaggingrivaloperatorsbyalargemargin.Perceivedastooupmarketbymanyshoppers.Haswatchedasotherplayershavestartedopeningdiscountunits.ThreatsFacedbystrongpetitionfromimpressiveinternationalrivals.Couldriskbeingseenasleisure/touristdestinationratherthanashoppingvenue.AnalysisByCountry:France

Carrefour’sstatus: LeaderMainpetitors(s): Leclerc,ITM,AuchanStrengthsOverwhelmingleader.Immensebrandawarenessandtrust.Multi-formatpresenceinallareasofcountry.Extensiveprivatelabellines.OpportunitiesDevelopmentofclothingsupplychainandranges.Supermarketanddiscountstoreopenings.Growthofc-store/forecourtstorebusiness.WeaknessesLostsightofqualityinrecentprice-ledskirmisheswithrivals.LostmarketsharetoLeclerc.DisappointingEmerce.Promodèsintegrationhasnotbeenseamless.ThreatsHeavypricepetition–especiallyfromGermandiscounters.Notmuchscopeforacquisitions.Planningsarerestrictive.Rivalsjoiningforces.Wal-MartevaluatingentryintoFrance.AnalysisByCountry:Greece

Carrefour’sstatus: LeaderMainpetitors(s): Delhaize,Sklavenitis,VeropoulosStrengthsNumberoneinthemarket.Jointventureandjointbrandingmeanthestoreshavea“l(fā)ocal”appeal.Activeinhypers,supersanddiscountstores.Franchisedealsmeanlowcostandlowrisk.OpportunitiesDevelopmentofclothingsupplychainandranges.Stillpotentialformanymorestores.Fairlyrelaxedpetitionscouldenablesizeableacquisitions.WeaknessesLowershareoflocallysourcedgoodsthaninothermarkets.Somecriticssuggestthatrebrandingofcertainoperationshasbeenrushedandconfusing.ThreatsSmallerrivalssuchasDelhaizeandAtlanticarefightinghardformarketshare.AnalysisByCountry:Italy

Carrefour’sstatus: Number3

Mainpetitors(s): CoopItalia,Conad,AuchanStrengthsReasonablehypermarketandsupermarketpresence.Effectivelyditchedfrozenfoodchain.Own-brandsandnon-foodrangesparewelltolargerdomesticrivals.OpportunitiesAcquisitions.CouldintroduceDiainthelongerterm.Convenienceformatisripeforexpansion.GrowthintounderdevelopedSouth.WeaknessesStoresappearquiteclinicalalongsidetheirItaliancounterparts.Over-concentrationinNorth-East.ThreatsConadandCopItaliaarestrongrivalswithimpressivemulti-formatoperations.AuchanispoisedforsustainedgrowthinItaly.Storeopeningsarebesetwithredtape.AnalysisByCountry:Poland

Carrefour’sstatus: Number5Mainpetitors(s): Auchan,JerónimoMartins,CasinoStrengthsDecentnetworkhypermarketsandsupermarkets.Hasbeenenjoyingencouragingparablesalesgrowth.OpportunitiesAmbitiousgrowthtargets.Discountstorescouldbelaunched.Shiftawayfromprice-ledtoquality-ledpetition?Introductionofown-brands.WeaknessesLackofprivatelabeloffer.HasbeenslowtoconverttheGlobistoresinheritedfromGIB.SatbackasTescopickedupHit.ThreatsUpagainstsomeofEurope’sfinestgrocers.Viablehypermarketlocationsareincreasinglythinontheground.Growingpetitioninnon-foodareasfromspecialistchains.AnalysisByCountry:Portugal

Carrefour’sstatus: Number3Mainpetitors(s): ModeloContinente,JerónimoMartins,AuchanStrengthsStrongdualpresencethroughhypersanddiscountstores.Discountstoreshavebeenperformingverywell.Ownbrandssellingwellinfoodandnon-food.OpportunitiesMainstreamsupermarketscouldbeunveiled.WeaknessesHypermarketopeningshavebeenslowerthanhoped.StrategyhasoccasionalappearedfuzzyinPortugal.ConflictwithModeloContinente.ThreatsOngoingargumentswithModeloContinenteappeartobeacounterproductivedistraction.Lidlwantstochallengeindiscounting.AnalysisByCountry:Romania

Carrefour’sstatus: Number3Mainpetitors(s): Rewe,Delhaize,CoraStrengthsFirstmoverstatusamongWestEuropeanhypermarketoperators.Hasusedalow-riskfranchisedroutetomarket.prehensivearrayofRomanianproduce.OpportunitiesCouldexpandintootherformats.Furtherlinkswithlocalsuppliers.WeaknessesHaslaggedotherplayersintermsofdiscountstoreopening.ThreatsIncreasingpetitionforwhatstillamountstoasmallmarket.UnclearifRomanianconsumereconomywillsupportmanymorehypermarkets.AnalysisByCountry:Slovakia

Carrefour’sstatus: Number5Mainpetitors(s): Tesco,Rewe,PrimaZdrodjStrengthsTheCarrefourhypermarketformatisanimpressiveandpopularoneinSlovakia.Decentprivatelabeloffering.OpportunitiesOpeningofmorehypermarkets.Diversificationintodiscounting–lackofstrongpetitioninthissub-sectorofthemarket.WeaknessesStalledonfourstoresforacoupleofyears.Tescoappearstobebuildinganunassailablelead.ThreatsOvertakenbymoreplayersasgrowthplansfalter.Carrefourstorescouldbeofinteresttoamoreaggressivepredator.AnalysisByCountry:Spain

Carrefour’sstatus: LeaderMainpetitors(s): Eroski,Mercadona,ECIStrengthsDominantmarketleader.Credibleown-brandstrategyandperformance.Vastdiscountstorenetwork.OpportunitiesMorenewstoresacrossallbanners.Potentialforsmallregionalacquisitions.WeaknessesPooremerceperformance.TransformationfromContinentetoCarrefourlackedfinesseandsensitivitytowardsContinenteshoppers.ChampionlessimpressivethanCarrefourandDia.ElCorteInglésstillleadsthewayinfreshfoodmerchandising.ThreatsAldi,LidlandTengelmannarechasingdiscountmarketshare.Spanishfoodretailersarenotpushovers–thelikesofCaprabo,EroskiandMercadonaarefightingback.AnalysisByCountry:Switzerland

Carrefour’sstatus: Number5Mainpetitors(s): Migros,CoopSchweiz,BonappetitStrengthsOneofthecountry’sleadinghypermarketoperators.Foreignpioneerinonceprotectiveandlowpetitionmarket.FormedstrongJVwithlocalpartner–instantexpertise.Muchwiderproductrangesthanrivals.OpportunitiesNewstores.Couldpickupsomesmalleroperators.Discountstorescouldbeanoption.WeaknessesOutbidforWaro.StoreconversionsangeredsomeJumboshoppers.Again,itsgrowthtargetsappearover-ambitious.ThreatsCrowdedmarketruledbytwopowerfulgiants.Switzerlandisafairlysmallmarket–scopeforhypermarketdevelopmentispatchyatbest.SouthAmerica

AnalysisByCountry:Argentina

Carrefour’sstatus: LeaderMainpetitors(s): Ahold,Coto,Cencosud

StrengthsMarketleader.Multi-formatapproach.Discountformulahasappealedintimesofcrisis.Hypermarketsperformingwellinnon-foodranges.OpportunitiesGeographicexpansion.Potentialacquisitions(Ekiinparticular).Increaseprivate-labelpenetration.WeaknessesOver-concentratedintheGreaterBuenosAiresregion.Weakown-brandsalesinNortesupermarkets.ThreatsEconomic/politicaluncertainty.Wal-Martlookingforfurthergrowth.

AnalysisByCountry:Brazil

Carrefour’sstatus: Number2Mainpetitors(s): Casino,Sendas,ModeloContinenteStrengthsHypermarketleader.SuccessfullaunchofDia.Highparticipationofown-labelinturnover.Impressiveclothingsales.OpportunitiesMorediscountstoredevelopment.GrowthinSaoPaulo.WeaknessesMissedopportunitytoacquireSésupermarketchain.Limitedgeographicalspread.ThreatsConsolidationofleadershipbyCasino.Wal-Martgearingupforgrowthpush.AnalysisByCountry:Chile

Carrefour’sstatus: Number5Mainpetitors(s): D&S,Ahold,Cencosud

StrengthsImpressivehypermarketoperation.Strongplayerinnon-foods.Goodmixoflocalandinternationalproducts.

OpportunitiesSupermarketopenings/acquisitions.Discountstoredebut?Moreown-labelranges.

WeaknessesGrowthratehasbeenfairlylaborious.EntirelyreliantonSantiagoasitsmarket.ThreatsSeemstobelaggingmainpetitorsingrowthterms.mitmenttoChileanmarketandCarrefour’splansbothappearuncertain.

AnalysisByCountry:ColombiaCarrefour’sstatus: Number4

Mainpetitors(s): Casino,CarrullaVivero,OlimpicaStrengthsVerypricepetitiveparedtorivals.Relativelylargestoreswithbroadnon-foodlines.Storeopeningsareprogressingwell.Highproportionoflocallysourcedproducts.OpportunitiesOrganicsupermarketanddiscountstoregrowth.TakeoverofCarullaVivero.ExpansionbeyondMedellinandBogota.WeaknessesDwarfedbypatriotCasino.Own-brandsrelativelyunderdeveloped.Hasmissedoutonsignificanttakeovers.ThreatsSomeoneelsetakesover

CarullaVivero.AnalysisByCountry:DominicanRepublic

Carrefour’sstatus: N/aMainpetitors(s): N/aStrengthsLackofdecentpetition.Excellentstorelocationinmodernshoppingcentre.OpportunitiesWeaknessesSlowingsalesperformance.ThreatsEconomicstagnation.Marketexit?AnalysisByCountry:Mexico

Carrefour’sstatus: Number6

Mainpetitors(s): Wal-Mart,erci,SorianaStrengthsHigherqualityofretailingparetorivals.Largeaveragestoresizeenableswiderranges.Goodmixoflocal/nationalbrands.OpportunitiesAcquisitionoflargerand/orsmallerplayers.DiscountstoreswouldbewellreceivedbyMexicanshoppers.WeaknessesStuckwithlimitedstorebaseforseveralyears.Perceivedasexpensive.MissedoutontakingoverAuchan’sstores.ThreatsAll-conqueringWal-Martistakingoverthemarket.SmallernicheplayerssuchasGiganteandH.E.Buttarecateringforthehigherendofthemarket.Asia-PacificAnalysisByCountry:China

Carrefour’sstatus: Number5Mainpetitors(s): CRE,DairyFarm,ASWatson,ShanghaiLianhuaStrengthsOneofthefirstWesternentrants.Regardedasmostsuccessfulforeignoperators.Hasbeenadaptableinfaceofchanginggovernmentpolicies.Formatandproductmixhavebeenmodifiedwelltomeetlocaldemands.OpportunitiesSupermarketanddiscountstoredevelopment.Amassivepotentialmarket.Higherown-labelpenetration.WeaknessesHasappearedignorantoflocalplannings.Stillaweakshowingfromown-brandedgoods.ThreatsDearthoflocalmanagers.LocalplayershaveconsolidatedtofendoffthelikesofCarrefour.Policychangesbycentral/localgovernments.Wal-MartandTescoetclookingtopete.AnalysisByCountry:Indonesia

Carrefour’sstatus: Number3Mainpetitors(s): Delhaize,DairyFarm,AlfaRetailindoStrengthsLeadinghypermarketoperatorinthecountry.Isabletomixlocalproductswithsought-afterinternationalbrands.Isabletoappealtomoreaffluentlocalconsumers.OpportunitiesLongtermscopefordiscountchain.Thereareseveralpotentialtakeovertargetsinthesupermarketsector.WeaknessesLackofdefiniteexpansiontimetable.Over-reliantonexportedFrenchmanagement.ThreatsGeneralpoliticalinstability.Carrefourhasbeenspecificallytargetedbyviolentactivists.AnalysisByCountry:Japan

Carrefour’sstatus: Number11

Mainpetitors(s): Aeon,Daiei,UnyStrengthsNon-foodranges.Innovativemerchandising.

OpportunitiesAcquisitions/partnerships.WeaknessesHasfailedtomeetopeningtargets.HasnoteffectivelytargetedJapaneseshoppers.Lackoflocalisedsourcing.ThreatsNewstoresitesarehardtoeby.Wal-MartistakingcontrolofSeiyu.Difficultdeflationaryeconomy.Marketexit?AnalysisByCountry:Malaysia

Carrefour’sstatus: Number4

Mainpetitors(s): DairyFarm,Aeon,StoreCorporationStrengthsNon-foodranges.Innovativemerchandising.OpportunitiesBuyinguporleasingexistingproperties.Implementationofprivatelabelprogramme.WeaknessesSlowprogressinopeningunits.Own-brandsyettobeintroducedonanyrealscale.Lackoflocalisedsourcing.ThreatsRobustlocalandinternationalpetitors.Increasinglyprotectionistgovernment.AnalysisByCountry:Singapore

Carrefour’sstatus: Number7Mainpetitors(s): NTUCFairprice,DairyFarm,DelhaizeStrengthsOperationsarenowprofitable.Attractivehypermarketwithtypicallyhighmerchandisingstandards.OpportunitiesOpeningofsmallerstores.Acquisitionsof/partnershipswithlocalbusinesses.Weaknessesprehensivefailuretomeetinitialgrowthtargetsofsixyearsago.Hasremainedstalledonasinglestore.ThreatsShortageofsuitablelandanddevelopmentsites.Marketexit?AnalysisByCountry:SouthKorea

Carrefour’sstatus: Number3Mainpetitors(s): Nongshima,Shinsegae,LotteStrengthsSophisticatedhypermarketformatthatpareswellwithindigenousstores.Hasachievedrapidexpansion.OpportunitiesContinuedstoreopening.Discount-focusedrivalssuggestthepossibilityofanupmarketsupermarketoperationinlargercities–launchofChampion?WeaknessesOccasionallegalbrinkmanship.Hasfailedtoexertadamagingimpactonlocalpetitors.ThreatsWal-Martanddomesticpetitorswillprovideastiffchallenge.Economicproblemscouldcauseaflighttovalueretailers.AnalysisByCountry:Taiwan

Carrefour’sstatus: Number2Mainpetitors(s): Ito-Yokado,Auchan,CasinoStrengthsLeadinghypermarketbusinessinTaiwan.Hastailoreditsofferwell.OpportunitiesOpeningschedulelooksbothoptimisticandachievable.Couldpickupsomesmalleroperators.Discountstorescouldbeanoption.WeaknessesHaslostoutonsomepotentialsitestoAuchan.ThreatsCasinoandAuchanwillbechallengingforlocations.AnalysisByCountry:Thailand

Carrefour’sstatus: Number4Mainpetitors(s): Tesco,Casino,Ito-YokadoStrengthsLargestores,widerangesanddistinctiveCarrefourpanache.Localgoodshaveencouragedlocalappeal.OpportunitiesGeographicexpansion.Supermarketanddiscountstoredevelopmentinthefaceofstronghypermarketpetition.WeaknessesOverreliantonBangkokmarket.SeemstohaveletCasinoandTescosetthepace.ThreatsThaigovernmentisappearingmuchlessfriendlytolargeforeignretailers.Africa&MiddleEast

AnalysisByCountry:Egypt

Carrefour’sstatus: N/a

Mainpetitors(s): Metro(Egypt),RagabSons,AlfaMarketStrengthsCouldeasilybemarketleaderwithasinglestore.Egypt’sonlytruehypermarketoperator.Franchisedealisfasttracktolocalknowledge.OpportunitiesEgyptwouldbereceptivetoDiaandChampion.Upto15hypermarketscouldbetrading.Acquisitions/jointventures.WeaknessesHastakenlongerthanexpectedtoopenfirststore.ThreatsSainsbury’sexitdemonstratesacertainlocalwarinessofforeignretailers.Egyptisadifficulteconomic,politicalandsocialenvironment.AnalysisByCountry:Oman

Carrefour’sstatus: Number1(tbc)Mainpetitors(s): VariousStrengthsMarketleaderinmoderndistribution.Onlyhypermarketoperatorinthecountry.Haslocalpartnerwithlocalknowledge.OpportunitiesOneortwomorehypermarkets.Launchofsupermarkets.WeaknessesLong-windedprocessbetweenplanningandopeningofstore.

ThreatsVerylimitedscopeforfurtherstores.AnalysisByCountry:Qatar

Carrefour’sstatus: LeaderMainpetitors(s): VariousStrengthsOnlyhypermarketoperatorinthecountry.Hasprovenpopularwithlocalsandinternationalshoppersalike.Runbylocalfranchisepartnerwhoknowsmarket.OpportunitiesDevelopmentofadditionalproducts/services.WeaknessesHasyettofullyadapttolocalmarketconditions.ThreatsExtremelylimitedpotentialformorestores.AnalysisByCountry:Tunisia

Carrefour’sstatus: Number1Mainpetitors(s): Casino,Touta,MagroStrengthsMarketleader.BravemarketentrysupportedbyJVpartner.Highqualitystorewithsizeablecustomerbase.OpportunitiesBroadeningofstore’sappealthroughexpandedproduct/serviceranges.WeaknessesDemandlargelydependentonTunis.ThreatsMarketmaynotbeabletosupportmanymoreoutlets.AnalysisByCountry:Turkey

Carrefour’sstatus: Number3Mainpetitors(s): MigrosTürk,Bim,TansasStrengthsRapidlydevelopingthreedistinctformats.JVpartnercanoffersignificantfinancialbackingaswellasmarketintelligence.CanofferWestern-stylegoodstoappealtoyoungerTurkish