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CARREFOUR

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Carrefour : fined 1.75 mln euros for unfairly squeezing suppliers on price

03/12/2021 | 05:19am EDT

PARIS, March 12 (Reuters) - French retailer Carrefour has been fined 1.75 million euros ($2.1 million) for unfairly pressing suppliers for discounts during annual contract negotiations, the finance ministry said in Friday.

The ruling by the Paris Commerce Court follows a probe by anti-trust authorities into Carrefour's practices during its 2016 negotiations with suppliers, the statement said.

The investigation found that Carrefour had forced suppliers to give discounts as a pre-condition to entering annual price negotiations.

The court ordered Carrefour to stop what it called "practices that restrict competition" and requested the provisional execution of the fine.

Carrefour said it had put an end to the incriminated practices since February 2016 and would not appeal.

"The court did not reject the principle of seeking a discount but considered the discount was not sufficiently justified in its application," a Carrefour spokeswoman said.

($1 = 0.8394 euros) (Reporting by Dominique Vidalon; Editing by Alex Richardson and Jan Harvey)


ę Reuters 2021
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Financials
Sales 2021 71 452 M 84 390 M 84 390 M
Net income 2021 1 003 M 1 184 M 1 184 M
Net Debt 2021 7 139 M 8 432 M 8 432 M
P/E ratio 2021 13,1x
Yield 2021 3,37%
Capitalization 12 886 M 15 219 M 15 220 M
EV / Sales 2021 0,28x
EV / Sales 2022 0,27x
Nbr of Employees 278 511
Free-Float 75,0%
Chart CARREFOUR
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Carrefour Technical Analysis Chart | CA | FR0000120172 | MarketScreener
Technical analysis trends CARREFOUR
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Last Close Price 15,95 €
Average target price 19,03 €
Spread / Average Target 19,3%
EPS Revisions
Managers and Directors
Alexandre Bompard Chairman & Chief Executive Officer
Matthieu Malige Chief Financial Officer
Miguel ┴ngel Gonzßlez Gisbert Global Chief Technology Officer
Charles Edelstenne Independent Director
Mathilde Lemoine Independent Director
Sector and Competitors
1st jan.Capi. (M$)
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SM INVESTMENTS CORPORATION-9.91%24 699
COLES GROUP LIMITED-2.65%17 061