Mar 23, 2023

March 23, 2023 6:15 AM Share this article French supermarket retailer Carrefour has agreed to extend chairman and CEO Alexandre Bompard 's term for another three years, through to its 2026 annual shareholder meeting, it said on Wednesday. Bompard will continue working on executing Carrefour's 2026 strategic plan , which entails generating free cash flow of more than €1.7 billion ($1.8 billion) by 2026, he said in a statement. Last month  Carrefour expressed confidence over its 2023 financial outlook as it reported record free cash flow of €1.26 billion and another rise in full-year operating profit despite high inflation. Potager City Store Launch Recently, the French retailer opened its first two  Potager City  stores in  Paris , which it says focus on 'high quality' fruit and vegetables at 'fair prices'. Seasonal fruit and vegetables accounting for a significant share of the store's range. This range is supplemented, depending on the store, with up to 170 SKUs from Omie & Cie, a company which promotes regenerative farming; around 40 wine SKUs in partnership with Le Petit Ballon; as well as around 230 fresh self-service products, such as cheese, dairy products, meats and ultra-fresh items. Elsewhere, the retailer has halted its plan of opening the first store of Brazilian cash-and-carry brand  Atacadão in Greater Paris. This decision follows a petition by the mayor of Sevran (Seine-Saint-Denis), a town of 50,000 inhabitants 18 km from Paris, against the rebranding of the existing Carrefour hypermarket as Atacadão. Carrefour acquired the Atacadão banner in Brazil for US$ 1.1 billion in 2007 and the cash-and-carry format already accounts for 70% of the group's revenues in Brazil. News by  Reuters , additional reporting by ESM – your source for the latest  retail  news. Click  subscribe  to sign up to ESM: European Supermarket Magazine. Tags