PARIS - Carrefour Group, the world's second largest retailer after Wal-Mart Stores Inc., reported a 1.2 percent increase in first-half net profits to 750 million euros, or $1.15 billion at average exchange rates, calling the results its best for the period since 2005. At a morning presentation, chief executive officer José Luis Duràn trumpeted the retailer’s “strong performance” in light of the “strained economy” and confirmed that Carrefour is on track to meet its full-year sales growth target of 7 percent at constant exchange rates. He noted food sales in French hypermarkets were “slightly improved” in July and August, although “spending is still weak.” “We are a solid, profitable group that is capable of living up to the challenge...We don’t count on the environment to improve, we count on ourselves,” he said.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)