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Carrefour to Close Stores in India

The retailers will shut its five cash & carry stores by the end of September.

PARIS — Carrefour SA said Monday it would close its five cash & carry stores in India, effective at the end of September.
 
“Until that time, the company will continue to be fully engaged with all its employees, suppliers, partners and customers to ensure a smooth transition,” the retailer said. Carrefour, the world’s second-largest retailer behind Wal-Mart  Stores Inc., has been represented in India since 2010.
 
Under chief executive officer Georges Plassat since mid-2012, the retailer has been shedding its operations in countries where it does not have a leadership position or a reasonable prospect of achieving sizeable market share.