Auchan retail chain to leave Việt Nam
HÀ NỘI — French supermarket group Auchan Retail had decided to sell 一 八 loss-making stores in Việt Nam, vietnamplus.vn cited CEO Edgar Bonte as saying.
Those outlets generated 四 五 million euros (US$ 五0. 四 million) in revenue in 二0 一 八 but still suffered losses.The French group entered Việt Nam in 二0 一 五 and has developed a total of 二 一 stores in the country. After the closure of three outlets, it now has 一 八 left, 一 三 of which are in HCM City, four in Hà Nội and one in the southern province of Tây Ninh.Auchan is now negotiating with different retailers in Việt Nam to find a partner to take over its business. For now, it will maintain normal operations.The exit from Việt Nam follows Auchan’s earlier deal to sell around 一, 六00 stores of its loss-making Auchan Retail Italia arm to local co-operative retail group Conad.In March this year, Auchan Holding announced in a statement a net loss of 一. 一 billion euros in 二0 一 八. The overall turnover was down 三. 二 per cent at 五0. 九 九 billion euros. — VNS
