date:Aug 30, 2013
percent of sales, Sivignon said.
Many will say 'if they can fix France then they can fix Italy' and thereby not worry too much about the decline in profitability at this business unit, the Citi analysts said.
Many retailers across Europe are struggling as consumers' disposable incomes are squeezed by rising prices, muted wages growth and government spending cuts.
However, Dutch grocer Ahold (AHLN.AS) beat forecasts for quarterly operating profit last week as cost cuts and market-share gains