Carrefour (CARR.PA) will have to to defend the spin-off of its discount chain Dia when it meets investors on Tuesday, who will also want answers about leadership at Europe's biggest retailer after the departure of of the boss of its key French business. Carrefour, the world's second-biggest retailer by sales behind US group Wal-Mart Stores Inc (WMT.N), earlier this month fired James McCann whose mission was to revive flagging sales at its domestic business, which has been underperforming for years. Investors will also want to know reasons for Carrefour's decision to delay a controversial property listing, that has fuelled talk of boardroom division. "Recent events at Carrefour, including a series of profit warnings, accounting issues in Brazil, executive departures, and a U-turn on plans to partially spin off property assets, raise several critical questions about strategy, management and governance," BernsteinResearch analysts said in a note.
Wal-Mart Stores, Inc. (Walmart) operates retail stores. Shares of WMT traded higher by 0.61% or $0.34/share to $56.06. In the past year, the shares have traded as low as $47.77 and as high as $57.90. On average, 11534900 shares of WMT exchange hands on a given day and today's volume is recorded at 14178783.
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