French retailer Carrefour has announced that it is to replace the head of its French hypermarket unit, after the division again delivered weak sales for the latest financial quarter. Like-for-like sales (including petrol) at the unit fell by 8% in Q3 while like-for-like sales at its French supermarket division increased by 1%. With the division accounting for 22% of the company's total sales, CEO Lars Olofsson has made a turnaround of this unit a priority as he looks to restore investor confidence, which has been in steady declining over the last year (see chart). However, the latest sales figures underline
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