Việt Nam News

HÀ NỘI — French supermarket group Auchan Retail had decided to sell 18 loss-making stores in Việt Nam, vietnamplus.vn cited CEO Edgar Bonte as saying.

Those outlets generated 45 million euros (US$50.4 million) in revenue in 2018 but still suffered losses.
The French group entered Việt Nam in 2015 and has developed a total of 21 stores in the country. After the closure of three outlets, it now has 18 left, 13 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 1,600 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 1.1 billion euros in 2018. The overall turnover was down 3.2 per cent at 50.99 billion euros. — VNS

Real estate overhaul can cool off prices

Economy

Large cities enter new growth cycle in real estate market

Economy

Foreign investors call for deeper reforms to sustain HCM City growth

Economy

Affordable housing needs careful design

Economy

Government moves to cool soaring housing prices

Economy

Autumn Fair showcases strength of local brands

More on this story

Economy

Korean threat actor creates malware to identify connected Bluetooth devices

ScarCruft, a Korean-speaking threat actor, has tested and created new tools and techniques, and extended both the range and volume of information collected from victims.

Economy

Mitsui & Co to invest in Vietnamese shrimp producer Minh Phú

Mitsui & Co Ltd has agreed to acquire a 35.1 per cent of stake in Minh Phú Seafood Joint Stock Company, the world’s biggest shrimp integrator from farming and processing to sales.

Economy

Investors still waiting for new rental prices at Saigon High-Tech Park

Dozens of businesses that want to invest in Saigon High-Tech Park (SHTP) in District 9 have not received approval because the city has yet to announce new land rental prices for public land.

Economy

Hà Giang beef receives geographical indication

The geographical indication for Hà Giang beef covers beef produced in six districts -- Đồng Văn, Mèo Vạc, Yên Minh, Quản Bạ, Hoàng Su Phì and Xín Mần.

Economy

Khang Điền House to issue 130 million shares for dividend and bonus payments

Khang Điền House Trading and Investment JSC (HoSE: KDH) plans to issue 130 million bonus shares for dividend payments and employee stock ownership plan (ESOP) distribution.

Economy

Trường Thành Furniture to acquire ceramics firm to raise capital

Trường Thành Furniture Corporation (HoSE: TTF) would acquire Thiên Thanh Sanitaryware JSC on Tuesday to avoid the risk of cumulative losses outpacing charter capital, cafef.vn reported.

Economy

Market to face difficulties while VN-Index approaching 980 points

The Vietnamese market is expected to move modestly this week as VN-Index approaches its difficult resistance level of 980 points, analysts said.

Economy

Abivin crowns start-up world cup champions

Vietnamese logistics application service provider Abivin beat rivals from 40 countries to win the Start-up World Cup 2019 on Friday (local time) in the United States.

Economy

Banks to issue chip cards in place of 21 million magnetic strip cards

Seven banks will start issuing ATM chip cards that meet EMV standards to replace magnetic strip cards in collaboration with the National Payment Corporation of Việt Nam starting from May 28.