VENEZUELA: Hugo Chavez has seized control of the Exito supermarket chain after he accused it of breaking the law by raising prices. The French-Colombian chain would pass into state hands and any other company raising prices would also risk nationalisation, he said.
"How much longer are we going to allow transnational companies to come here to speculate with our prices?" the leader said on television this week. According to reports, Chavez also suggested that Exito's stores could form part of the country's 'corporation of socialist markets', which sells goods and services at heavily subsidised prices.
RUSSIA: X5 Retail has reported like-for-like full-year sales up 10% to 275 billion roubles (£5.7bn). "X5 met its 25% revenue growth target for 2009 and delivered the highest like-for-like sales increases of any Russian retailer," said chief executive Lev Khasis.
"With many retailers weakened by the economic downturn, X5 responded aggressively to win customers with superior offerings and strengthen its leadership in all regions of operations. Fourth-quarter trading results were strong despite consumers trading down, thanks particularly to targeted New Year and Christmas promotions in December and a continued focus on price and assortment."
FRANCE: Carrefour chief executive Lars Olofsson has announced the creation of an executive board for the supermarket group, in a move designed to bolster its management structure. The board will develop the group's strategy, oversee the group's yearly plan and supervise overseas execution.
There are six executives on the new board: Olofsson, the chief financial officer, the chief commercial officer, the executive director of Europe, the executive director in charge of growth markets and the newly appointed executive director of France, James McCann, who was poached last week from Tesco. "The changes in our management organisation are a very positive sign for the group," said Olofsson.
USA: Delhaize has unveiled a new corporate structure for its American business that will give more responsibility to key executives. The chief executive of Food Lion stores, Rick Anicetti, will now oversee corporate affairs, finance, communications and IT for all stores.
The company said the process was part of a cost-reduction programme that would remove $450m (£276m) in costs over the next three years. Delhaize this week said it would close 16 underperforming stores.