Shares in Carrefour rose following the European supermarket retailer’s agreement to buy 17% online fashion retailer Showroomprive.com for £70.4m, from Steinhoff-owned furniture chain Conforama.
The company’s shares were up 0.3% in early morning trading, outperforming the broader European retail sector.
Alexandre Bompard, who took over last July as CEO of Carrefour is scheduled to unveil his strategy for the group later this month.
He is under pressure from investors to boost the performance of the group’s France-based hypermarkets, something that has undone many of his predecessors.
Stiff online competition and heavy price discounting from rivals such as Leclerc have made life difficult.
Bompard is challenged with boosting the company’s digital and online businesses, which is Showroomprive.com deal comes in.
It has not been an easy year for Carrefour, the company saw profits crash over the first six months of 2017amid a large drop in recurring operating income and a growing debt pile.
In August, the company reported that its net debt load had increased by €353m to €7.72bn. Significant losses in Argentina and charges from integrating acquisitions were cited as contributory factors.
The board stressed at the time of the need to adapt to "rapid and far-reaching" evolutions within the industry. All eyes will be on Bompard’s proposed strategy outline to be revealed in a few weeks’ time.