EU retailers want one-step changeover to euro
Article Abstract:
It has been estimated the cost of introducing the single European currency, for retailers in Europe, would be up to 2.6% of their yearly turnover. Carrefour Head Daniel Bernard has requested the European Union should award retailers funding to help defer the cost of the change in currency. Some observers have suggested changing to the euro should occur very rapidly, in order to reduce costs by around 50%. It has been also been suggested the introduction of the euro should happen in February 2002, rather than on Jan. 1, 2002.
Publication Name: Eurofood
Subject: Food and beverage industries
ISSN: 0955-5405
Year: 1997
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Retailers to be at the sharp end of euro changeover
Article Abstract:
A seminar for the retail industry concluded that retailers will have an important role to play in educating shoppers about the euro currency when it is introduced in 2002. The change to euros will be easier if retailers can talk to shoppers and explain what is happening. It is important that prices are calculated correctly when they are converted into euros. Products are still likely to cost more in some countries than others because of local VAT rates, even though they will all have prices given in euros.
Publication Name: Eurofood
Subject: Food and beverage industries
ISSN: 0955-5405
Year: 1998
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French VAT rise will not be absorbed by retailers
Article Abstract:
The retail sector in France has criticised plans by the French government to raise the rate of value-added tax (VAT), claiming it will be difficult to absorb the increase. Carrefour expects the increase to be passed on to the customer by 4th qtr 1995, and Auchan expects higher prices to follow the VAT rise. Casino plans to share the cost of the increase with its suppliers.
Publication Name: Eurofood
Subject: Food and beverage industries
ISSN: 0955-5405
Year: 1995
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