PARIS -- Promodes, one of the leading French retail groups, has laid out its challenge for the future -- to keep pace with fast-growing competitors. Paul-Louis Halley, chairman, said at the recent annual meeting here that Promodes wants to keep pace with other retailing groups while simultaneously increasing its profitability. "The thinking used to be that you had to grow to your maximum size," Halley told shareholders. This is no longer a valid strategy, he said. "Now we are calling ...

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