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“To improve our economic performance, we have begun streamlining our store network: closing unprofitable stores, converting integrated sites to franchises, carefully selecting our new franchise partners and opening new stores with high potential,” recently appointed CEO Philippe Palazzi said in a statement. The probe was launched after the prosecutor’s office was alerted by France’s AMF market watchdog, a source had told Reuters.
In March last year, the national financial prosecutor first revealed details of the investigation being launched in February 2020. (Reporting by Anandita Mehrotra and Aishwarya Jain in Bengaluru; Editing by Tasim Zahid) The Nevada-headquartered company’s quarterly adjusted profit per share of 86 cents also came ahead of Wall Street expectations of 62 cents. The arrest order, signed by the Senate president on Friday and to be carried out by the Senate’s sergeant-at-arms, came after the mayor, Alice Guo, failed to appear for a second consecutive hearing on Wednesday, citing stress.
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