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PARIS -- Global retailer Carrefour SA, based here, said yesterday it was fined $2.69 million by a French regional court for false advertising, selling items below cost, and collusion with suppliers, according to published reports.
Carrefour was fined in a correctional court in Evry, south of Paris.
"The management takes note of the decision today by the court in Evry, and is surprised by the severity of the punishment handed down. (Carrefour) reserves the right to appeal," a company statement cited by the AP said.
For years, French consumer groups have accused Carrefour and other retailers of using inaccurate advertising about low prices. At the same time, Carrefour's competitors have accused it of illegally selling below cost.