Carrefour Announces Expansion Plans In China; Says Will Focus On Smaller Cities

Carrefour SA said it plans to open 20 new hypermarkets in China as part of its efforts to expand its presence in the country by entering 30 new cities and opening 60 new stores in the next three years. Currently operating 236 stores in 73 cities, Carrefour’s new expansion strategy focuses on China’s third- and fourth-tier cities. Although facing strong competition and challenges in the local retail market, Carrefour, which reported sales in China rose 4.7 percent in the third quarter, remains optimistic and sees many opportunities in the market.