Carrefour to Speed up China Store Openings in 2012

   Date:2012-01-29

January 17, Carrefour SA, the world's second-largest retailer, will accelerate its pace of new store openings in China this year, the China Business News reported on Tuesday, citing a person from the retailer’s local operations.

Carrefour will open 30 new stores in China this year, up from 20-25 new openings per year in recent years, the report said.

The person said China is the fastest-growing market and holds the most potential for Carrefour, which cut operations globally in 2010 as profitability declined.

The French retailer sold off or shut supermarkets in Malaysia, Thailand, Singapore, South Korea, Russia and China's western Xi'an city in 2010.

As of Dec. 31, Carrefour has 203 supermarkets in mainland China, according to data compiled by linkshop.com, a domestic retail portal.

Wal-Mart Stores Inc., the world's largest retailer by revenue, has grown more quickly than Carrefour -- it had more than 300 China-based stores at the end of last year.

UK retail group Tesco Plc., the world's third-largest, said it planned to invest £2 billion in its China expansion between 2011-2015, China News Services reported in May 2011, citing the vice CEO of Tesco China.

Tesco had 93 supermarkets and 12 convenience stores in China as of the end of last January, according to the company’s website.

2005-2011 www.researchinchina.com All Rights Reserved 京ICP备05069564号-1