Brazil: Carrefour to open 50 new stores in 2018

French retailer Carrefour has announced that it intends to invest R$1.8 billion ($532.7 million) in Brazil across 2018, with plans in place to open 50 new stores over the course of the year.

According to InfoMoney, the investment was announced by the company’s CFO Sébastien Durchon during a meeting with investors.

The retailer said it planned to open 20 of its Atacadao wholesale stores in 2018, along with 10 hypermarkets and 20 Carrefour Express stores. The company said that there was a possibility of opening 120 to 140 new Atacadao stores across 80 cities in Brazil by 2022.

The company also added that it aimed to double its sales area of local convenience stores over the next three years, in addition to expanding in petrol stations, pharmacies and online grocery.

Source: InfoMoney / ESM