Carrefour says it will spend €900M to open 475 new stores in emerging markets while cutting investments in Greece, Italy and Spain

LOS ANGELES , September 2, 2011 () – Carrefour SA says it plans to spend 900 million euros this year to expand in emerging markets, The Wall Street Journal reported Aug. 31.

The company plans to open 475 new stores in emerging markets this year, including 31 Asian hypermarkets, and reduce investment in Greece, Italy and Spain.

The company plans to complete 82 hypermarkets called Planet stores by the end of 2011. It also plans to renovate 464 hypermarkets by 2013.

The primary source of this article is The Wall Street Journal, New York, New York, on Aug. 31, 2011.

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