While there seem to be a growing number of pessimists regarding China’s economic outlook for the coming year, Carrefour is among the many foreign retailers planning to expand their operations in China during 2012.
According to an anonymous source within the French hypermarket retailers’ China operations, the company is actually accelerating its expansion this year and plans to open 30 new stores before December 31st, 2012. From a story in the 21st Century Business Herald,
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.