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Retail

€1.5bn Makeover Planned for Carrefour Hypermarkets

By square1
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€1.5bn Makeover Planned for Carrefour Hypermarkets

Carrefour has revealed it is to spend around €1.5 billion on converting and remodelling its hypermarkets in Europe to the new Carrefour Planet model. 245 of the retailer's hypermarkets in France, Belgium, Italy, Spain and Greece will be revamped to the new standards during 2011/2012, while a further 255 will be upgraded to a lesser level.

The cost of converting each store to Carrefour Planet standards has been estimated at an average of €4.2 million. The aim is to make the stores "more spacious and user-friendly." Carrefour hopes to grow its sales to €105 billion by 2013 and €120 billion by 2015.

“Over the next five years, Carrefour expects a sharp improvement in revenues and profitability thanks to additional sales from its reinvented stores," Carrefour CEO Lars Olofsson said. (20 Sept)

© 2010 - ESM: European Supermarket Magazine

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