Tuesday, August 24, 2010
CARREFOUR READIES FOR HYPERMARKET REVAMP
Carrefour is getting ready to unveil two new hypermarkets, as part of its plans to revive its struggling operations across Europe, with CEO Lars Olofsson calling the current concept “a thing of the past”. The retail giant will open the hypermarkets tomorrow (24 August) in Lyon, with Olofsson noting that “some departments will go, some will merge and we will introduce some new ones”.Olofsson said the changes had to be made at the hypermarkets, noting “The concept of having everything under one roof in a bazaar-like spirit is a thing of the past”. He added that the new-look hypermarkets will focus on areas in which Carrefour is competitive in prices, such as textiles, home decor and groceries.
Carrefour plans to invest nearly E1bn over the next three years on revamping its European hypermarkets, which represent half of its sales. Olofsson noted that despite the troubles, Carrefour has increased its market share in France by 1% to 24% this year.