French retail giant Carrefour plans to open another 28 stores in China this year, topping 22 new stores in the country last year, reported Reuters.
China is one of Carrefour’s strongest performing markets, with an economy that appears to be weathering the financial crisis better than many. The company expects Chinese sales to grow 15 per cent in 2009.
Patrick Ganaye, vice president of Carrefour China, told Reuters the poor economic outlook had not affected the retailer’s business in China.
He credited that to Carrefour’s focus on urban areas, which were taking less of a consumer spending cut than rural areas, and aggressive pricing.
“When you start to be in crisis, people look at price. You should have the best price,” he said.
Carrefour will open its new stores primarily in smaller cities, according to Mr Ganaye.
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