French retailer Carrefour, the second largest grocer in the world, said strong non-food sales in the first quarter of 2001 indicate economic recovery in Thailand.
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The group added that the Thai retail sector still has good growth prospects. Carrefour will open another branch in Thailand in the second half of this year, in line with its plans to open two to three new branches every year. It has no plans to increase its registered capital, however.
Carrefour Thailand reported 2001 sales 5% above target and said Q1 this year should see a two-digit rise in sales.
