French retail giant Carrefour has acquired two hypermarkets in Italy.
The two hypermarkets have been bought from a fellow French hypermarket group, Hyparlo, which is focusing its expansion efforts on France and Romania.
The financial details of the transaction have not been disclosed, but the two hypermarkets together generated sales worth €113m (US$121.3m) last year.
Meanwhile Carrefour CEO Daniel Bernard confirmed that earnings per share growth in 2002 will level off at the top end of the forecast 10-15% range. Bernard bucked the prevailing negativity about the industry’s outlook for the coming year, saying Carrefour was in good health with a robust balance sheet.
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