French retailer Carrefour has revealed plans to open between 20 and 25 new hypermarkets in China during 2007.
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The company told just-food today (17 January) that sales from its operations in China grew by 18.6% in 2006, boosted by the contribution of new store openings. Carrefour opened 22 hypermarkets in the country last year, with nine launched during the fourth quarter.
Carrefour said it now has 338 stores in China, including hypermarkets, supermarkets and discount outlets, across 31 cities, having been the first international retailer to establish itself in the country, in 1995.
Wal-Mart, which is currently expanding faster internationally than domestically, plans to open as many as 20 new stores a year in China.
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