French retailer Systeme U has confirmed that it plans to invest EUR400m (US$509.8m) in the expansion of its store network and opening of three distribution warehouses by the summer of next year.
A spokesperson for the group today (16 May) confirmed the accuracy of comments made by president Serge Papin.
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Papin indicated that the group will invest EUR200m in expanding and opening stores and EUR200m in the creation of three warehouses. It is expected that 500 warehouse jobs and 1,500 in-store jobs will be created, he indicated.
Papin’s comments came in response to concerns the French retail sector could be preparing to shed jobs. The Force Ouvrière union warned that as many as 12,000 positions could be under threat in the sector.
