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Carrefour targets 20% sales growth


February 26, 2008

Carrefour targets 20% sales growth

Spurred by outlet expansion and a better performance from existing stores, French retailer Carrefour expects to grow sales by a fifth to 1.58 billion ringgit ($490.68 million) this year in Malaysia, local media reported Monday.

Last year, Carrefour recorded 1.32 billion ringgit or a 12 percent jump in sales. Following the opening of two outlets last year, Carrefour is set to add four stores in Malaysia this year.

The scheduled openings will bring Carrefour's store strength to 16 by the end of 2008 in Malaysia.

"We made 1.06 billion ringgit (329.19 million U.S. dollars) in 2005, 1.16 billion ringgit (360.25 million U.S. dollars) in 2006 and 1.32 billion ringgit (409.94 million U.S. dollars) in 2007. We expect a 20 percent growth this year from same store growth and store expansion," Carrefour Malaysia's customer operations and marketing director Sivakumar Haridas said.

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