Carrefour Egypt announces expansion

Carrefour Egypt announces expansion

Carrefour Egypt announces expansion

Updated 40 min 30 sec ago

Mohammed Abu Zaid

About 39 Carrefour branches are expected to open over a period of five years

Updated 40 min 30 sec ago

Mohammed Abu Zaid

Follow @arabnews

CAIRO: Carrefour Egypt has announced plans to invest about 200 million Egyptian pounds into its operation before the end of the year.

Jean-Luc Graziato, director of stores for the Majid Al-Futtaim Retail Group, said the decision “” that will involve opening new branches “” came despite sales taking a hit from the coronavirus pandemic.

He said that estimated sales losses totaled about 18 to 20 percent during the pandemic. He added that Carrefour online sales make up 4 to 5 percent of total revenue, which he aims to increase to 10 to 15 percent.

Graziato said that, while the pandemic led to