Grupo Carrefour Argentina is to expand its store range in the South American country this year thanks to an investment of around 250m pesos (US$64.6m), tapping into recovering supermarket sales.
The group is set to add 23 stores to the 185 it already operates in the country, Carlos Velasco, director of communications at the retailer, told Business Week.
As a result, Carrefour Argentina is forecasting sales growth of around 5 per cent in volume terms this year, similar to 2009 levels, Mr Velasco noted.
Supermarket sales in Argentina increased by 11.4 per cent in January on a year-on-year basis, as the country continued its recovery from the global financial crisis that impacted consumption heavily in 2009.
