French retailer Carrefour is holding back on any further expansion in the Greek market, according to its chief executive officer Lars Olofsson.
According to Planet Retail, Olofsson confirmed that by 2013, the retailer will have converted 10 Carrefour hypermarkets into the new Carrefour Planet concept, instead of 14 initially planned.
The group will also stop all remodellings, having set out plans to revamp 23 hypermarkets in the country.
Carrefour will continue to convert Dia discount stores in Greece into Carrefour Express convenience stores, Planet Retail reported.
The retailer's first half sales in Greece amounted to €1.26bn, a 6.8 per cent drop on the same period last year.
