Carrefour Egypt announces expansion

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Tue, 2020-09-01 21:18

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.

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