Carrefour to complete construction of new store this year

The Carrefour hypermarket network will add another store to its portfolio this year. It is also set to kick-start works for a further two to three stores, which will be due for completion next year.
“The Ploiesti store will be completed this year and we will start building at least another two stores – the first of which will be in Constanta and opened next spring,” Francois Oliver, general manager of Hiproma, the company that runs the Carrefour hypermarkets in Romania, told Ziarul Financiar. He offered no further details as to the other locations.
According to market information, the French group will also begin construction of a store in the Baneasa area of Bucharest. This year could also see the start of construction of another store in Galati-Braila area of the country as part of a larger commercial project.
At present, there are four operational Carrefour hypermarkets in Romania – three in Bucharest and one in Brasov. According to Hyparlo, the French shareholder in Hiproma, the four stores last year created a combined turnover of 222 million euros, more than twice the level seen the previous year with only two stores operational.
Last year also saw the French group derive operational profits for the first time since entering the Romanian market. According to Hyparlo, activities in Romania last year generated operational profits of 4 million euros, though net profits for the entire year were negative (losses of 4.8 million euros) mainly due to the costs incurred by development. The first Carrefour store in Romania was opened mid 2001.