PARIS (FNS) -- Coming off robust growth in fiscal 1993, the Brazilian and Argentine subsidiaries of Carrefour plan to expand their operations this year.
Carrefour, one of the world's largest retailers, is based here.
In Brazil, where Carrefour operated 29 hypermarkets at the end of 1993, the company expects to add four new units this year. Carrefour invested about $100 million in its Brazilian operations last year to maintain its stores and buy land for future expansion.
Two additional new stores are expected to open in Argentina in 1994. Carrefour currently operates seven stores in Argentina, two of which will be expanded this year.
Carrefour's sales in Brazil increased 14.4% in local currency to almost $1.8 billion (10.1 billion francs) in 1993, according to results announced at last month's annual meeting here. In Argentina, which reported a higher inflation rate last year than Brazil, Carrefour's sales rose 83.7% in local currency to about $965 million (5.5 billion francs), the retailer said.
