Carrefour to invest zl. 1.7 billion by the end of 2002

The world's second largest retailer, Carrefour, is planning to invest zl. 1.7 billion in Poland between 2001-2002 and will open two hypermarkets and 10 Champion supermarkets, said Carrefour Polska CEO Guy Yraety. The company is expecting to increase its profits from zl. 1 billion in 1999 to zl. 1.7 billion in 2000 and zl. 2.5 billion in 2001. The French company is currently operating seven hypermarkets across Poland and will open one more 8,500 square meter store in Bytom this year. "Carrefour will open at least two more hypermarkets in 2001," said Yraety. By year's end the retail chain wants to own at least 15 Champion supermarkets and increase the number to 30 by late 2001. In late July Carrefour bought a retail chain from Belgium-based GB and will takeover 28 Globi supermarkets in Poland. The merger is still awaiting approval from the European Commission (EC). (Puls Biznesu, page 4)