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Carrefour to pull out of Singapore
Singapore
Wednesday 05 September 2012
MD
Carrefour is withdrawing from Singapore and its two stores will close by the end of the year.
Having established itself in the country in 1997, Carrefour will leave Singapore by the end of the year.
Carrefour will close its two stores in Singapore (Suntec and Plaza Singapura) before the end of 2012. The retailer has failed in achieving its aims in this small market of 5.2 million people and sees no opportunities for expansion and growth.
Its sales in Singapore fell 11.6%
in 2011 to 76 million euros. In comparison, Taiwan stores generate a turnover of nearly 20 times that sum. In 2011 Asia accounted for nearly 9% of sales for Carrefour (81.2 billion euros), Latin America 18.5% and Europe 29.2% (excluding France).
source : lexpansion, boursier
