CARREFOUR PLANNING HYPERMARKET GROWTH IN BRAZIL

RIO DE JANEIRO, Brazil (FNS) -- The French-owned Carrefour supermarket chain, Brazil's biggest, plans a major expansion in the country -- particularly in Sao Paulo, where Wal-Mart is making inroads. Carrefour, with 13 of its 38 Brazilian hypermarkets in Sao Paulo, said it would open 12 new stores in Sao Paulo during the next three to four years, its biggest one-city expansion in Brazil. Each hypermarket

RIO DE JANEIRO, Brazil (FNS) -- The French-owned Carrefour supermarket chain, Brazil's biggest, plans a major expansion in the country -- particularly in Sao Paulo, where Wal-Mart is making inroads. Carrefour, with 13 of its 38 Brazilian hypermarkets in Sao Paulo, said it would open 12 new stores in Sao Paulo during the next three to four years, its biggest one-city expansion in Brazil. Each hypermarket costs roughly $15 million, so the investment would be about $180 million.

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