The four Carrefour hypermarkets in Romania made nearly 190 million euros in sales in the first half of this year, up more than 83% on the same time last year, when only three hypermarkets were operational.
"This performance will also translate in a net improvement in results, which will allow for absorbing the decline in the margins of the operations of the hypermarkets in France," say the representatives of Hyparlo, the company that runs the Romanian Carrefour hypermarkets.
The four hypermarkets, three of which located in Bucharest and one in Brasov have come to account for 28% of Hyparlo''s turnover in the first half, which is French giant Carrefour''s largest franchisee.
The French group''s sales in the first half amounted to nearly 670 million euros, up 30% on the corresponding period of 2004.
"We will attain a two-digit turnover growth thanks to the activity in Romania this year," say the representatives of Hyparlo, which posted only 4% turnover growth in France.
Hyparlo announced early in 2005 it was taking over the whole of Hyproma, the operator of the Carrefour hypermarkets in Romania. This branch had previously been held fifty-fifty by Hyparlo and Carrefour.
The results of the stores in Romania are 100% consolidated in Hyparlo''s reports, as opposed to 50% in 2004.
The increase in the sales of Carrefour hypermarkets comes at a time of intense competition in Bucharest, where there are four hypermarkets (three Carrefours and a Cora), seven cash & carry stores (four Metros and three Selgros-es) and more than 20 supermarkets (Mega Image, Billa, XXL Mega Discount).
Moreover, another two hypermarkets are now in various construction stages. It is about a Cora hypermarket slated for opening in the Lujerului area this autumn and a Carrefour that is to open in Baneasa, Bucharest next year.
At the same time, the German operator Metro could open another cash & carry store in Baneasa by yearend.
Several discounters are also scheduled for opening by Kaufland or Penny Market.
Under the circumstances, Hyparlo relies heavily on the rest of the country.
After having opened their first hypermarket in Brasov last autumn, the French will add another one in Ploiesti and then go to Constanta and Cluj next year. Cora is also scheduled to open a hypermarket in Cluj next year.
The group''s development strategy entails opening two hypermarkets every year, until a total of 20 such shopping centres in Bucharest and in the cities with more than 300,000 inhabitants is reached.
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