Carrefour Revamps Global Expansion Plans, Will Focus On Europe, South America, And Asia

French retailer Carrefour plans to focus its global expansion efforts on Europe, South America, and Asia, according to company CEO Georges Plassat. Admitting that his company's previous international expansion move went too far and too fast, Plassat said Carrefour had to leave some markets to relieve the retailer of the financial pressure. Carrefour's CEO said the company will invest €2.3 billion in 2013, with a significant portion to be spent on operations in France. Having learned its lessons from the company's merger with Promodès, Carrefour intends to give more autonomy and decision-making responsibility to store managers.