Vasilopoulos supermarkets to open 40 new stores in 2018

Vasilopoulos to open 40 new stores in 2018

Supermarket retailer AB Vasilopoulos, a subsidiary of Belgium's Delhaize group, plans to invest 90 million euros this year in 40 new stores across the country, the company said Friday

Vasilopoulos, one of Greece's largest players in the supermarket business, said in a statement the new outlets will bump up its network to 454 stores at a time of major changes for the sector.

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Last year a total of 700 new supermarket outlets opened sector-wide, 500 of which related to the relocation of existing stores. Greece's top supermarket players Sklavenitis is also busy completing its merger with peer Marinopoulos, trimming its network size.

Vasilopoulos reported 2.1 billion euro profit for 2017, 3% lower than a year earlier.