Leclerc will invest EUR 1.2 billion between June 2014 and the end of 2015 in sustaining its runner-up position in France. The investment will be directed towards developing its Drive network (previewed expansion by 100 new units adding to the existing network of 530), refurbishing its hypermarkets and improving logistics.

The announcement comes in the context of a deflationary price trend combined with a slowdown in demand to which all retailers in France are struggling to adjust. Michel-Edouard Leclerc, Leclerc’s Chief Executive Officer estimates the retailer’s sales will grow 3.0% in 2014, sustained by developments in Drives and specialized stores (opticians, parapharmacy, jewelry ).