POLAND: Jeronimo Martins outlines Poland expansion plans
By just-food.com | 23 June 2010
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Jeronimo Martins said it will increase its store count in Poland to 2,000 by 2012 |
Jeronimo Martins has confirmed that it is to expand its Biedronka chain in Poland.
The Portugal-based retailer said today (23 June) that it will spend EUR300m (US$367m) per year on the expansion – 70% of capex from 2010 to 2012.
Jeronimo Martins said it will increase its store count in Poland to 2,000 by 2012. The retailer currently operates 1,500 stores. Plans also include the opening of a further three distribution centres by 2012, bringing the total to 12.
In April, the retailer reported a 30% rise in first-quarter profits after enjoying strong like-for-like sales at home and in its overseas market, Poland.
Net profit leapt 30.1% to EUR42.3m after like-for-like sales climbed 9.7%.
Same-store sales from Jeronimo Martins' Biedronka chain in Poland jumped 13.3%.
Sectors: Retail
Companies: Jeronimo Martins
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