RUSSIA: Spar to open 13 new stores in Moscow by end of 2003
Marta Holding, the Russian franchise of German retailer Spar Handels-AG, has announced its plans to invest US$50m in the opening of 13 new Spar stores in Moscow next year. Marta, which already operates four Spar stores in Moscow, expects that the new stores will increase sales from a projected $30m in 2002 to $100m in 2003, reported Dow Jones International.
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