German retailer Metro plans further international growth, it said today (Wednesday).
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“We will appreciably extend our market presence, in particular in the growth regions in Eastern Europe and Asia,” CEO Dr. Hans-Joachim Körber told the company’s AGM. “A focus will be on Russia and China where we plan to swiftly expand our store networks.”
In Russia, Metro Cash & Carry plans to open eight new stores this year alone and by year’s end it will rank among the largest retail companies in the country operating more than 20 locations with a staff of over 10,000 the company said. Over the next years the outlet network is to be extended to around 50 wholesale stores. Moreover, the sales division Real is scheduled to open its first hypermarket in Moscow in mid-2005.
In China, Metro Cash & Carry will be operating around 30 locations by late 2005. The number of stores in China is to be re-doubled over the medium term.
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