Retail giant Tesco has confirmed that it is investing in its Thai operations but declined to comment on reports that it plans to expand further in the market.
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The retailer, which currently has more than 500 Lotus stores in Thailand, said it “continues to invest” in its Thai business.
A spokesperson for Tesco told just-food: “We are currently in a closed period until our annual results are announced on 21 April. This means I cannot give out any new store projections for 2009/10.
“However, we remain committed to our business in Thailand and to our Thai customers and are continuing to invest in the country despite the challenging economic conditions.”
Earlier this month Tesco said it remains focused on growing its hypermarket operations in Malaysia.
Responding to rumours that the company is mulling entering the convenience sector in Malaysia, a spokesperson for the group told just-food that hypermarkets are Tesco’s growth driver in the market.
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