Portuguese retailer Jeronimo Martins has confirmed its intention to invest EUR1bn (US$1.316bn) in the Portuguese and Polish markets between 2007 and 2009.

"We plan significant growth in these areas," a spokesperson for the company told just-food today (2 March). "We will invest on store openings, low prices and innovation."

The Portuguese retailer aims to open more than 450 new outlets over the next three years. JM plans to open 120 new stores in Poland and 28 new stores in Portugal.