Portuguese retailer Jeronimo Martins revealed plans to open some 700 Biedronka outlets in Poland by the end of 2013.
At an investor day in the Polish town of Wraclow yesterday (10 November), Jeronimo Martins said that one of its key strategic targets was to “accelerate the expansion of Biedronka”.
However, the retailer insisted its expansion in Poland would “not compromise the quality of the locations or the expected returns”.
Like-for-like sales from Biedronka were up over 11% during the first nine months of the year and revenues from the business accounted for almost 55% of the company’s turnover in the nine months to the end of September.
In the medium term, Jeronimo Martins is aiming to operate some 3,000 stores in the country.
The company is also aiming to remodel around 7% of its store estate each year over the next three years.
Growth in its Portuguese home market is likely to remain subdued, with around five Pingo Doce outlets to be opened each year and 4 Recheio stores to open over the next three years.