Slovenian retailer Mercator said it will open its first hypermarket in Albania in the last quarter of this year.
The store will open in the country’s capital, Tirana, however a spokesperson for the company said it had no exact date for the opening.
“We are planning to open in Albania this year. We have further plans in Albania but this is the first and then we will see. We cannot say before anything is confirmed,” the spokesperson told just-food.
The retailer said it will also enter the Macedonian market in three years’ time as part of its expansion in southeast Europe.
Mercator said it will also invest EUR80m (US$111.3m) in the construction of up to nine hypermarkets in Bulgaria by the end of 2012 and has plans to enter Kosovo in the future.
At home and abroad Mercator said it plans to invest EUR220m to EUR260m yearly by 2012.
“The group plans to end this year with revenue of EUR1.8bn in Slovenia and EUR988m abroad, compared to EUR1.78bn and EUR927m in 2008. We see net profit dropping to EUR30m from EUR40.8m last year.