Turkish retailer Migros said it opened 97 stores in the first three months of the year and plans to open a further 300 by the end of the year.

Migros, owned by private equity firm BC Partners, currently operates 1,278 stores in Turkey and said it hopes to reach its target of a further 300 in the next nine months.

BC Partner last year paid $1.6bn for a 51% stake in Migros.

Earlier this month, the company posted a 2008 consolidated net profit of TRY261.53m (US$162m).