Jeronimo Martins to invest €900m in Poland until 2012
2009-11-17
Jeronimo Martins (JM), the Portuguese retail group, aims to invest €900m in expanding its operations in Poland over 2010-2012, Pedro Pereira da Silva, general manager of JMD, the company’s Polish unit, has revealed. The amount constitutes almost 70% of the total capital expenditure estimated for the period, reflecting Poland’s status as the largest and fastest-growing market for the group.
The crown jewel of JM’s Polish operations is Biedronka, the discount-store chain, which has become the largest grocery retailer in the country. At the end of September, its store network reached 1,410 outlets, following the addition of 73 new stores so far this year. By the end of 2012 JM wants the network to reach 2,000 stores. The share of Biedronka in JM’s total sales topped 50% in the nine months to the end of September.
Discount retailers such as Biedronka have performed relatively well during the crisis thanks to their low pricing strategy.
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