Jerónimo Martins invests in Poland as profits rise
The group's Polish business accounted for some 61.9 per cent of turnover, and its Biedronka banner saw like-for-like sales up 6.4 per cent. The Polish banner has driven the group's success and underwent "an ambitious expansion plan" which saw the opening of 263 new stores in 2012 and the conversion of more than 1,700 stores to a new layout, focused on enhancing the fresh produce category and introducing in-store bakeries to a number of stores. At year end, 2,125 Biedronka stores were in operation. In 2013, 290 Biedronka stores will be opened, along with two new distribution centres.
The "difficult macroeconomic environment" in Portugal saw new store openings limited to three Pingo Doce stores and the focus remains on price competitiveness.
The group invested €466 million in 2012, with a bigger budget of between €650 and €700 million earmarked for this year. CEO Pedro Soares dos Santos said 70 per cent of 2013's investment fund will be ploughed into Biedronka with €100 million to be invested in Colombia where the group will open between 30 and 40 stores during the year.
Source: esmmagazine.com
