Migros opened 28 new Turkish stores in May

Migros opened 28 gross new stores in Turkey in May 2013, while closing four existing stores, resulting in net 24 new store additions to its store network. 26 of the new stores were opened under the Migros banner (16 Mjet, six M, one MM, one MMM) and two under the Tansas banner (two Mini Tansas). The company also opened a new hypermarket under the 5M banner. As of May 31, 2013, the company operates 912 stores in the domestic market.

Migros has opened 87 new stores YTD in 2013 and closed 25 existing stores, resulting in 62 net new additions. The company is expected to add 100 new stores in FY13 and the company's YTD performance confirms this expectation. On the other hand, since almost 85% of the new stores are in smaller formats (MJet, M Migros, Midi, and Mini Tansas), despite the consistency in expectations with regards to the number of stores, there may still be a downward revision to the revenue forecast, as these small stores' revenue contribution is lower than that of the larger sized stores.

Source: balkans.com

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