Biggest retailer Jeronimo Martins' capex for Poland is EUR 455-490mn in 2013.

By bne IntelliNews February 28, 2013
The 2013 investment programme of Portugal's Jeronimo Martins is planned to be between EUR 650-700mn, of which 70% will be invested in Poland's biggest retail network Biedronka and EUR 100mn in Colombia, according to the firm's report. In 2012, its capex in Poland rose to EUR 398mn from EUR 312mn a year before. The expansion plan includes the opening of around 290 stores, as well as the opening of two new distribution centres. Biedronka opened 263 new stores in 2012 (net growth was 252 stores) and ended the year with 2,125 stores. In 2013, Jeronimo Martins expects to achieve LFL sales growth ahead of the market in Poland and further improve profitability. Biedronka's LFL sales rose by 6.4% in 2012, in a market that grew by 4.4%. As part of its strategy, Biedronka identified perishables as a strategic area for investment, given the expected stronger growth in this area in line with the changing habits of Polish consumers, the company also reported.
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