Biedronka to open 100 more stores in Poland
16:17
Discount retailer Biedronka is planning to open 100 more stores in Poland, Jeronimo Martins, Biedronka's Portuguese owner, announced.
Biedronka opened 50, redeveloped 145, and closed 17 stores in the first nine months of 2016. The chain consisted of 2,700 stores as of the end of September.
Biedronka's sales increased by 9.9 percent y/y between January and September 2016, with like-for-like sales up by 8.7 percent. Biedronka's annual revenue reached €7.16 billion by the end of September, up by 5 percent y/y.
The Jeronimo Martins Group's net profit in the first three quarters of 2016 stood at €502 million, compared to €252 million in the same period of last year.
