German supermarket chain prepares to expand sevenfold

Plus Discount, a German retail shopping network announced plans to open 1,0 00 new outlets across Poland over the coming years. The value of the invest ment is estimated at around zł. 4 billion. "While developing our network we plan to use external funds as well as profits already made in Poland. We wi ll close this accounting year with a gross profit of zł. 45 million and rev enues of zł. 1.2 billion. Since the start of our operations in 1995 we have an accumulated gross profit of almost zł. 170 million," announced Jarosław W. Lasecki, the head of Plus Discount. The company currently controls 139 o utlets across the country. Plus Discount plans to increase that number to 1 80 by the end of this year. In 2004 a minimum of 50 new outlets will be ope ned and the following years will see from 50 to 100 shops opened annually. Each outlet will cost between zł. 4 million to zł. 7 million. Lasecki also announced that he expects to see market consolidation as there is only room for two or three big players. (Puls Biznesu, p. 9) A.K.