Biedronka upholds its plan to expand its sales network by approximately 100 net outlets this year, of which about half will be smaller-format stores, the owner of the Jeronimo Martins chain said. It was also confirmed that of the investment outlays planned by the Jeronimo Martins Group of approx. EUR 700 million, approx. 60% is to be allocated to Biedronka.
If the restrictions introduced on our markets do not affect the implementation of the capex program, it is to amount to approx. EUR 700 million, of which approx. 60% is to be allocated to Biedronka. This program includes the addition of approx. 100 locations (net) to the Biedronka network (approx. 50% in a smaller format) and remodeling 250-300 stores, the company stated.
In the first half of The capex of the Jeronimo Martins Group was EUR 200mn compared with EUR 142mn a year earlier.
Capex for the Biedronka chain amounted to EUR 120 million in the first half of the year(and accounted for 60% of the group’s capital expenditure) compared to EUR 61 million a year earlier (respectively: 43% of the group’s expenditure).
In the first half of the year, the Biedronka chain opened 53 stores (39 net) and rebuilt 153 locations, increasing the network to 3,154 outlets at the end of June. The retail space increased to 2.16 million m2 from 2.12 million m2 at the end of 2020.
Source: Jeronimo Martins Group and ISBnews
