Turkey: Migros opens 8 new stores in February
Migros opened eight new stores in Turkey in February 2013. Six of the new stores were opened under the Migros banner and two under the Tansas banner. The company opened eleven stores in the same month last year.
With the addition of the February figures, Migros’ year to date new store openings has reached 27. On the other hand, with the deduction of closures (i.e. 10 stores), this means the company’s net additions to its store portfolio in the first two months of 2013 is 17. We expect the company to enlarge its store portfolio in full year 2013 with 100 net new additions and the first two months’ data are in line with our expectations. The news is likely to have no material impact on the share performance.
Source: balkans.com
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