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The Warsaw Voice » Business » November 12, 2008
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Rise of the Biedronka
November 12, 2008 By A.R.    
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Portuguese company Jeronimo Martins is expanding its Biedronka retail store chain. Sales are also rising.

Income from the Biedronka chain was nearly 40 percent higher this year than last, reaching zl.8.7 billion. The chain has opened 86 new outlets and had 1,118 at the end of September. Discounting new markets, Biedronka achieved a 24-percent rise in sales in the first three quarters of this year.

"We do not see the current financial crisis and economic slowdown as having an important effect on our results in the upcoming months; we expect a rise in sales and profits similar to the preceding quarters," said Pedro Pereira da Silva, CEO of Jeronimo Martins Dystrybucja.

The company employs more than 25,000 in Poland. Since 1995, JMD has invested more than zl.2 billion in this country.
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