Updated: Mar 27
Discount Retail Chain Biedronka Poland (owned by Portuguese Jeronimo Martins) plans the possible expansion of its store network, pointing to Slovakia or Romania.
"Slovakia is a country neighbouring Poland and having a similar shopping culture. Many Slovaks cross borders and come to Polish for shopping and shopping in Biedronki, which is why we take into account our investments in this country. Our interest is also in Romania, but we have already mentioned this in previous years," added Luis Araujo.
When asked when the first Biedronka stores in Slovakia will appear, Araujo replied that the investment process has already been launched and the first steps have been taken, but the procedures are ongoing, so you will have to wait for the stores.
"We have always talked about our internationalization and scaling up. and now is the moment when we are taking concrete steps to make these declarations a reality," Luis Araujo said.
"At Jeronimo Martins, we are fans of investments and will continue our investments at the level of millions of euros. We will invest in food production and in families, i.e. continue to look for opportunities to offer products at the lowest possible prices. Inflation is dangerous because it reduces the purchasing power of customers, so we will fight inflation by protecting the purchasing power of our customers. Inflation is the highest tax that burdens the least wealthy and reduces the competitiveness of companies.
I don't know what the future will look like. I can't predict that. However, I know that we will work to make the second half of the year, which promises to be demanding, bearable," added Pedro Soares dos Santos, President of Jeronimo Martins.
In 2023, Jeronimo Martins intends to allocate EUR 1 billion for investments, of which 45% of this amount will be allocated to investments in Poland. `This amount does not include possible purchases of companies` indicated the president of Soares dos Santos.