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Tesco Eyes Bulgaria's Market
Business | January 20, 2004, Tuesday // 00:00
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The major Tesco supermarket group is looking at some countries, including Romania and Bulgaria, and is keeping an eye on the fast-changing Russian market, Financial Times reported. The company does not rule out new ventures in the wider region and has announced the EUR 75 M acquisition of Kipa, a supermarket chain in Turkey.
The supermarket group already invested more than EUR 1.5 B in four central European countries - the Czech Republic, Hungary, Poland and Slovakia - and continues to invest more than EUR 250 M a year. With 38,000 staff, it is the region's biggest private sector employer, Financial Times underlined.
Tesco's international operations, including Ireland and east Asia as well as central Europe, now account for 50 per cent of the group's total floorspace, 20 per cent of sales and 15 per cent of operating profits. Tesco was a late starter in central Europe, where other big west European operators, including Germany's Metro, were already active.
The supermarket group already invested more than EUR 1.5 B in four central European countries - the Czech Republic, Hungary, Poland and Slovakia - and continues to invest more than EUR 250 M a year. With 38,000 staff, it is the region's biggest private sector employer, Financial Times underlined.
Tesco's international operations, including Ireland and east Asia as well as central Europe, now account for 50 per cent of the group's total floorspace, 20 per cent of sales and 15 per cent of operating profits. Tesco was a late starter in central Europe, where other big west European operators, including Germany's Metro, were already active.
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