Migros, one of Turkey's leading supermarket chains, is planning to open at least 100 new stores in 2019, with a projected capital of TL 300 million.
While the supermarket chain's consolidated sales amounted to TL 18.7 billion, with a growth rate of 22 percent last year, the company registered a loss of TL 835.6 million during this period due to financial expenses that rose sharply in line with the depreciation of Turkish lira.
The company plans to increase its consolidated sales by 20 percent this year, according to the targets announced Tuesday, together with the balance sheet.
Migros operates over 2,000 branches in Turkey's 81 provinces under the Migros, M-Jet, 5M, and Macrocenter brands. It is also active in Kazakhstan and Macedonia through over 40 Ramstore outlets.