Marktkauf expansion in Moscow

Marktkauf Rus intends to expand further in Moscow. Two more outlets – both hypermarkets with DIY stores – are already guaranteed. The next opening is planned for 2005. So far Marktkauf operates one shopping centre in Moscow that generated sales of € 36.6 mio in the first six months of 2004. However, Marktkauf considers that a comparison with last year would not be very meaningful, since the shopping centre only opened on 6 Februrary 2003. In a monthly comparison, Marktkauf Rus reports growth rates of between 25 and 30 per cent, which means they are far higher than the target figures.