BRITISH retailer Tesco Stores (M) Sdn Bhd will invest RM800 million within the next 12 months as it opens 11 stores, bringing the total number of Tesco stores to 31 and possibly over RM3 billion in sales.The planned expansion, growth in like-for-like sales coupled with a strong consumer friendly pricing policy, is expected to help sales for the year ending February 28 2009 grow by not less than 30 per cent."We are currently constructing eight stores and we have plans to develop a further three stores, hopefully within the next 12 months. We are also building a second distribution centre for our ambient products," chief executive officer Chris Bush said.Bush said Tesco's growth in Malaysia, in terms of expansion and sales, is one of the biggest markets outside of the UK.
(New Straits Times 28-2-2008)
