Dixy Group to Invest $1.6Bln

Retail chain Dixy Group plans to invest 50 billion rubles ($1.6 billion) over the next three years to double its number of outlets, the group's president, Ilya Yakubson, told Interfax.

This means that Dixy could have up to 3,000 stores by the end of 2015, Yakubson said. At least 80 will be opened in St. Petersburg this year.

Over the next three years, the company plans to increase its EBITDA margin to 7 to 8 percent from 5.6 percent in the third quarter of 2012. At the beginning of this year, Dixy operated a chain of 1,495 stores, including 1,388 Dixy outlets, 76 Victoria stores, one cash and carry store, and 30 "compact hypermarkets" branded as Megamart and Minimart.

Dixy operates the Dixy, Minimart, Victoria, Megamart, Dyoshevo and Kvartal chains.

(MT)

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