Moscow fulfils expectations

Hermann Spielberger, managing director of Marktkauf Rus, a subsidiary of AVA, has made a positive interim appraisal approximately half a year after the opening of the Marktkauf shopping centre in Moscow. According to his statement, the expected sales targets have been met and the number of customers is rising. The company achieved sales of € 24.4 mio from opening day on 6 February to 30 June 2003. Average weekly sales are “rising continuously towards the € 1.5 mio mark”. Spielberger confirmed the expectation that sales of at least € 50 mio would be achieved in the opening year. This is the background against which Marktkauf is planning to expand further in and around Moscow. A hypermarket is to open in 2004 already and two more are planned for 2005. There are, over and above this, plans for three locations for which no opening dates have yet been fixed. Some of the locations should see a DIY store and other specialist stores established next to the hypermarket.