27 Mar 2014 18:39

M.Video plans to open 30 stores in 2014, capex at 4 bln-5 bln rubles

MOSCOW. March 27 (Interfax) - Russian appliance and electronics retailer M.Video plans to open 30 new stores in 2014, CFO Christopher Parks said during a conference call on Thursday.

Capital expenditure this year - to open new and upgrade existing stores - might total 4 billion-5 billion rubles, he said.

The company will determine which stores to renovate in 2014 later on, he said.

M.Video opened 40 new stores last year and shut down three. It renovated 20 existing stores at an average cost of 27 million-29 million rubles each.