Aditya Birla to add 80 ‘More’ outlets in the current fiscal

Aditya Birla Retail (ABRL), part of the Aditya Birla Group, plans to set up 80 outlets of ‘More’ in FY 2009-10. ABRL wants to increase the number of its outlets to 720-730. Subsequently, the company also intends to close down 10-20 existing outlets as part of its clean-up operation.

Presently, the retail major operates 2 hypermarkets at Mysore and Baroda and has shown its interest to set up 6 to 8 in the similar format by March, 2010.

The company posted sales of around Rs 1,150 crore, now aims to achieve a sales turnover of about Rs 1,600-1,700 crore in current fiscal. In FY 2008-09, the company observed a growth of 110%. ABRL has been able to create network of 710 stores in just 20 months, out of this 76 outlets have been closed in the last six months.

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