TURKEY: BIM and Migros power up | Progresiv
Leading Turkish retailers BIM and Migros Ticaret have revealed its results for the first half of 2015. BIM reported a 21.4% increase in net sales to 8.4 billion Turkish lira (2.6 billion euros) and a 38.3% increase in net income to 273.1 million Turkish lira (86.4 million euros). Like-for-like sales in the first half increased by 11.4%. Meanwhile, competitor Migros reported a 17.8% increase in net sales for the first half to 4.4 billion Turkish lira (1.4 billion euros), although it reported a net loss of 111 million Turkish (34.5 million euros). 
BIM’s private label share of sales continued to grow, increasing by 0.6% to represent 69.7% of sales, while Migros revealed it had invested in the competitiveness of its private label range.
BIM’s Turkish store openings continued at pace, with 302 new stores opening so far this year, including a small number of File supermarkets. The retailer aims to operate ten File stores by the end of this year.
During the first half, Migros opened 123 new stores, bringing its store count to 1,296. The convenience channel is a key priority, with the retailer opening 97 Migros Jet stores so far this year, allowing it to reach ‘out to a larger number of households’. Migros is also expanding the format at forecourts through collaboration with Petrol Olfisi, operating 62 Migros Jet forecourt stores at the end of the first half.
BIM’s international expansion continues
Internationally, BIM also continued its store opening programme, launching 22 stores in Q2 in Morocco, bringing the total store count to 258. The retailer now aims to operate close to 300 stores by the end of this year.
In Egypt, BIM opened 19 stores in Q2 2015, bringing the total store count to 116. The retailer now aims to operate at least 135 stores by the end of this year. (www.igd.com)
