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Metro eyes 12 stores as incomes increase
Aggregated Source: Shanghai Daily: Business

METRO Cash & Carry, a self-service wholesaler, will open at least 12 new stores in China this year, similar to last year, as urbanization continues to fuel consumer spending, a senior official said yesterday.

Uwe Hoelzer, president of Metro China, said the company's pace of expansion will not slow as there is room for its China business to grow. Metro China operates 63 stores on the mainland.

"We hope to take more market share from wholesale marketplaces, especially in second- and third-tier cities where consumers are starting to pay attention to product quality," Hoelzer said in Shanghai yesterday.

The German retailer said last month its China sales surged 23 percent annually last year to 1.89 billion euros (US$2.44 billion), faster than the 1.7-percent growth globally. The China sales took up 6 percent to its global sales.

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