CEO: Electronic goods retailer M.Video to open 20 stores ‘17

MOSCOW, Mar 22 (PRIME) -- M.Video, one of Russia’s biggest electronic goods retailers, intends to launch around 20 stores in 2017, CEO Alexander Tynkovan said during a conference call on Wednesday.

“We plan to open about 20 shops, as well as in 2016. We will continue investing in all our systems,” the executive said.

He added that capital expenditures will remain flat on the year in 2017.

M. Video’s expenditures on capital assets stood at 1.816 billion rubles in 2016 and 2.368 billion rubles were spent on intangible assets.

(57.2323 rubles – U.S. $1)

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