The supermarket chain Soriana is expanding

The supermarket chain Soriana, Mexico's second largest retailer is rapidly expanding its network.

Soriana is optimistic about sales in the second quarter despite a decrease consumption in Mexico. But faced with competition, and to increase growth of sales, Soriana decided to add 200 stores to its network.

At the end of 2010, the supermarket chain Soriana had 508 stores in the country. The chain expects to have 700 supermarkets  by 2014 and plans to spend 16 billion pesos (1.3 billion U.S. dollars) to achieve this objective.

After this deployment of outlets,  Soriana is considering expansion outside of Mexico in five years, according to statements by its chief financial officer, told Reuters.

Source: Reuters