B&Q China plans to open more than 130-plus stores in the coming years, and double its current number of outlets, the biggest home improvement retailer in the country said on Tuesday.
After announcing it expects annual sales for comparable stores to slow as the market becomes tougher, president Mariusz Gliwinski said the business can deliver 'high like-for-like single digit performance'.
"Within the next five years, we believe we should have 130-plus stores," Mr Gliwinski told the Reuters news agency.
The Kingfisher-owned business opened 10 stores in 2006 and increased sales by 41%, double that of the market at 15%-20% (source: Reuters).
B&Q is forecasting growth in China for 2007 at 9% (2006: 11%)
According to estimates, B&Q is the largest diy retailer in China, with a 2% share of a highly-fragmented market, operating 59 stores.