Turkish discount chain BIM is planning to open 350 new stores this year, according to Reuters.

The plans are understood to be based on growing consumer demand for cheaper food as economic growth slows in the country.

'BIM continues to grow and create new job opportunities despite the global economic crisis that has affected Turkey,' the company said in a statement.

BIM currently has a total of 2,300 stores, having opened 551 stores last year.

During the first nine months of 2008, BIM's sales increased 47 per cent to TL3.2bn liras (€1.46bn), while its net profit for the third-quarter of 2008 was TL25m (€11.5m).