Briefs
GUM tree grows
Rising profits at Moscow’s best known department store, GUM (the State Universal Store), have prompted its owners to plan major changes to its profile. Some $27 mn in 1995 net profits will be used towards renovation and expansion of the existing store to include two extra stories, a basement food hall and 40 new escalators. Meanwhile, new malls are planned in five provincial cities. GUM has also introduced American Depositary Receipts, equivalent to two company shares, to be traded on the over-the-counter market in the US.
Don't have an account? signup
Russian Life is a publication of a 30-year-young, award-winning publishing house that creates a bimonthly magazine, books, maps, and other products for Russophiles the world over.
Russian Life PO Box 567 Montpelier VT 05601-0567
800-639-4301 802-223-4955
[email protected]