ADM Londis will open 10 more stores in 2011 creating 240 jobs, its CEO Stephen O'Riordan has revealed.

The Irish symbol group has more than 300 stores and has already opened two in 2011. ADM Londis' existing stores reported combined sales of just under 500m last year.

O'Riordan was "quite optimistic" about the future in stark contrast to six months ago when he warned retail sales across the Republic had fallen in value by 20% from their peak, and the collapse in credit had led to "extreme pressure" on retailers and consumers.