DIA Portugal Posts Like-For-Like Sales Growth Of 9.3% In H1 2020
DIA Portugal has reported like-for-like sales growth of 9.3% in the first half of its financial year, compared to the same period last year.
Gross sales in the Portuguese division amounted to €430.6 million, up 5.7% year-on-year, from €407.6 million in the first half of 2019.
Net sales for the period increased by 6.4% year-on-year to €309.2 million, driven by local transformation measures such as increased stock delivery frequency to support the expanded fresh product offer and continued in-store refurbishment efforts.
Adjusted EBITDA for the division, which operates the Minipreço and Clarel banners, amounted to €6 million, up 86.7%, from €3.2 million in the first half of 2019.
DIA Portugal renovated 125 stores in the country in the first half to support the roll-out of an optimised product assortment.
The retailer also concluded the trial of its online operations and expanded its service across Lisbon.
In addition, the company appointed a new franchise director in the second quarter and introduced six days per week stock delivery frequency in 80% of its network to support the expanded fresh product offer.
The retailer ended the first six months with 568 stores in the country, out of which 251 are franchised.
The company closed nine franchised stores, transferred 19 stores from franchised to owned stores, and opened one new franchised store in the country during this period.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.