Italy's Esselunga Sees Sales Up 2.9% In FY 2019
Italian supermarket chain Esselunga has reported sales of €8.14 billion in its financial year 2019, up 2.9% year-on-year.
The company's performance was boosted by new store openings, e-commerce, and the introduction of a meal voucher programme in its stores.
Adjusted EBITDA grew by 8.3% year-on-year, amounting to €675.5 million, while adjusted net profit increased by 3.1% to €250.8 million during the financial year.
Esselunga retained its top position for shelf prices at 3% below the market average, with a shelf price deflation of 0.1%.
The company offered savings of more than €1.5 billion to customers in 2019, up by around €80 million compared to the previous year.
The retailer is scheduled to open a new laEsse proximity store in Parma, which will replace a former Punto Simply supermarket – one of the six former Auchan stores acquired by Esselunga from Conad.
In 2020, Esselunga will also commence the construction of its first store in Genoa and as well as a new supermarket in Varese.
The store in Genoa is expected to open by the end of 2020, while the latter is scheduled to start operations in 2021.
Esselunga operates a network of over 159 superstores and supermarkets in Lombardy, Tuscany, Emilia Romagna, Piedmont, Veneto, Liguria, and Lazio.
Last year, the retailer launched a new superstore in Brescia Triumplina, and the laEsse concept store in Corso Italia, Milan.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.