Conad To Invest €1 Billion In Next Three Years
Italian retailer Conad is investing €1.1 billion over the next three years to open new and restructure existing stores, open new warehouses, and to improve the group's energy efficiency.
La Stampa reports that around €413 million will be spent in 2017, €402 million in 2018 and €286 million in 2019. The goal is to increase the company's turnover from the €12.4 billion generated in 2016 (+1.6% on 2015).
The results for the first quarter of 2017 show a growth in sales of €171.6 million (+4.8%) over the same period last year.
Conad has 3,169 stores (compared to 3,055 in 2015) and boasts a retail area of 1.9 million square metres. These appear under a range of formats: 970 Conad City; 493 Margherita Conad; 1,077 Conad and 15 Sapori & Dintorni; 205 Conad Superstore; 25 Conad Ipermercato; and 216 Todis (plus 169 with different banners).
In addition, Conad operates various specialist stores: 36 fuel distributors; 108 pharmacies; 10 Optics, 12 Cremerie Sapori & Dintorni; and 14 Conad il Petstore.
© 2017 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