Eroski Sees Turnover Decline Slightly In FY2014/15
Spanish retailer Eroski has posted profits of €90 million for the full year to 31 January 2015, according to accounts just filed.
Turnover at the group stood at €6.1 billion, which is 2% lower than the previous year, however the retailer has attributed this fall to the launch of the Eroski Club loyalty platform in the second half of the year.
In the report, Eroski notes that it has reduced its operating expenses by €53 million, with reductions in staff costs and improved logistics efficiencies.
The group added that its network of franchised stores, which was increased in the past year, increased their sales by 6% in the period.
Its Caprabo supermarket business saw an improvement in its performance, with a profit of €24.1 million following a turnover of €1.327 billion.
© 2014 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones.