Eroski Set To Return To Profit In 2016
Eroski is on track see profits in 2016, and reverse the negative trend that has marked its performance during the last seven years, according to Spanish website GranConsumo.tv.
While the retailer’s figures for 2015 will not be published until May, it is expected that they will show significant improvement compared to the years following 2008
Eroski President, Agustín Markaide said during a press conference that “a cycle has ended, one of conversion, and now we are in a new one, which I hope will be more pleasant".
The Spanish company reported losses of €280 million in 2014, due to the restructuring of its commercial network and adjustments in the valuation of some of its assets.
Despite expecting some loss for last year, Markaide says that the overall result "has improved considerably". This leads the company to believe that 2016 could end in growth, something that hasn't happened in seven years.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.