Italy’s Conad To Invest €785 Million In Business By 2018
Italian supermarket chain Conad has announced a three-year investment plan, worth €785 million, leading up to 2018.
Conad closed 2015 with a turnover of €12.2 billion, up 4 per cent in like-for-like sales, and a market share of 11.9 percent.
According to the retailer, its results are very positive, especially when considered that the Italian grocery market in Q1 2015 slipped back 0.5 per cent.
Conad’s forecasts indicate a growth of 3.8 per cent for the 2016-2018 period with investments of €270 million in the current year, €292 million in 2017 and €223 million in 2018. These investments will be aimed at openings and renovations, the construction of new distribution centres, and the acquisition of independent retailers, local and foreign chains that decide to leave Italy.
The Conad system is made up of seven regional cooperatives (Commercianti Indipendenti Associati, Conad Adriatico, Conad Centro Nord, Conad del Tirreno, Conad Sicilia, Nordiconad and PAC 2000A).
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.