Mercator Doubles Investments In Q1, Mostly in Serbia
Slovenia-based retailer Mercator Group invested €12.9 million in its operations in Q1 2016, nearly twice as much as in the equivalent period of 2015. The majority of the investment took place in Serbia.
Some 56.6 per cent of total investment funds were allocated to existing units. Investment into new retail facilities accounted for 22.8 per cent of total investment.
In the period, two neighbourhood stores were refurbished in Slovenia, as well as two hypermarkets, in Ptuj and Rudnik. Eight new units were opened in Serbia and one in Montenegro. Overall, Mercator Group had 934 FMCG stores across Slovenia, Serbia and Montenegro at the close of the quarter.
Mercator Group has drawn up a new strategy based on the fulfilment of the following promises to its customers: to be the best local retailer and to provide the best offer, particularly when it comes to fresh produce, offer the best service for the customers and provide the best value for money.
In Q1 2016, Mercator introduced a new private label line of dairy products, Mila, and a premium products line, Special Moments, while increasing the assortment of organic products under the Bio Zone line.
Mercator Group ended Q1 with revenue of €604.9 million, down 3.8 per cent year-on-year and net profit of €2.3 million (-44%), impacted by the sale of non-core activities.
© 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.