Jerónimo Martins Q1 Sales Grow 9% To €3.7bn
Portuguese retail group Jerónimo Martins has reported 9% year-on-year growth in consolidated sales to €3.7 billion for the first quarter of its financial year.
Net profit was €778 million, while investments amounted to €101 million.
Sales at Polish supermarket chain Biedronka reached €2.52 billion (+10.8%), accounting for 68.7% of total group sales. During Q1, there were 11 store openings, while 109 private label products were launched. Private label accounts for 42.6% of the company’s total sales.
In Portugal, supermarket chain Pingo Doce had sales of €823 million (+0.8%), contributing 22.4% to total group sales. Two stores were opened in the quarter and 43 new private label products launched.
Portuguese wholesaler Recheio saw a 7.2% sales growth to over €200 million and 44 new products from its private label ranges (Amanhecer, Masterchet and Gourmes) were launched. The banner has 42 stores, while the Amanhecer network, developed in partnership with traditional retailers, has more than 290 stores.
In Colombia, sales at supermarket chain Ara were up 58% (in local currency) and 82% (in euro) to €87 million. Between January and March, Ara inaugurated 23 new stores, taking its store network to 244.
© 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