Italian regional retailer Conad Adriatico is investing €32 million by the end of 2017 for expansion, promotional activities and supporting local production.
As part of its 2015-2017 strategic plan, Conad Adriatico will open 63 new stores across the Italian regions of Marche, Abruzzo, Molise, Puglia, Basilicata, as well as two fuel distributors. In 2016 alone, 17 new supermarkets will be opened.
Conad Adriatico recorded a 4 per cent annual growth of turnover to €962.8 million in 2015, while net profit amounted to €4.7 million. Its target for 2016 is for turnover to surpass €1 billion.
At the end of 2015, Conad Adriatico had 368 outlets in Italy, as well as in neighbouring Albania and Kosovo (42 stores totalling 23,752 square metres), as well as a market share of 12 per cent in its home market. In both Abruzzo (24.5%) and Molise (21.8%) Conad Adriatico is the market leader.
Conad Adriatico is one of seven cooperatives aligned to the retail store brand Conad.
© 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.