Italian cooperative Conad Centro Nord reported sales of €1.85 billion in 2021 – up by 4.4% on the previous year. It plans to reach €2 billion in 2022.
The cooperative’s market share increased by 0.13%, to 7.56%, in the regions where it operates: Emilia-Romagna and Lombardy.
Consolidated profit amounted to €27.9 million, while shareholders’ equity reached €351.2 million – up by €43 million, year on year.
Last year, the retailer implemented 31 initiatives to support the purchasing power of consumers, with an average discount of 30%.
As well as ‘Bassi & Fissi’ (branded products sold with an average discount of 26%), in March 2022 the cooperative introduced the ‘Convenienti Sempre’ basket, which offers 500 branded products bimonthly, with average savings of 18%.
In addition, its ‘Risparmio Ortofrutta’ initiative provides a selection of seasonal fruits and vegetables at a fixed price of €0.99, while ‘Promozioni 365 giorni all’anno’ offers 1,200 products daily, with an average discount of 35%, in large stores.
As well as completing the acquisition of 17 stores of the L’Alco Group, 2022 saw the opening of new Conad superstores in Sorbolo and Salsomaggiore (Parma), which will be joined in June by a Conad superstore in Reggio Emilia.
Three-Year Investment Plan
The annual general shareholders’ meeting of Conad Centro Nord approved a three-year plan that anticipates an investment of €279 million in the 2022-24 period for the opening of 48 shops.
Conad Centro Nord is active in the Emilia-Romagna (the provinces of Reggio Emilia, Parma and Piacenza) and Lombardy regions, in addition to some areas of Greater Milan, with 274 stores covering an area of 278,227 square metres.
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.