Conad Reports 1.6% Sales Increase In 2016
Italian cooperative and retailer Conad has reported a 1.6% increase in sales to €12.4 billion in 2016, which is €230 million more than in 2015, reports Aska News.
The company gained a market share of 11.95% among grocery retailers in Italy.
Commenting on the results, Conad CEO Francesco Pugliese said that the company has a solid investment plan for growing at above-market rates and is focusing on an even stronger relationship with customers.
Conad's strategic development plan for the 2017-2019 period aims to make investments of €1.1 billion over the next three years. The company's resources will be channeled into new openings and renovations, seizing new opportunities for growth, and improving energy efficiency in stores and warehouses.
Meanwhile, the retailer's net sales in the first quarter of 2017 show an increase of €171.6 million (+4.8%) compared to the same period in 2016. The main contribution came from Sapori & Dintorni stores (+17.6%), Conad Opticians (8.6%) and Conad supermarkets (+ 6.2%).
© 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