Dia Group Sees Sales Up 11% Year On Year In First Nine Months Of 2016
Spain’s Dia Group has posted nine-month results that show a rise in sales under banner of 11% in local currency terms, compared to the same period last year, of €7.8 billion.
The retailer said that the increase was thanks to "good business momentum in all regions in which the company operates".
In Iberia, sales were up 2%, to €5.1 billion, while in emerging countries, Dia posted growth of 27.2%, to €2.7 billion.
“Sales-growth patterns were strong again in every Dia market during Q3 2016, with positive comparable sales growth in all Dia countries, despite the challenging business conditions,” commented Ricardo Currás, the group's CEO.
“Sustained price investments combined with improved service for our customers are paying off all over the Dia universe, pushing up LFL growth above their respective markets. Our priorities for 2016 remain clear: top-line growth and cash-flow generation. We are confident that we can achieve our targets for the full year 2016.”
Commenting on its performance, Barclays European Food Retail Equity Research said that Dia’s sales were in line with consensus.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.