DIA Sees Gross Sales Rise 14% In Q3
Spanish retail group DIA has seen its gross sales rise by 14.1% in Q3 to €2.73 billion, according to results issued on 27 October.
The retail group said that organic growth (excluding El Arbol and Eroski) stood at 5.6%, with a 'material improvement' in its home market. EBITDA for the period was 5.7% higher at constant currency levels.
DIA has added 876 net stores to its portfolio in the last 12 months, and as of 30 September, operates a total of 7,583 stores.
Commenting on its performance, chief executive Ricardo Curras said that "Q3 2015 has been a very good quarter for DIA, with strong sales and adjusted EBITDA growth.
"We have made very significant progress in sales in Iberia, with organic growth improving in all formats and in both Spain and Portugal, which confirms the relevance of our plan in terms of achieving positive organic growth in both countries over the coming months."
© 2015 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.