Polish retailer Dino Polska has reported 54% year-on-year growth in revenue to PLN 5.4 billion (€1.2 billion) in the third quarter of its financial year.
On a year-to-date basis, the retailer generated revenue worth PLN 14.1 billion (€3 billion) from January to September 2022, up 48.5% compared to last year and exceeding the full-year 2021 revenue of PLN 13.4 billion (€2.9 billion).
Like-for-like sales grew by 33.2% in the third quarter and 28.3% in the first nine months of 2022.
'Unique Store Format'
Michał Krauze, member of the Dino Polska management board, said, “The scale of our business is growing at a faster and faster pace. This results from our business model and Dino’s unique store format. We are capable of opening stores very close to where customers live.
"New deliveries of fresh products are made to our stores every day in the morning, enabling us to provide [top quality products]. At the same time, we strive to run the company effectively and economically so that we can offer our customers low prices and attractive promotions."
The retailer noted that its conveniently located stores and attractive prices resulted in shoppers visiting its stores more than 1.6 million times a day on average in the third quarter.
The group invested a total of PLN 393 million (€83.8 million) in capital expenditure in the third quarter, while on a year-to-date basis, this amounted to PLN 1.1 billion (€230 million).
The investment was channelled into launching new Dino stores, creating another 6,000 jobs in the first nine months of its financial year.
The retailer is also implementing measures to reduce the environmental impact of its operations, including installations to generate electricity from renewable energy sources, among others.
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.