Polish retailer Dino Polska has reported a 28.5% year-on-year increase in like-for-like sales in its financial year 2022.
Total sales, including newly-opened Dino stores, grew 48.2% to PLN 19.8 billion (€4.22 billion)
The company noted that size of its business almost doubled compared with 2020, when revenue amounted to PLN 10.1 billion (€2.15 billion).
Michał Krauze, management board member of Dino Polska, stated, "These numbers strongly motivate us to continue opening new Dino stores. Just as in prior years, in 2023, we intend to earmark all of the earnings generated for development. We expect that this will translate into growth in the total Dino store count at a pace in the low double digits."
Izabela Biadała, management board member of Dino Polska, added, "These times of high inflation, supply chain turmoil and general uncertainty during the past year have called upon us to exert more effort to ensure a high level of availability of products at the best possible prices."
The company expects 'strong double-digit' like-for-like sales growth in 2023 based on trends seen earlier in the year and the results of its efforts related to product and price offering.
Store Network Expansion
In 2022, Dino Polska opened 344 new stores to expand its presence in new areas in Poland and strengthen its network in places where it was already present.
At the end of 2022, its store count stood at 2,156, or nearly 19% more than in 2021.
Krauze added, “In 2022, we invested PLN 1.4 billion (€300 million) in development, with Dino Polska’s cumulative capital expenditures over the last five years climbing to PLN 5.4 billion (€1.15 billion).
"At the same time, we created 5,000 new jobs in 2022 and 24,300 new jobs from 2018 to 2022."
The retailer has also earmarked investments for reducing emissions across its operations.
In 2022, it installed solar panels on the rooftops of 1,700, which is 900 more than the preceding year.
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